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Marketing Mix

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A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. …

A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion.

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  • 1. Marketing Mix
  • 2. Marketing Mix • A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion.
  • 3. Marketing Mix • These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income.
  • 4. 4 P’s Of Marketing • Product : It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. • E.g.: Motor Cars, Disposable Razors
  • 5. 4P’s Of Marketing• While formulating the marketing strategy, product decisions include: • What to offer? • Brand name • Packaging • Quality • Appearance • Accessories • Warranty
  • 6. 4 P’s Of Marketing • Price : The price is the amount a customer pays for the product. • The business may increase or decrease the price of product if other stores have the same product.
  • 7. 4 P’s Of Marketing• Price decisions include: • Pricing Strategy (Penetration, Skim, etc.) • List Price • payment period • Discounts • Financing
  • 8. 4 P’s Of Marketing • Place : Place represents the location where a product can be purchased. • It can include any physical store as well as virtual stores on the Internet.
  • 9. 4 P’s Of Marketing • Placement decisions include: • Placement • Distribution channels • Logistics • Inventory • Order processing • Selection of channel members
  • 10. 4 P’s Of Marketing• Promotion: represents all of the communications that a marketer may use in the marketplace. • advertising, public relations, personal selling and sales promotion
  • 11. 4 P’s Of MarketingPromotion decisions include: • Advertising • Media Types • Message • Sales promotion • Personal selling • Public relations • Direct marketing
  • 12. Factors Affecting Marketing Mix • Market Factors: Like Consumer behavior (needs, wants , wills , preferences etc) • Competition ( basis of competition , no. of competitors , quality and characteristics of competitors products ) • Pattern of distribution channel • Government control etc.

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