Introduction To Marketing Mix In popular use "marketing" is the promotion of products or services.

. Good marketing is derived from knowledge of what it is the consumers need or want. The Marketing Mix is a good way to determine the strategic position of a product or service in the marketplace. The marketing mix essentially consists of the following 7 Ps: 1) PRODUCT 2)PRICE 3) PLACE 4)PROMOTION 5)PEOPLE 6)PROCESS 7)PHYSICAL EVIDENCE 1. Product Product refers to the goods and services you offer to your customers. Apart from the physical product itself, there are elements associated with your product that customers may be attracted to, such as the way it is packaged. The things to be kept in mind are: What does the customer want from the product/service What features does it have to meet these needs? , etc 2. Price Price refers to how much you charge for your product or service. Your pricing approach should reflect the appropriate positioning of your product in the market and should result in a price that covers your cost per item and includes a profit margin. The things that should be kept in mind are: What is the value of the product or service to the buyer? How will your price compare with your competitors? 3. Place Place is in regards to distribution, location and methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the potential use of the internet to sell products directly to consumers. The things to be kept in mind are: Where do buyers look for your product or service? How can you access the right distribution channels? 4. Promotion Promotion refers to the advertising and selling part of marketing. The purpose of promotion is to get people to understand what your product is, what they can use it for, and why they should want it. Advertising methods to promote your product or service include the following: Radio Television Print Electronic Word of mouth Generic Extended marketing mix 5. PEOPLE People are an essential ingredient in service provision. Consumers make judgments and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills, aptitude, and service knowledge to provide the service that consumers are paying for.

6. PROCESS Processes are basically systems used to assist the organization in delivering the service. An efficient service provided will foster consumer loyalty and confidence in the company. Most companies have a service blueprint which provides the details of the service delivery process 7. Physical evidence The ability and environment in which the service is delivered. Both tangible and intangible goods and services help to communicate and perform the service, of existing customers . Impact on the organizations perceptual plan of the service. ICICI Bank Products 1. Savings Account Senior Citizen Services 2. Fixed Deposits Recurring Deposits 3. Roaming Current Loans 4. Investments Cards 5. De-mat services Online money transfer 6. Mobile banking ICICI Bank Pricing 1. Pricing Decisions related to interest, fee or commission. 2. Pricing of its securities. ICICI Bank Place 1. Services are sold through branches 2. Making Promised Services available to the ultimate users. 3. The Bank has a network of 3,377 branches and 10,943 ATMs in India, and is present in 19 countries including India (as on 31st March 2013). ICICI Bank Promotion 1. Advertising - Television, radio, movies, theatres 2. Print Media- Hoardings, newspaper, magazines 3. Publicity- Road shows, campus visits, sandwich man, Sponsorship 4. Sales Promotion- Gifts, discount and commission, incentives, etc. 5. Personal Selling- Cross-sale (selling at competitors place), personalized service 6. Telemarketing- ICICI one source Call center (mind space) ICICI BANK-PEOPLE 1. All people directly or indirectly involved in the consumption of banking services. 2. Workers, Employees, Management and other Consumers 3. Employees of a Bank represents the organization to its customers. ICICI BANK Process 1. STANDARDIZATION- ICICI bank has got standardized procedures for typical transactions 2. CUSTOMIZATION- Specialty counters at each branch to deal with customers of a particular scheme 3. SIMPLICITY- Separate counters exist with clear indication 4. CUSTOMER INVOLVEMENT ICICI BANK PHYSICAL EVIDENCE 1. SIGNAGE- Each and every bank has its logo by which a person can identify the company. It creates visualization and corporate identity for the banks. 2. FINANCIAL REPORTS- The Companys financial reports are issued to the customers to emphasis or credibility 3. TANGIBLES- Pens, Writing Pads to the internal customers. Passbook and Cheque books to the customers. 4. PUNCH LINES- Hum Hai Naa 5. EMPLOYEES DRESS CODE- ICICI bank follows a dress code for their internal customers