Marketing Mix : The Market Mix

1583 Words Oct 18th, 2015 7 Pages
MARKETING MIX – RESTAURANTS

The marketer has conventionally been seen as the mixer of ingredients. Various value creating elements are condensed in the form of a product. According to the marketing mix concept by McCarthy, the marketer mixed the ingredients of product, the physical goods and its ingredients; price or sacrifice that a customer is supposed to make – both monetary and non-monetary; the product availability in right quantity and right time; and finally product information, persuasion and imagery. The success of a marketer depends on how judiciously these ingredients are mixed.

One way of judging the adequacy of marketing mix that has been conceptualised in the context of goods marketing is that when a customer is satisfied or dissatisfied with a good product, both can be traced to the assembly of the ingredients by the marketer.
When a buyer chooses a product ‘A’ over the other ‘B’, it means that the value offered by the product matches with that sought by the customer. It is important to find out why ‘A’ is thought to be more desirable.

PRODUCT

The product in the case of the restaurant basically consists of its tangible and intangible features. Its tangible or physical characteristics include:
• the quality of foods and beverages produced and served,
• the restaurant décor,
• table arrangements,
• menu design,
• portion sizes,
• life cycle, etc
The intangible features of the product are those that satisfy the feelings of the customer i.e.
• The…
Open Document