IBPS SO MARKETING consists of the following chapters- Basic Marketing Principles, Brand Management, Advertising, Sales, Retail Business, Market Research, and Marketing Strategies. We will discuss the details of chapter along with its PDFs available. Start studying the IBPS SO MARKETING PRINCIPLES PDF material to increase your score.
PDF – Basic Marketing Principles
IBPS SO MARKETING Principles
Marketing is the process that helps in the creation, communication, delivery, and exchange of offerings that have value for customers, clients, partners, and society at a macro level.
The chapter Basic Marketing Principles consist of 4Ps. These 4Ps are:
- Product
- Price
- Place
- Promotion
Product
The 4 Ps of the marketing Principles consist of the first P, which is the Product. It is a tangible good that is offered to the customer in the market. It helps give the satisfaction to the consumer that he needs in his life. As he met with the expectations when he got the product. In the product, there are some key features.
Likewise, it must be good in design and features, which also provides the performance and quality to the user. So that they never get a single complaint about the product. Moreover, we see that it also consists of branding and packaging services. Because when the product is to be delivered to the user, it must be designed and packed properly.
Price
The price is the amount of money that a customer has to pay to get the product. The pricing of a product directly affects demand, profit margin, and market positioning of a product. So, it must be dealt with in an effective manner without any risks. Here we see that it consists of the different key strategies that help in deciding the price.
The first strategy is the Penetration pricing, where we see that it sets the low price of a product so that it enters the market. The next is the skimming pricing, where we say that the product enters the market with its high value. It is specifically designed for the premium products. Moreover, we see some of the competitive pricing in which the price is set according to the competition.
Additionally, there are some factors that influence. It consists of the Cost of production, Competitor pricing, Customer’s willingness to pay, and economic conditions.
Place
The place is the area where the product is to be stored. While checking the marketing Principles, we see that it comes with the points. The place consists of the transportation place, storage place, warehouse location, and many others. The place must be set with precise decisions and policies because it plays a vital role in the marketing of the products.
Promotion
The promotion of the product consists of different plans. It covers Advertising, PR, sales promotions, brand establishment, and many other aspects. When the product is maintained, its policies are set, and then the last step in the marketing Principles is that it must do promotion for the sales.
Because the promotion helps a lot in the sales of a product. But one must ensure that the promotion is done in an effective manner. Otherwise, the product would not have been sold after the promotion techniques.
| IBPS SO MARKETING PRINCIPLES | What It Means | Example |
|---|---|---|
| Customer Orientation | Focus on understanding and satisfying customer needs. | Amazon’s personalized recommendations. |
| Value Creation | Deliver benefits that exceed customer expectations. | Apple’s design and user-friendly products. |
| Exchange Process | Both parties exchange something of value. | Paying for an iPhone → get technology & prestige. |
| Market Segmentation | Dividing market into groups with common needs. | Coca-Cola has Diet Coke, Zero Sugar, etc. |
| Targeting | Choosing the segment(s) you will serve. | Nike targets athletes & fitness lovers. |
| Positioning | Creating a distinct image in the customer’s mind. | Volvo positions itself on safety. |
| Marketing Mix (4Ps) | Product, Price, Place, Promotion — tools to satisfy the market. | Starbucks: premium coffee (Product) & ambiance. |
| Relationship Marketing | Building long-term relationships with customers. | Starbucks Rewards Program. |
| Integrated Marketing | All marketing tools and channels work together. | Coca-Cola’s ads, sponsorships, packaging. |
| Sustainable Marketing | Ethical, socially responsible marketing. | Patagonia promotes environmental sustainability. |
| Marketing Research | Collecting & analyzing data for better decisions. | Surveys, focus groups, market trend reports. |
| Value Proposition | Why customers should choose you over competitors. | Domino’s: “You get fresh, hot pizza delivered in 30 minutes or less — or it’s free.” |
Comparison Table
The comparison table helps you look at the different Ps and their functions. With it, you can easily compare the multiple factors that it consists of. So, you can go through the table and find out the functions of the 4Ps of an organisation.
| 4 Ps | What It Covers | Example |
|---|---|---|
| Product | Features, quality, branding, packaging | Apple iPhone with premium features |
| Price | Cost to customer, pricing strategy | Skimming price for new tech gadgets |
| Place | Distribution channels, logistics | Amazon’s online delivery system |
| Promotion | Advertising, PR, sales promotions | Coca-Cola’s global ad campaigns |
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