Marketing Insight+

4Ps refers to Product, Price, Place and Promotion. It is traditional marketing concept and known as tools of Marketing Management. It works operational point of view, controlled by marketers. 4Ps are focused on internal variables, so, it seems as tool of Physical Marketing Management .Strategic point of view there is something drawbacks in it. Strategic concept is more customers centric. When customers become more valuable, then, the tool to deal with market is 7Ps ( Product, Price, Promotion , Place, Participants/ People, Process, and Physical evidence ). First four Ps are controlled by Marketers but last three Ps can not be controlled, because there is more participation of Customers and together represents service mix.   Internet market is different from physical market, it is virtual market, products are here intangible, the success is depends upon experience of the customers. Even all Ps acts at the same place i.e. at Web Page of the company. We can say everything availabl

Vendors and suppliers are very important for any business. This service provides a safe hand to build awareness and delivery of product or services to the customers and do add value to the business. All business should maintain good relationship with vendor and supplier and in long run without mutual benefit it never works. So, mutual benefit is necessary for building strong relationship. In this competitive scenario this becomes vital. The foundation of good relationship depends upon Respect, Trust, Mutual benefits and Fairness from both sides. There are many facts in a vendor and supplier relationship to getting the perfect deal. The facts are; What is in it for me, What is in it for our relationship for long run, What do matters to my business, Can they deliver at promised time or within time interval.

Marketing Myopia   Marketing Myopia is short sightedness or narrow ness of a company to define its business. It may be of product oriented or customer oriented.     Product orientation – Company defines itself as a product producer of quality of product at low cost. (Product concept-an old marketing concept)   Customer orientation- Company define itself as a satisfier of customer needs and wants (Modern Marketing concept).   Both concepts are good, holds good at a certain level but beyond that leads Myopia. Because Marketers do think we are doing good and getting profit, but they don’t consider “what will be the future of competition”.     Managers prefer to work in same industry in which they were recruited first; even companies  prefer Managers from same sector in which they are dealing. It is also a cause of leading Marketing Myopia. Human resource department should recruit Managers from different- different    industry, so that problems can be scrutinised and