AMITY SCHOOL OF SCHOOL OF BUSINESS Weekly Progress Report

(WPR 5)
on
MARUTI SUZUKI

Submitted to: Rajeev Gupta

Amity University Uttar Pradesh

In partial fulfilment of the requirements for the award of the degree

of
Bachelor of Business Administration
by

Kshitij Negi
A3906418166
Under the Guidance Of

Mr. Rajeev Gupta

DEPARTMENT OF AMITY SCHOOL OF BUSINESS

AMITY UNIVERSITY UTTAR PRADESH

 WEEKLY PROGRESS REPORT (WPR)– 4
For week commencing 14 February 2020 to 21 February 2020

Enrolment No. – A3906418166

Program – BBA (General)
Batch - 2018 - 2021
Student Name – Kshitij Negi
Faculty Guide's Name – Mr. Rajeev Gupta

Project Title:
Marketing Strategies of Maruti Suzuki

Targets set for the week:

Topic in the selected company

Progress/Achievements for the week:

Marketing Mix of Maruti Suzuki

Regards 
Kshitij Negi
ASB-21(Y)
  WHAT IS MARKETING MIX
The term "marketing mix" is a foundation model for businesses, historically centered around
product, price, place, and promotion (also known as the "4 Ps"). The marketing mix has been
defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in
the target market". Thus the marketing mix refers to four broad levels of marketing decision,
namely: product, price, place, and promotion.
Marketing practice has been occurring for millennia, but marketing theory emerged in the
early twentieth century. The contemporary marketing mix, or the 4 Ps, which has become the
dominant framework for marketing management decisions, was first published in 1960. In
services marketing, an extended marketing mix is used, typically comprising 7 Ps, made up
of the original 4 Ps extended by process, people, and physical evidence. Occasionally service
marketers will refer to 8 Ps, comprising these 7 Ps plus performance.
In the 1990s, the model of 4 Cs was introduced as a more customer-driven replacement of the
4 Ps. There are two theories based on 4 Cs: Lauterborn's 4 Cs (consumer, cost, convenience,
and communication), and Shimizu's 4 Cs (commodity, cost, channel, and communication).
Given the valuation of customers towards potential product attributes (in any category, e.g.
product, promotion, etc.) and the attributes of the products sold by other companies, the
problem of selecting the attributes of a product to maximize the number of customers
preferring it is a computationally intractable problem.
The correct arrangement of marketing mix by enterprise marketing managers plays an
important role in the success of corporate marketing:

1. develop strengths and avoid weaknesses

2. strengthen the competitiveness and adaptability of enterprises
3. make the internal departments of the enterprise work closely together

 Why is Marketing Mix is important?

When thinking of a business development plan, marketing mix is
an important model to help you create the right marketing
strategy. This model is a useful guide for a company to
implement effective tactics to gain the most profit. The marketing
mix model is actually one of the first things an organization
should consider when starting a business. The reason for this is
because all the company’s decisions on positioning, targeting,
and segmentation will depend on this model.
  4P’s Of Marketing Mix
1. Product:
The product is either a tangible good or an intangible service that is seem to meet a
specific customer need or demand. All products follow a logical product life cycle and
it is vital for marketers to understand and plan for the various stages and their unique
challenges. It is key to understand those problems that the product is attempting to
solve. The benefits offered by the product and all its features need to be understood
and the unique selling proposition of the product need to be studied. In addition, the
potential buyers of the product need to be identified and understood.

2. Price:
Price covers the actual amount the end user is expected to pay for a product. How a product is
priced will directly affect how it sells. This is linked to what the perceived value of the
product is to the customer rather than an objective costing of the product on offer. If a
product is priced higher or lower than its perceived value, then it will not sell. This is why it
is imperative to understand how a customer sees what you are selling. If there is a positive
customer value, then a product may be successfully priced higher than its objective monetary
value. Conversely, if a product has little value in the eyes of the consumer, then it may need
to be under-priced to sell. Price may also be affected by distribution plans, value chain costs
and mark-ups and how competitors price a rival product.

3. Promotion:
The marketing communication strategies and techniques all fall under the promotion heading.
These may include advertising, sales promotions, special offers and public relations.
Whatever the channel used, it is necessary for it to be suitable for the product, the price and
the end user it is being marketed to. It is important to differentiate between marketing and
promotion. Promotion is just the communication aspect of the entire marketing function.

4. Place:
Place or placement has to do with how the product will be provided to the customer.
Distribution is a key element of placement. The placement strategy will help assess what
channel is the most suited to a product. How a product is accessed by the end user also needs
to compliment the rest of the product strategy.
  KEY FEATURES OF
MARKETING MIX
Interdependent variables:
The marketing mix is formed from four unique variables. These four variables are
interdependent and need to be planned in conjunction with one another to ensure that the
action plans within all four are complimentary and aligned.

Help Achieve Marketing Targets:

Through the utilization of this set of variables, the corporate are able to do its marketing
targets like sales, profits, and customer retention and satisfaction.

Flexible Concept:
The marketing mix could also be a fluid and versatile concept and therefore the specialise in
anybody variable may be increased or decreased given unique marketing conditions and
customer requirements.

Constant Monitoring:
It is vital to stay an eye fixed on changing trends and requirements, within the corporate also
as within the market to make sure that the weather in marketing mix stays relevant and
updated.

Role of Marketing Manager:

A mature, intelligent and innovative marketing manager must be at the helm of the marketing
mix. This pivotal role means this manager is liable for achieving desired results through the
skill manipulation of those variables.

Customer as a focal point:

A vital feature of the marketing mix is that the customer is that the focus of the activity. The
value of the merchandise is decided by customer perceptions and therefore the goal is to
realize a satisfied and constant customer.