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.

ELEMENTS OF

MARKETING

PRODUCT

• Product planning• New product development• Product features• Product variety• Branding• Packaging• Labelling• Standardisation & Grading• After Sale Services

• Pricing Objective• Pricing Policies• Price Fixation• Discount Policy• Concession Policy• Payment Period• Credit Terms• Profit Margin• Installment Payment

PRICE

• Advertising• Personal Selling• Sales Promotion• Public Relations• Dealers Aids• Customer Aids• Sales Contests• Displays• Demonstration

PROMOTION

• Distribution Channel• Inventory Level• Warehousing• Physical Distribution• Transportation

PLACE

FACTORS AFFECTING MARKETING MIX

UNCONTROLLABLE FACTORS CONTROLLABLE FACTORS

1. Consumer behaviour

2. Competitor’s Behaviour

3. Intermediaries’s Behaviour

4. Government’s Behaviour

1. Product policy2. Branding policy3. Packaging policy4. Pricing policy5. Promotion policy