The marketing mix refers to the set of controllable tactical marketing tools that a firm uses to influence demand for its products, traditionally categorized into four elements: product, price, place, and promotion. Product encompasses any market offering that satisfies consumer needs, price is the monetary value placed on a product or service, place involves the distribution channels that make products accessible, and promotion includes activities that communicate product benefits to customers. The document also mentions the evolution of the marketing mix and introduces an expanded model that includes additional elements relevant to service marketing.

1. MARKETING MIX

2. DEFINATION
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Marketing mix is defined as the set of
controllable tactical marketing tools that the
firm blends to produce the response it wants in
the target market. The marketing mix consists
of everything the firm can do to influence the
demand for its product

3. EVOLUTION OF MARKETING MIX
3
E.Jerome McCarthy popularised the
concept of Marketing Mix by grouping
different marketing and related
variables into 4 elements namely :
PRODUCT, PRICE,PLACE & PROMOTION

4. “
4
PlacePromotion
Product Price
01
02
03
04

5. PRODUCT
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Anything that can be offered to a market for
attention, acquisition, use or consumption that
might satisfy a want or need. It includes physical
objects, services, persons, place, organizations
and even ideas.

6. “
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PRODUCT
Brand
Name
Packaging
Services
Warranties
Variety
Quality
Design
Feature
ATTRIBUTES OF PRODUCT

7. PRICE
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The amount of money charged for a
product or service, or the sum of the
values that consumers exchange for
the benefits of having or using the
product or service.

8. “ Discounts
Allowances
Payment Period
Credit Terms 8
ATTRIBUTES OF PRICE
05
04
03
02
List Price01

9. PLACE
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Place includes company activities that
make the product available to target
consumers . It is alternatively called
Channel of distribution or Physical
distribution

10. ATTRIBUTES OF PLACE
PLACE
Channels
Coverage
Assortment
Location
Inventory
Transport

11. PROMOTION
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Promotion means activities that
communicate the merits of the
product and persuade target
customers to buy it.

12. “
Promotion
Personal Selling
Publicity
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ATTRIBUTES OF PROMOTION
04
03
02
Advertising01

13. “
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PRODUCT
PRICE
PLACE
PROMOTION
PHYSICAL
EVIDENCE
PEOPLE
PROCESS
7 P’s of
SERVICE
MARKETING

14. “
14*Credit: Graham Harvey

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