Godrej Marketing
MARKETING
Godrej Consumer Products features in the Top 25 list of Great Places to Work (survey conducted by GrowTalent in association with Business World) for four years in a row.
Lifetime Achievement Award for Godrej Industries from CHEMEXCIL, the Basic Chemicals Pharmaceuticals and Cosmetics Exports Promotion Council. THE FOUR P’S OF MARKETING The Four P’s
In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of company performance actions that can influence the consumer decision to purchase goods or services. Borden suggested that all those actions of the company represented a “Marketing Mix
”. Professor E. Jerome McCarthy
, at the Michigan State University in the early 1960s, suggested that the Marketing Mix contained 4 elements: product, price, place and promotion.
•
Product
: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user
's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.
•
Pricing
: This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention. Methods of setting prices optimally are in the domain of pricing science
.
•
Placement
(or distribution
): refers to how the product gets to the customer; for example, point-of-sale placement or retailing
. This third P has also sometimes been called
Place
, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.
•
Promotion
: This includes advertising
,
Godrej Consumer Products features in the Top 25 list of Great Places to Work (survey conducted by GrowTalent in association with Business World) for four years in a row.
Lifetime Achievement Award for Godrej Industries from CHEMEXCIL, the Basic Chemicals Pharmaceuticals and Cosmetics Exports Promotion Council. THE FOUR P’S OF MARKETING The Four P’s
In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of company performance actions that can influence the consumer decision to purchase goods or services. Borden suggested that all those actions of the company represented a “Marketing Mix
”. Professor E. Jerome McCarthy
, at the Michigan State University in the early 1960s, suggested that the Marketing Mix contained 4 elements: product, price, place and promotion.
•
Product
: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user
's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.
•
Pricing
: This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention. Methods of setting prices optimally are in the domain of pricing science
.
•
Placement
(or distribution
): refers to how the product gets to the customer; for example, point-of-sale placement or retailing
. This third P has also sometimes been called
Place
, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.
•
Promotion
: This includes advertising
,