4 Ps of marketing mix meaning marketing mix marketing mix 4Ps - product , place' price , promotion 7ps additional ps

1. SUBMITTED BY : HARSHITA AND GURLEEN
SUBMITTED TO: MRS. PARAMJEET KAUR
ROLL NO : 5710 AND 5705
SUBJECT : MARKETING MANAGEMENT

2. WHAT DO YOU MEAN BY MARKETING
MIX?
The 4 p’s of marketing mix are given by E. JEROME MCCARTHY.
 The 4 p’s of marketing can be summed up as putting the right
product in the right place at the right time and at a fair price.
 Each p’s plays a crucial role in influencing consumer behaviour and
overall market success.

3. MARKETING MIX
The marketing mix often referred to as the 4p’s, is
the framework that businesses use to plan and
execute their marketing strategies.

5. PRODUCT:-
 ‘PRODUCT’ refers to the physical product , tangible product or services.
 A product can be anything, it can be object, an organization, service, place, idea or people.
 It is not only tangible product but also includes services.
 It means what the business or non profit organization offers to its customers.

6. PRODUCT MIX
Brand name Quality
packaging
functionality
warranty

7. EXAMPLE:-
NETFLIX:- Offers a wide range of streamimg
content , including original series and movies.
TESLA MODEL 3 :- known for its electric
powertrain, cutting – edge technology , and sustainability
features.

8. PRICE:-
Price mix refers to the amount that customer pays for a product.
It can also be referred to as the sacrifice which consumers are ready to make to acquire a
product.
Price is basically:-
 What is the value of the product to the buyer?
 Is the price comparable to price of similar products?

9. ELEMENTS OF PRICE MIX
PRICING
OBJECTIVES
•PROFIT
MAXIMISATION
•MARKET SHARE
GROWTH
•COMPETITIVE
PRICING
PRICING STRATEGY
•PRICE SKIMMING
•PENETRATION
•VALUE BASED
PRICING
PRICE
DETERMINATION
•COST, DEMAND
•COMPETITION
•DESIRED PROFIT
MARGIN

10.  EXAMPLE:-
WALMART:- Known for its “everyday low
prices” strategy, offers at competitive
price.
PRICING TACTICS
• DISCOUNT
PRICING
• BUNDLE PRICING
• DYNAMIC
PRICING
•PSYCHOLOGICAL
PRICING
PRICE
SEGMENTATION
•DEMOGRAPHIC
•GEOGRAPHIC
•CUSTOMER
BEHAVIOUR
DISCOUNTS AND
PROMOTION
•OFFERS
•DISCOUNT
•PROMOTIONS

11. PLACE:-
Decision or Place Distribution is about getting the products to the customer.
PLACE refers to where customers buy your product, or where they discover it.
Goods must be made available to the consumers at a place where they can
conveniently make purchase.
It involves a chain of individuals and institutions like distributors, wholesalers
and retailers who constitute firm’s distribution network (also called channel of
distribution).

13. ELEMENTS OF PLACE MIX
TRANSPORTATION
.
WAREHOUSES
.
INVENTORY LEVEL
.

14. DISTRIBUTION CHANNELS
R
ORDER PROCESSING REVERSE LOGISTICS

15. EXAMPLE:-
•AMAZON:- Offers products through its online
marketplace , with fast shipping and extensive global reach.
•Starbucks:- Has numerous coffee shops in prime
locations worldwide , making it accessible to a wide customer
base.

16. PROMOTION:-
PROMOTION is that activity which deals with the responsibility of informing and persuading the customers
about the product and creating an image about the product in the minds of customers.
Promotion can include:-
ADVERTISEMENT
PERSONAL SELLING
PUBLIC RELATIONS
SALES PROMOTIONS
DIRECT MARKETING

17. ELEMENTS OF PROMOTIONS
Advertisement Personal selling Public relations Sales promotion
https://youtube.com/shorts/XomzU0Rgvn4?si=OxvghUaGT8JcSxZj

