This document discusses the marketing mix, which is defined as the combination of product, price, place, promotion, people, process, and physical evidence that a company uses to satisfy customer needs and achieve marketing objectives. It explains each element of the 7Ps marketing mix framework. Product refers to the tangible and intangible aspects of what is offered to customers. Price includes factors like wholesale/retail prices and pricing strategies. Place involves distribution channels and inventory management. Promotion consists of advertising, publicity, personal selling, and sales promotion. People refers to properly selecting and retaining employees. Process is efficient product delivery. Physical evidence demonstrates brand existence and purchase confirmation.

1. Rashmitha H Y
1st m.com
Under the Guidance of
SUNDAR B.N.
Asst. prof. & Course co-ordinator
Post-Graduation studies in commerce
G.F.G.C.W.Holenarasipura
1

2. CONTENT
Meaning
Definition
Steps involved in marketing
mix
Elements of marketing mix
• (7 p’s) 2

3. MEANING OF MARKETING MIX
Marketing mix is a business strategy that
involvers the combination of product, price,
structure, distribution system and promotion
activities designed to satisfy the needs of target
marketing and the marketing objectives of an
enterprise.
3

4. DEFINITION OF MARKETING MIX
➢ According to McCarthy “Marketing mix is the
part of four sets of variables, namely, product
variables, price variables, promotion variables
and place variables”.
➢ According to Philip kotler “ Marketing mix
represents the setting of the firm’s marketing
decision variables at a particular point of time”.
4

5. STEPS INVOLVED IN MARKETING MIX
Identifying customers
Analyzing the needs
of customers
Designing product
mix
Test marketing
Adopting marketing
mix
5

6. 1) Product
2) Price
3) Place
4) Promotion
5) People
6) Process
7) Physical evidence
6

7. Product mix
The first element of
marketing mix is “product”
A product is anything that
can be offered to a market
for attention, acquisition or
consumption that might satisfied a want or need. It as both
tangible and intangible components, customers view
product as “ Bundle of satisfaction” rather then just
physical thing.
7

8. Price mix
Price also denotes
‘Quality in consumers’ The
Price mix includes –Deciding
on Wholesale and retail prices,
pricing policies, pricing strategies, discounts, allowances,
credit terms, level of margins, terms of delivery, payment
etc…. pricing decisions directly influence the sales volume
and profits of the business enterprises. On account of this
factors, pricing research is conducted while determining the
right price.
8

9. Place Mix
Place mix is the physical
distribution of products at the
right time and at the right place.
It includes decisions relating to the
section of marking channels,
storage facility, inventory control,
location, transportation,
warehousing etc… to offer efficient physical distribution
service. The marketer has to recruit and link various middleman
and marketing facilitators so that products can be efficiently
supplied to the target market.
9

10. Promotion Mix
The term ‘promotion’ refers to the various activities
under taken by a company to communicate the features of it’s
products to the target market to buy them. The different
method of promotion includes –advertising, publicity, personal
selling, sales promotion and public relations. the Company
hires, train, and motivates the salesforce for depend on the
following elements:
 The nature of communication
 The target audience
 The medium used to transmit the message
 The receivers’ perception of the source, i.c …. Message
received from friends, relatives, groups etc…
10

11. People Mix
It’s amazing how many
entrepreneurs and business people
will work extremely hard to think
through every element of the
marketing strategy and the marketing
mix, and then pay little attention
to the fact that every single decision and policy has to be carried
out by a specific way. Your ability to select, recruit, hire and retain
the proper, people , with the skills and abilities to do the job you
need to have done , is more important than everything else put
together.
11

12. Process mix
The process of delivering
your product to the consumer
should be designed for
maximum efficiency and
reliability, but may also include
features that are in line with your brand, such as being
environmentally or sustainably. Focused. With the rise in
online shopping, digital partnerships and logistics have
become an essential part of the marketing mix.
12

13. Physical evidences mix
Physical evidence
incorporates aspects that
proves your brand exists and
that a purchase took place.
This, of course, includes packing and branding, but
should also bring in the ways products are displayed in
stores, where they are placed, and the context in which
they sit, as well as digital placement, including on your
website and social media.
13

14. 1) Marketing mix for products consists of_ _ _ _ _ _ .
A. 4Ps
B. 7Ps
C. 8Ps
D. 5Ps
A. 4Ps
2) ---------- are the key elements of promotion mix.
A. Advertising and Sales Promotion
B. Publicity and Public Relations
C. Direct Marketing and Personal Selling
D. All of the above
D. All of the above
14

15. 3) Marketing mix for services includes_ _ _ _ _ _ .
A. 4Ps
B. 7Ps
C. 8Ps
D. 5Ps
B. 7PS
4)----------is not a part of marketing mix.
A. Product
B. Purpose
C. Place
D. Price
B. Purpose
15

16. Reference
Topic : Marketing Mix
Retrieved from,
Principle of marketing
Vedamurthy
16
https://www.indiaclass.com/marketing-mix-mcq/