The document discusses the marketing mix, which according to Philip Kotler is the set of controllable variables (the 4 P's of product, price, place, and promotion) that a firm can use to influence buyers. It explains that understanding customer needs is only the first step - a firm must then develop marketing activities to deliver value to customers. A successful marketing mix relies on interaction and synergy between the 4 P's. The document then provides more details on each of the 4 P's - describing what they are, factors to consider, and their role in the overall marketing strategy.

1. Marketing Mix
Module -1

2. Marketing Mix
According to Philip Kotler
“Marketing Mix is the set of controllable
variables that the firm can use to influence the
buyer’s response”.
The controllable variables in this context refer
to the 4 ‘P’s [product, price, place (distribution)
and promotion]

4. Cont’d…
• Understanding the nature of customers and their
needs and wants is only the first step of creating a
marketing strategy– promotional campaign.
• The brand/ organisation needs to act of that
information in order to develop and implement
marketing activities that actually deliver something
of value to the customer.
• The process that we go through is called the
‘Marketing Mix’.

5. Cont’d…
• Successful marketing relies as much on
interaction and synergy between marketing mix
elements as it does on good decisions within
those elements themselves.
• A good product with bad communication will
not work, and equally a bad product with the
glossiest advertising will not work either..

6. Product
• Product : Product refers to the goods and services offered by the
organization.
• This area covers everything to do with the creation, development
and management of products. It is not only about what to make,
but when to make it, how to make it, and how to ensure it has a
long a profitable life.
• Particularly with fast moving consumer goods (fmcg), part of the
products attractiveness is of course its branding and packaging
and the experience gain during and after the purchase.

7. Price
• Price: Price is the amount charged for a product or service. It is the
second most important element in the marketing mix. Fixing the price
of the product is a tricky job.
• Many factors like demand for a product, cost involved, consumer’s
ability to pay, prices charged by competitors for similar products,
government restrictions etc. have to be kept in mind while fixing the
price.
• In fact, pricing is a very crucial decision area as it has its effect on
demand for the product and also on the profitability of the firm.

8. Place
 Goods are produced to be sold to the consumers. They must be made available to
the consumers at a place where they can conveniently make purchase. It
includes…..
• Where do buyers look for your product or service?
• If they look in a store, what kind? A specialist boutique or in a supermarket, or
both? Or online? Or direct, via a catalogue?
• How can you access the right distribution channels?
• Do you need to use a sales force? Or attend trade fairs? Or make online
submissions? Or send samples to catalogue companies?
• What do you competitors do, and how can you learn from that and/or
differentiate?

9. Promotion
• Promotion: If the product is manufactured keeping the consumer
needs in mind, is rightly priced and made available at outlets
convenient to them but the consumer is not made aware about its
price, features, availability etc, its marketing effort may not be
successful.
• Therefore promotion is an important ingredient of marketing mix
as it refers to a process of informing, persuading and influencing a
consumer to make choice of the product to be bought.
• Promotion is done through means of personal selling, advertising,
publicity and sales promotion.