This document discusses the marketing mix, also known as the 7Ps of marketing. It provides an overview of each element: Product, Price, Place, Promotion, People, Process, and Physical Evidence. For each P, it lists some key considerations. For example, for Product it mentions design, value, quality, packaging and branding. For Price it discusses strategies like skimming, cost-plus pricing, and loss leaders. The marketing mix framework helps companies develop the right combination of these elements to market their products or services effectively.

1. UNIVERSITY OF MYSORE
GOVERNMENT FIRST GRADE COLLAGE
FOR WOMEN, HOLENARASIPURA
DEPARTMENT OF PG STUDIES IN COMMERCE
TOPIC: MARKETING MIX
SUBMITTED BY SUBMITTED TO
KEERTHANA H P
MR.SUNDAR B N
1ST M. Com.
Asst. prof & course
G.F.G.C.W HNP
coordinator

2. MARKETING MIX
7Ps

4. INTRODUCTION
Marketing mix is a set of marketing tool or tactics, used to promote a product or
services in the market and sell it . It is about positioning a product and deciding
it to sell in the right place, at the price and right time. The product will then be
sold, according to marketing and promotional strategy. A Marketing Mix is the
combination of factors such as the type of product, its price, place of distribution and
promotional strategies used. These four factors are popularly called 4P`s of
marketing and were first introduced to the world in 1960 by McCarthy. Let`s
delve into each of them and see how they affect the life of a product.

5. The 7Ps
Marketing
Mix
• Product
• Promotion
• Price
• Place
• People
• Process
• Physical
evidence

7. The Marketing Mix
Target customers
Intended positioning
Product
• Variety
• Quality
• Design
• Features
• Brand name
• Packaging
Target
• Services
customers
Promotion
Intended
• Advertising
positioning
• Personal selling
• Sales promotion
• Public relations
Price
•List price
•Discounts
•Allowances
•Payment period
•Credit terms
Place
•Channels
•Coverage
•Assortments
•Locations
•Inventory
•Transportation
•Logistics

8. PRODUCT
The product is the first P of the marketing mix and is by default the most important
aspect of the marketing mix. A product is a commodity, produced or built to satisfy
the need of an individual or a group. The product can be intangible or tangible as it
can be in the form of services or goods. It is important to do extensive research
before developing a product as it has a fluctuating life cycle, from the growth phase
to the maturity phase to the sales decline phase.
PRODUCT: Design,
Value,
Quality,
Packaging,
Branding

9. PRICE
Second place in the marketing mix goes to ‘Price’. Price is a very important
component of the marketing mix definition. The price of the product is basically the
amount that a customer pays for to enjoy it. Price is the most critical elements of a
marketing mix plan because it dictates a company`s survival and profit. Adjusting
the price of the product, even a little bit has a big impact on the entire marketing
strategy as well as greatly affecting the sales and demand of the product in the
market. Things to keep on mind while determining the cost of the product are, the
competitor’s price, list price, customer location, discount, terms of sale, etc.,
PRICE: Strategies,
Skimming,
Cost-plus,
Loss leader etc

10. PLACE
The third P in the marketing mix stands for ‘Place’. Placement or distribution is a very
important part of the marketing mix strategy. We should positionand distribute our
product in a place that is easily accessible to potential buyers/ customers. It’s all
about ‘providing the right product to the right place at the right time’ with the help of
an efficient distribution system.
PLACE: Retail,
Wholesale,
Internet,
Direct sales

11. PROMOTION
The fourth P in the marketing mix stands for ‘Promotion’. Strategies to make the
consumer aware of the existence of a product or services. Depending on the current
situations, a marketing strategy is formulated using the appropriate proportions of
the 4Ps. After analysing the stage in the product life cycle, the company needs to
formulate a marketing mix strategy.
PROMOTION: Special offers,
Advertising,
User trails,
Direct mailing,
Free gifts,
Joint ventures

12. PEOPLE
People represent the business
1. The imagethey present can be important
2. First contact often human – what is the lastingimagethey provide to the customer?
3. Extent of trainingand knowledgeof the product / services concerned
4. Mission statements-howrelevant?
Do staff represent the desires culture of the business
PEOPLE: Employees,
Management,
Culture,
Customer services

13. PROCESS
How do people consumer services?
What processes do they have to go through to acquire the services?
Where do they find the availability of the services?
Contact
Reminders
Registration
Subscription
Form filing
Degree of technology
PROCESS: Especially relevant to services industries
How are services consumed?

14. PHYSICAL ENVIRONMENT
The ambience, mood or physical presentation of the environment
 Smart/ shabby?
 Trendy/ retro/ modern/ old fashioned?
 Light/ dark/ bright/ subdued?
 Clean/ dirty/ unkempt/ neat?
 Music?
 Smell?
PHYSICAL ENVIRONMEMT: Smart,
Run-down,
Interface,
Facilities