18. THE SERVICE P’S OF MARKETING MIX ARE
GIVEN BY BOOMS & BITNER

19. SERVICE P’S (7P’S)
PEOPLE: THE PERSONNEL, EMPLOYEES, AND SERVICE
REPRESENTATIVES WHO INTERACT WITH CUSTOMERS. PEOPLE
PLAY A CRUCIAL ROLE IN DELIVERING A POSITIVE CUSTOMER
EXPERIENCE.
EXAMPLE: A HIGH-END SPA HIRING WELL- TRAINED AND
FRIENDLY STAFF TO PROVIDE EXCEPTIONAL CUSTOMER
SERVICE AND MASSAGES.
PROCESS: THE PROCEDURES AND SYSTEMS USED TO
DELIVER THE PRODUCT OR SERVICE. EFFICIENT AND

20. EXAMPLE: AN E-COMMERCE PLATFORM STREAMLINING ITS
CHECKOUT PROCESS TO MAKE ONLINE SHOPPING MORE QUICKER AND
MORE USER FRIENDLY.
PHYSICAL EVIDENCE: THE TANGIBLE ELEMENTS THAT SUPPORT
THE SERVICE OR PRODUCT, SUCH AS PACKAGING, BRANDING, AND
THE PHYSICAL ENVIRONMENT WHERE THE SERVICE IS DELIVERED
(E.G., A RETAIL STORE OR A WEBSITE).
EXAMPLE: A LUXURY CAR DEALERSHIP HAVING A SHOWROOM WITH
SLEEK, WELL-MAINTAINED CARS AND AN ELEGANT WAITING AREA FOR
CUSTOMERS.

21. How a product or brand is perceived in the
minds of customers in relation to competitors.
EXAMPLE:- Apple positions itself as a premium brand in the tech
industry. Their products are known for their sleek design,
simplicity, and innovation. The tagline "Think Different" exemplifies
their positioning strategy.
➢ The design and materials used to wrap and
present a product.
EXAMPLE:- Tiffany's iconic blue box and white ribbon packaging
are instantly recognizable and associated with luxury. The simple
yet elegant packaging enhances the perceived value of their jewelry.
ADDITIONAL P’ S

22. Managing the communication
between a company and the public to maintain a positive
image.
EXAMPLE:- In 2019, when Apple faced criticism for the high
pricing of its iPhone 11, they engaged in PR by emphasizing
the advanced technology and features that justified the cost
in their press releases and media statements.
A fictional character representing a specific
customer segment, used for targeted marketing.
EXAMPLE:-Nike created a persona around their "Just Do It"
campaign. They target athletes and individuals with an active
lifestyle.

23. Tailoring Personalization: Tailoring
marketing messages and offerings to individual customer
preference.
EXAMPLE:- When you log into your Amazon account, you're
greeted with personalized product recommendations based on
your past browsing and purchase history. They use algorithms
to analyze your behavior and tailor the shopping experience to
your preferences.
The stages a customer goes
through from awareness to purchase.
EXAMPLE:- When you search for a product on Google, click on
an ad, visit the product page, and then make a purchase on an
online retailer's website, you've gone through various stages

24. The difference between the cost to produce a
product and the price at which it's sold.
A concise statement that defines a
product's unique value in the market.
EXAMPLE: Volvo's positioning statement emphasizes safety and
reliability. They often say, "Volvo: For Life," highlighting their
commitment to producing vehicles that prioritize safety and
longevity.
➢ A framework for analyzing external
macro-environmental.
EXAMPLE:-During the COVID-19 pandemic, the airline industry
conducted PESTEL analyses to assess the impact of the virus on

25. ➢ The stages a product goes through from
introduction to decline.
EXAMPLE:- Coca-Cola's classic soda has been in the maturity stage of
its product life cycle for many years, with stable sales and competition.
➢ Gaining attention for a product or brand through non-
paid media coverage.
EXAMPLE:- When Elon Musk sent a Tesla Roadster into space as part of
a SpaceX launch in 2018, it generated massive publicity for both Tesla
and SpaceX, with extensive media coverage and social media
discussions.
https://youtu.be/reMTcjw_Tcw?si=r6XGX2i1WS40dZ9r

26. BIBLIOGRAPHY
• BOOK REFERRED:-
MARKETING MANAGEMENT~ AUTHOR- KAMLESH BAJAJ, KHUSHDEPP KAUR ,
ANUPREET KAUR
PUBLISHER- KALYANI (PAGES-4.2-4.8)
MARKETING MANAGEMENT~ AUTHOR- PRIYANKA GITE
PUBLISHER- TAXMAN
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