Relationship Marketing, Green and E-marketing, Marketing Mix of Product and Services

Relationship Marketing

Relationship marketing is a conventional and transactional marketing strategy that emphasizes on the volume of product sales. A customer may choose any product from a certain brand at one time, but without a solid relationship marketing plan, they won't remain a regular customer. If you can't keep up a solid relationship with the customer, they could not use your brand again anytime soon. A business blends relationship marketing with transactional marketing to serve its clients well.

Today's consumers have an easier way to get information about brands because to the development of the web and social media. These days, marketing entails making it simple for customers and businesses to communicate with one another.

Green Marketing

Green marketing is the promotion of goods that are thought to be safe for the environment. This marketing approach includes a wide range of initiatives, such as product modification, production process adjustments, packaging changes, and advertising changes.

Environmental marketing and ecological marketing are additional phrases with a similar meaning. By raising public awareness of the effects of global warming, non-biodegradable solid waste, the dangers of pollutants, etc., green marketing refers to the holistic marketing concept in which the production, marketing consumption, and disposal of both products and services must be done in a way that is less harmful to the environment. Marketers and consumers alike are becoming more aware of the need to convert to green goods and services today.

E-Marketing

E-marketing is the practice of sending a commercial message via electronic mail to a target audience (email). E-marketing, in the broadest sense, could refer to any email sent to a customer, current or future.

Email is typically used to deliver advertisements, make business requests, and increase brand knowledge and loyalty. To strengthen a business's relationship with both present and past customers, this marketing strategy is typically utilized to send emails. By adding advertisements to emails sent to customers by other businesses, this will promote customer loyalty and repeat business through obtaining new clients or persuading them to make a quick purchase.

Advantages

Email marketing is popular with companies for several reasons:

• It is one of the most effective business tactics.
• Email marketing is cheaper and faster than the traditional mail, mainly due to high cost and time required in a traditional mail campaign for producing the printing, artwork addressing and mailing.
• Advertisers can reach tremendous numbers of email subscribers for their advertisement with minimum cost and time.

Marketing Mix

Marketing is the process of identifying, anticipating and satisfying the requirement of customers for the purpose of making profit. In this process, both marketing managers and marketing representatives have to take several marketing decisions for making the operations more valuable and profitable. They have to decide the combination of marketing policies and procedures that should be adopted to bring desired behavior of consumers and trade at minimum cost. They have to determine how can personal selling, advertising, pricing, packaging, warehousing, channels, and the other components of marketing be mixed and manipulated to make marketing operations profitable. More specifically, they have to conclude a marketing mix - a decision-making process in relation to the product, price, promotion, and distribution.

According to Philip Kotler-"Marketing Mix is the combination of four elements, called the 4P's (product, Price, Promotion, and Place), that every company has the option of adding, subtracting, or modifying in order to create a desired marketing strategy"

According to Principles of Marketing, 14e, Kotler and Armstrong, 2012-"The Marketing Mix is the set of tactical marketing tools - Product, Price, Promotion, and Place - that the firm blends to produce the response it wants in the target market."

The Marketing Mix is a marketing tool used by marketers that are often crucial when concluding product or brand's offering, and it is also known as 4P's (Product, Price, Promotion, and Place) of marketing. In the case of services of several nature, the 4 P's have been expanded to 7P's or 8P's.

In the recent period, giving more importance to the customer a new approach have been introduced, i.e.Concept of 4C's. The Concept of 4C's is more customer-driven and replacement of 4P's.

4P's - Producer-oriented Model of Marketing Mix

• Product: Products are gifts that marketers give to their target market to meet their desires and needs. The product could be a material good or an immaterial service. Cell phones, automobiles, and television are examples of tangible things, whereas services such as medical care from a doctor, financial assistance from a bank, and legal counsel from a lawyer are examples of intangible products.
• Price: Price is the sum that a marketer charges for their goods or services, or the cost that a consumer pays for the consumption or use of a product. It has a big impact on how profitable and resilient the organization is. Price changes have an impact on the product's sales as well as demand. To set the appropriate pricing, marketers must be aware of how customers view the worth of the product.
• Promotion: Promotion describes the different forms of communication that marketers do to inform their target audience about the product. Personal selling, advertising, public relations, and sales promotion are also included in the promotion.
• Place: Making the goods accessible and practical for clients is referred to as place or distribution. It also addresses various strategies for delivering and keeping items before making them available to customers. The choice of distribution strategy will also be influenced by a number of factors.
• In case of services, the producer-oriented marketing mix model consists of 7P's which includes the above 4P's there are others 3P's i.e. Physical Evidence, People, and Process
• People: One element of the service marketing mix is people. A service is described. Your software engineers define you if you run an IT business. In the case of service marketing, people may make or break a firm. Therefore, a lot of businesses today are focused on training their staff members specifically in customer service and interpersonal skills with an emphasis on client pleasure.
• Process: The procedure is the way a service is provided to the final client. Let's use the examples of two enormously well-known businesses: McD's and FedEx. Both businesses pride themselves on providing prompt service, which is made possible by their trust in their internal systems. Additionally, the demand for these services is such that they must be provided at their best without sacrificing quality.
• Physical Evidence: It is the final and most crucial component of the service marketing mix. Tangible things are also supplied with the service to increase client satisfaction. Consider a restaurant with merely tables and chairs and nice food, or a restaurant with good seating, ambient lighting, and music. Both of these establishments provide good meals. Which will you find appealing and prefer? the eatery with a pleasant atmosphere. That is tangible proof.

4C's - Consumer-oriented model of marketing Mix

• Consumer: The consumer replaces the product in a customer-oriented model. More emphasis is placed on customer pleasure by marketers. The needs of the customer are taken into consideration during the design and production of the product and services.
• Cost: The Cost takes the place of Price. The overall cost of owning a product is what is meant by "cost" in this context. It also accounts for the costs of changing the product, using the product, and foregoing the alternative product.
• Communication: Communication takes the place of promotion. Advertising, personal selling, public relations, and any other technique that can be utilized to ensure proper, timely, and accurate communication between consumers and marketers all fall under the category of communication.
• Convenience: Convenience has taken the location's place. It focuses on making purchases simple, making it easy to find out about products, and making it simple to go to stores and products.

Reference

https://www.cleverism.com/understanding-4cs-marketing-mix/

http://www.enotesmba.com/2013/03/marketing-notes-marketing-mix.html

Kotler, P., & Armstrong, G. (2013). Principles of Marketing. Chennai: Pearson India Education Services Pvt Ltd