MARKETING MIX

MARKETING MIX

The elements of product, price, place,

and promotion are referred to as marketing mix.

Meaning

Product mix

Different types of products a firm manufactures and markets is called a

product mix.

Meaning

Price mix

The decision relating to pricing of a product or service are called price mix.

In pricing a new product, two strategies – skimming price policy and penetrating price policy.

Meaning

Place mix

Marketing effort undertaken to make the product available at the right time in the

right place is place mix.

Meaning

Promotion mix

Promotion mix involves decision about advertising, personal selling and other

sales promotion techniques.

Meaning