Transcript Marketing mix

The marketing programme of an organization
consists of a number of elements or variables.
Marketing mix refers to the culmination of these
elements.
The term marketing mix was coined by Neil H.
Borden, and is used to describe the combination
of the fair inputs which constitute the core of a
company’s marketing system:
The
The
The
The
product
distribution system
price structure
promotional activities
‘Four P’s’ of marketing mix are as
follows:
Product variables or the product mix.
Place variables or the distribution mix.
Pricing variables or the pricing policy.
Promotion variables or the promotion mix.
Most important element in marketing mix
It is the total assortment offered by an
enterprise.
Its three dimensions are:
•Width: The width of the product mix refers to the
various product lines offered by the firm.
•Depth: The depth refers to the average number of
items offered.
•Consistency: the consistency of the product mix
refers to how closely related the various product
lines are in and use, productions requirements, and
distribution channels etc.
The product mix includes the
following important variables:
Product line, range, quality, features, design, color,
size, shape etc.
New product policy, research and development
programmes.
Diversification and simplification of product lines.
Branding, packing, standardizing and trade marks.
Merchandising and services to be offered, both pre-sale
and after sale.
An extremely important element in its marketing
mix.
Prices and pricing decisions are of great
importance to the producer, seller and the
consumer.
Price means the money consideration asked for
or offered or exchanged for a specified unit for a
good or service.
Prices are determined by market conditions.
The objectives of pricing and cost considerations
are of utmost importance for the management.
The price mix includes the
following:
Determination of the right price.
Pricing policies and strategies.
Discounts , rebates and levels of margins.
Credit policy.
Terms of delivery, payment , and
Resale price maintenance , etc.
Comprises the set of tasks involved in
planning and implementing the physical flow of
materials and final goods from points of origin
to points of use or consumption to meet the
needs of costumers at a profit.
The primary objective is the movement of
goods from the producers to the ultimate
consumers in the most effective and efficient
way so that the goods reach the consumers at
the right place where they are required.
Increases sales by making the
goods available in the market by
processing of orders quickly and
efficiently.
Reduces cost by efficient
material handling, inventory
planning and control, better
storage facilities, effective
transportation and communication,
and provides better customer
service.
The physical distribution includes
the following:
Channels of distribution decisions.
Transportation mix considerations.
Storage and warehousing.
Marketing risk problems.
Material handling.
Inventory planning and control decisions.
Order processing.
Fourth and final element in the marketing mix.
It is the duty of the marketing manager to make the
consumer know where, when and how the products would be
available.
He makes them interested in buying the products of the
firm.
Promotion means the persuasive communication about the
product.
The three basic elements of promotion mix are:
•Advertising.
•Personal selling.
•Sales promotion and publicity.
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