MARKETING MIX

BY--- SHUBHAM SAINI (14BBA1227)CHANDIGARH UNIVERSITY

GHARUAN,MOHALI

MARKETING

• The term "marketing" is derived from the word "market," which refers to a group of sellers and buyers that co-operate to exchange goods and services.

• Marketing is defined as communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.

TYPES OF MARKETING• ONLINE MARKETING

• OFFLINE MARKETING

IMPORTANCE OF MARKETING

• Marketing Promotes Product Awareness to

the Public

• Marketing Helps Boost Product Sales

• Marketing Builds Company Reputation

MARKETING MIX• Factors managed by an organization that

influence the demand of a pro

• It is a combination of marketing tools that a company uses to satisfy their target customers, and achieving organizational goals. duct or service.

HISTORY• The term marketing mix was coined in an

article written by Neil Borden called “The Concept of the Marketing Mix.”

• The marketer, E. Jerome McCarthy, proposed a four Ps classification in 1960

4 P’S OF MARKETING

McCarthy classified all marketing tools under four broad categories:

• Product• Price• Place• Promotion• These four elements are the basic components

of a marketing plan and are collectively called 4 P’s of marketing.

4 P’S OF MARKETING

PRODUCT• Tangible or intangible item or service offered

to customers to satisfy a need or want.• Example:– Brand Styling and Packaging– Features/Benefits– Warranty

PRICE• Amount a product or service costs to

customers.• Often influences customers where to

purchase certain products or services.• Example:– Clearance: 500rs for everything– Buy 1, Get One 50% off

PLACE• Communication between businesses and

customers that guide them towards making a purchasing decision.

• Example:– Advertising– Publicity– Sales and Discounts

PROMOTION• How a product or service is delivered to

customers or businesses.• Examples:– Inventory– Distribution Centers– Transportation– E-Commerce

EXTENDED MARKETING MIX• In order to extend the usefulness of marketing

mix, some authors introduced seven P’s.• Booms and Bitner included three additional 'Ps'

to accommodate trends towards a service or knowledge based economy:

PEOPLEPROCESSPHYSICAL EVIDENCE/ENVIRONMENT• But the foundation of Marketing Mix still stands

on the basic 4P’s.

EXTENDED MARKETING MIX

PEOPLE• All people who directly or indirectly influence

the perceived value of the product or service, including knowledge workers, employees, management and consumers.

PROCESS• Procedures, mechanisms and flow of

activities which lead to an exchange of value.• Process become all the more crucial to

ensures standards are met with.• Process mapping ensures that your service is

perceived as being dependable by your target segment

PHYSICAL ENVIRONMENT

• The direct sensory experience of a product or service that allows a customer to measure whether he or she has received value. Examples might include the way a customer is treated by a staff member, or the length of time a customer has to wait, or a cover letter from an insurance company, or the environment in which a product or service is delivered

THANK YOU