The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.

1. MARKETING MIX AND PRODUCT LIFE CYCLE
BY..
TINJU FRANCIS JOHN - 192605018
JUANITA ISHAL SEQUEIRA - 192605010
VISHNUMURTHI – 192605042
VIVEK BHAT - 192605021

2. What is Marketing Mix…
THE TERM “MARKETING MIX” IS A FOUNDATION MODEL FOR BUSINESSES,
HISTORICALLY POINTED AROUND PRODUCT, PRICE, PLACE AND PROMOTION.
THE MARKETING MIX HAS BEEN DEFINED AS THE AS THE “SET OF MARKETING
TOOLS THAT THE FIRM USES TO PURSUE ITS MARKETING OBJECTIVES IN THE
TARGET MARKET.”

3. 7 “P”s of Marketing Mix
1. PRODUCT
2. PRICE
3. PROMOTION
4. PLACE
5. PEOPLE
6. PROCESS
7. PHYSICAL EVIDENCE

4. 1. PRODUCT MIX
PRODUCT MIX, ALSO KNOWN AS PRODUCT ASSORTMENT SO IT REFERS TO THE
COMPLETE SET OF PRODUCTS OR SERVICES OFFERED BY A FIRM.
A PRODUCT MIX CONSIST OF PRODUCT LINES, WHICH ARE ASSOCIATED ITEMS
THAT CONSUMERS TEND TO USE TOGETHER OR THINK OF AS SIMILAR PRODUCTS OR
SERVICES.

5. PRODUCT LIFE CYCLE
A PRODUCT LIFE CYCLE IS THE AMOUNT OF TIME A PRODUCT GOES FROM BEING
INTRODUCED INTO THE MARKET UNTIL ITS TAKEN OF THE SHELVES.
THERE ARE FOUR STAGES IN A PRODUCT LIFE CYCLE..
1. INTRODUCTION STAGE
2. GROWTH STAGE
3. MATURITY STAGE
4. DECLINE STAGE

7. ADVANTAGES OF PLC :
1. MANY STRATEGIES
2. DECISION MAKING
3. FORECASTING
LIMITATIONS OF PLC :
1. FLUCTUATIONS IN SALES DATA.
2. DELAY IN SALES DATA.
3. VARYING MARKET CONDITIONS.
4. NOT APPLICABLE TO BRANDS OR SERVICES.

8. 2. PRICE MIX
PRICE MIX IS ANOTHER IMPORTANT ELEMENT OF MARKETING MIX. IT IS
CONSIDERED AS VERY CRITICAL ELEMENT. PRICE CAN BE DEFINED AS THE ECONOMIC
VALUE OF PRODUCT NORMALLY EXPRESSED IN FORM OF MONEY.
SOME PRICING DECISIONS INVOLVES….
1. DETERMINING PRODUCT DEVELOPMENT COSTS.
2. DETERMINING MANUFACTURING COSTS THE PRODUCT.
3. DECIDING ON LEVEL OR MARGIN OF PROFITS.

9. 3. PROMOTION MIX
PROMOTION MIX DEALS WITH THOSE ACTIVITIES DIRECTED TO INCREASE SALES
VOLUME. IT IS ALSO KNOWN AS MARKET COMMUNICATION. PROMOTION MIX
INVOLVES ALL THOSE EFFORTS DIRECTED TO INCREASE SALES OF PRODUCTS ON A
CONTINUOUS BASIS.
PROMOTION MIX CONSISTS OF FOLLOWING ELEMENTS…
1. ADVERTISING
2. PERSONAL SELLING
3. SALES PROMOTION

10. ADVERTISING
ADVERTISING IS THE PAID PRESENTATION AND PROMOTION OF IDEAS, GOODS
OR SERVICES BY AN IDENTIFIED SPONSOR IN A MASS MEDIUM.
EXAMPLE : PRINTS ADS, RADIO, TELEVISION, BILLBOARD, DIRECT MAIL, SIGNS,
BROCHURES, MOTION PICTURES, WEB PAGES, BANNER ADS ETC.

11. PERSONAL SELLING
PERSONAL SELLING IS THE PROCESS OF HELPING AND PERSUADING ONE OR
MORE PROSPECTS TO PURCHASE A GOOD OR SERVICE OR TO ACT ON ANY IDEA
THROUGH THE USE OF AN ORAL PRESENTATION, OFTEN IN A FACE TO FACE MANNER
OR BY TELEPHONE.
EXAMPLE : SALES PRESENTATION, SALES MEETINGS, SALES TRAINING, INCENTIVE
PROGRAMS FOR INTERMEDIARY SALES PEOPLE, SAMPLES AND TELEMARKETING.

12. SALES PROMOTION
IT IS A MEDIA AND NON MEDIA MARKETING
COMMUNICATION USED FOR A PREDETERMINED LIMITED
TIME TO INCREASE CONSUMER DEMAND, STIMULATE MARKET
DEMAND OR IMPROVE PRODUCT AVAILABILITY.
EXAMPLE : COUPONS, SWEEPSTAKES, CONTESTS,
PRODUCT SAMPLES, REBATES, TRADE SHOWS, EXHIBITIONS,
CORPORATE GIVE AWAY ITEMS ETC.

13. 4. PLACE MIX
PLACE MIX RELATED TO DISTRIBUTION OF PRODUCT. THIS ELEMENT OF
MARKETING MIX BASICALLY CONCERNS WITH PHYSICAL DISTRIBUTION OF CHANNEL
OF DISTRIBUTION.
THIS ELEMENT OF MARKETING MIX AS MARKETING GOALS CAN ACHIEVED ONLY
OF THE PRODUCTS REACH THE HAND OF CONSUMERS CONVENIENTLY.

14. 5. PEOPLE
ONE OF THE ESSENTIAL ELEMENTS OF THE
MARKETING MIX IS PEOPLE. THIS INCLUDES EVERYONE
WHO IS INVOLVED IN THE PRODUCT OR SERVICE
WHETHER DIRECTLY OR INDIRECTLY.
ALL THESE PEOPLE HAVE THEIR OWN ROLES TO
PLAY IN THE PRODUCTION, MARKETING, DISTRIBUTION
AND DELIVERY OF THE PRODUCTS AND SERVICES TO
THE CUSTOMERS.

15. 6. PROCESS
PROCESS INCLUDES DIRECT ACTIVITIES
AND INDIRECT ACTIVITIES AND PROCESS IS AN
ELEMENT OF SERVICE THAT SEES THE CUSTOMER
EXPERIENCING AN ORGANIZATION’S OFFERING.
7. PHYSICAL EVIDENCE
IT REFERS TO EVERYTHING YOUR
CUSTOMERS SEE WHEN INTERACTING WITH
YOUR BUSINESS. THIS INCLUDES THE PHYSICAL
ENVIRONMENT WHERE YOU PROVIDE THE
PRODUCT OR SERVICE.