THE MARKETING MIX INTRODUCTION Marketing mix is the
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THE MARKETING MIX
INTRODUCTION Marketing mix is the blend or the compound of all the marketing efforts houring round the four ingredients namely product, price, promotion and place. These ingredients are interrelated and all revolve round potential consumer satisfaction as the focal point. A marketing mix so evolved is not stagnant but changing in tune and tone of changing internal and external forces.
PRODUCT PLACE ELEMENTS OF MARKETING PROMOTI ON PRICE
PRODUCT • • • Product planning New product development Product features Product variety Branding Packaging Labelling Standardisation & Grading After Sale Services
PRICE • • • Pricing Objective Pricing Policies Price Fixation Discount Policy Concession Policy Payment Period Credit Terms Profit Margin Installment Payment
PROMOTION • • • Advertising Personal Selling Sales Promotion Public Relations Dealers Aids Customer Aids Sales Contests Displays Demonstration
PLACE • • • Distribution Channel Inventory Level Warehousing Physical Distribution Transportation
FACTORS AFFECTING MARKETING MIX UNCONTROLLABLE FACTORS 1. Consumer behaviour 2. Competitor’s Behaviour 3. Intermediaries’s Behaviour 4. Government’s Behaviour CONTROLLABLE FACTORS 1. 2. 3. 4. 5. Product policy Branding policy Packaging policy Pricing policy Promotion policy
