MARKETING MIX

The marketing mix consists of various elements, which have broadly been classified into four categories, popularly known as four Ps of marketing. These are:

1.products

2.price

3.place

4.promotion


 A) PRODUCT

product mean good or service or 'anything of value ' which of offered to the market for sale. 

for examples: Hindustan lever offers number of consumer production like toiletries (close -up toothpaste, Lifebuoy soap, etc. ) detergent powder (surf, wheel), food product (refined vegetable oil) tata offer steel,  truck salt and a large number of other products; LG electronics offers television, refrigerators, colour monitors for computer, etc. Amul offer a number of food products (Amul milk, ghee, butter, cheese, chocolates, etc.)

ELEMENT OF PRODUCT

1.product mix

2.product quality 

3.new product

4.design and development

5.packaging

6.labelling

7.branding

 

B) PRICE

price in the amount of money customers have to pay to obtain the product. In case of must of the product level of price affect the level of  their demand. The marketers have not only to decide about the objective of price setting but to analyse the factors  determining the price and fix a price of the firm's product. Decisions have also to be taken in respect of credit terms, etc.., so that customer perceive the price to be in line with the value of the product.

ELEMENT OF PRICE

1.price level 

2.margins 

3.pricing strategies

4.pricing policy

5.price change


C) PLACE

place or physical distribution include activities that make firm product available to the target customers . Important decision areas in this respect include selection of dealer or intermediaries  to reach the customer, providing support to the intermediaries ( by way of discount, promotional campaigns, etc. ). the intermediaries in  turn keep inventory of the firm product demonstrate them to potential buyers, negotiate price with buyers close sales and also service the product after the sales.

ELEMENT OF PLACE

1.channel strategy 

2.channel selection

3.chennel conflict

4.channel cooperation

5.physical distribution


D) promotion:

promotion of product and  service include activities that communicate availability, feature, merits, etc. of the product to the target customer and persuade them to buy it most marketing  organisation undertake various promotional activities and spend substantial amount of money on the promotion of their good through using number of tool such as advertising personal selling and sale promotion techniques (like price discount, free samples, etc. A large number of decision are to be taken on each of the area specified above. For example , in the respect  of adverting it is important to decide about the message, the media to be used ( example, print media newspaper, magazines , the objective of customer , etc.) . 

 ELEMENT OF PROMOTION

1.promotion mix

2.advertising

3.personal selling 

4.sales promotion 

5.pubicity

6.public relation

google