This document provides an overview of the marketing mix concept. It defines the marketing mix as the combination of factors that can influence a consumer's purchase decision, including the 4Ps of Product, Price, Place, and Promotion. The document discusses how the marketing mix is a set of marketing tools used to promote and sell products in the market. It provides definitions of the marketing mix from various experts and describes the original 4Ps framework developed by McCarthy as well as subsequent expansions to the framework over time.

1. Marketing Mix
Prepared by,
Pawan Kumar Gupta,
Assistant Professor, Department of Commerce,
MGGAC, MAHE

2. Marketing Mix- An Introduction
The term Marketing Mix was introduced by Neil H.
Borden in his article - "The Concept of Marketing Mix". In this
study he described the business executive as a "decider," an
"artist" – a "mixer of ingredients," who sometimes follows a
recipe prepared by others or prepares his own. marketing mix
is a variety of different factors that can influence a
consumer’s decision to purchase a product or use a service.

3. What is Marketing Mix?
Marketing Mix is a set of marketing tool or tactics,
used to promote a product or services in the market and sell
it. It is about positioning a product and deciding it to sell in
the right place, at the right price and right time. The product
will be than sold. The components of the marketing mix
consist of 4Ps Product, Price, Place, and Promotion. In the
business sector, the marketing managers plan a marketing
strategy taking into consideration all the 4Ps. However,
nowadays, the marketing mix increasingly includes several
other Ps for vital development.

4. Definitions
According to Philip Kotler, “ Marketing mix is the
combination of four elements called the 4P’s- Product,
Price, Promotion and Place that every company has the
option of adding, subtracting or modifying in order to create
a desired marketing strategy”.
According to W. J. Stanton, “Marketing mix is the
term used to describe the combination of the four inputs
which constitute the core of a company’s marketing system:
the product, the price structure, the promotional activities
and the distribution system”

5. What Are the 4’Ps?
Jerome McCarthy, the well known American
Professor of marketing, who first described the marketing
mix in terms of the four Ps. The classified the marketing
mix variables under four heads, each beginning with the
alphabet ‘p’.

7. 4’P created by E. Jerome McCarthy in 1960
7’P created by Booms & Bitner in 1980

8. The Marketing Mix 4’Ps
Product - The Product should fit the task consumers want it for, it
should work and it should be what the consumers are expecting to
get.
Place – The product should be available from where your target
consumer finds it easiest to shop. This may be High Street, Mail Order
or the more current option via e-commerce or an online shop.

9. Price – The Product should always be seen as representing good value
for money. This does not necessarily mean it should be the cheapest
available; one of the main tenets of the marketing concept is that
customers are usually happy to pay a little more for something that
works really well for them.
Promotion – Advertising, Sales Promotion, Personal Selling and, in more
recent times, Social Media are all key communication tools for an
organisation. These tools should be used to put across the
organisation’s message to the correct audiences in the manner they
would most like to hear, whether it be informative or appealing to their
emotions.

10. Components of the Marketing Mix (4P’S)
Product
Product variety
Quality
Design
Features
Brand name
Packaging
Sizes
Services
Warranties
Returns
Price
List price
Discounts
Allowances
Payment period
Credit terms
Place
Channels
Coverage
Assortments
Locations
Inventory
Transport
Promotio
n
Sales promotion
Advertising
Sales force
Public relations
Direct
marketing

11. Components of the Marketing Mix (Additional
3P’s)
People
Customer
Employees
Teamwork
Recruiting
Training
Motivation
Reward
Education
Satisfaction
Process
Customer involvement
Employee involvement
Standardization
Modernisation
Flow of activities
Timing
Physical-
evidence
Availability of
tangible- facilities
Accessibility
Equipments
Employee dress
Office- customization

12. CHARACTERISTICS OF MARKETING MIX
1. Marketing mix is the core of marketing process
2. Marketing mix has to be reviewed constantly in order to
meet the changing requirements
3. Changes in external environment facilitate alterations in
the mix
4. Changes taking place within the firm also necessitate
changes in marketing mix
5. Applicable to business and non-business organization
6. Helps to achieve organizational goals
7. Concentrates on customers

13. Importance of Marketing Mix
There are several benefits of the marketing mix that
makes it important to businesses.
•Helps in understand what your product or service can offer
to your customers
•Helps in plan a successful product offering
•Helps in with planning, developing and executing effective
marketing strategies
•Helps in businesses make use of their strengths and avoid
unnecessary costs

14. •Helps in proactive in the face of risks
•Help in determine whether your product or service is
suitable for your customers
•Helps in identify and understand the requirements of
customers
•Helps in learn when and how to promote your product or
service to your customers

15. Factors Affecting Marketing Mix

16. Factors Affecting Marketing Mix
Market Related Product Related
• Government policies
• Competition
• Consumer behaviour
• Various trade factors-
Distribution channels, trade
practices, intermediaries, etc.
• Product planning
• Branding
• Packaging
• Sales promotion
• Marketing research
• Advertising
• Personal selling

17. Q & A
Thank you