Marketing Mix

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Re: Marketing Mix

#1 Postby Lal » Thu Jan 15, 2015 9:20 am

Marketing Mix is an important part of branding of a company or a brand. Branding includes marketing mix, brand elements and secondary brand association of the brand. Marketing is combination of 4P's which are Product,Price, Place and Promotion. These 4 components plays an important part in branding the product. We should have a quality product, should be strategically priced, taken through proper distribution channel and promoted through right mix of media.

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Re: Marketing Mix

#2 Postby ashayscmhrd » Sun Jan 11, 2015 5:01 pm

Marketing Mix which generally refers to the classification of various marketing activities into four broad categories which is also known as the 4P’s which is product, price, place, promotion, this was given by McCarthy. Products refer to the various attributes related to the product which is being marketed and constitutes the features, design, quality, services, size, brand name, packaging. It is important as in order to deliver value to the consumer the product must be able to satisfy the needs of the consumer in all of these parameters. Price of the product or service plays a very important role in the decision making of the consumer and also imbibes various offers, discounts, credit terms attached to a particular product. Place is important because in today’s world a product is sold the best if it available at the right place keeping the target customer in mind. In order to reach the right set of customer, a product needs to be present through the required marketing channels and locations. The coverage of the location plays an important part. And promotions such as advertising, public relations and sales promotions generates more sales for a particular offering. These days the marketing mix has also come to include the people, programs and processes.

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Re: Marketing Mix

#3 Postby khyatiimtn » Mon Nov 24, 2014 4:38 am

The marketing mix is a business tool used by the marketer to market their products. It is one of the most critical and sophisticated technique used by the marketer to enhance their product and related features. The marketing mix uses 4 P's for products and 7P's for services. The 4P's are product , price , promotion and place in case of products. In case of services however the other 3 P's are physical evidence , process and people. The marketing mix strategy using the right product with the right price at a right place with an effective promotions can create wonders. In case of services , the main P is people , as they are the biggest assets followed by the combination of the right process and an effective physical evidence. Therefore in any organisation, for the growth in the longer and the shorter run along with the profit , it is important to use the combination of the right P's.

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Re: Marketing Mix

#4 Postby vikasimtn » Mon Nov 24, 2014 2:45 am

Marketing mix is term used for describing the marketing program. It consists of 12 elements:
1) Product: Customer should buy. Anything that offered to market to satisfy need or a want. They are created to serve the market.
2) Pricing: Maximum price customer is willing to pay.
3) Branding: Perception of Customer.
4) Channels of Distribution: How firm goes to in touch with the customer for a variety of task ranging from demand generation to physical delivery of the goods.
5) Personal Selling: Salesperson acts as a bridge between firm and customer.
6) Advertising: Creating awareness, Describing features, creating brand image.
7) Packaging: Packaging works as a silent salesman. It convinces that product is economic and cheap.
8) Promotion: Generating interest in purchasing, repeat purchase etc.
9) Display: Sales promotion includes samples, coupons and contests.
10) Servicing: Services are performances. These are process based.
11) Physical Handling: Cash on Delivery, Logistics,
12) Market Research: Analysis and fact finding.

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Re: Marketing Mix

#5 Postby jayprakashimtn » Mon Nov 24, 2014 1:46 am

When talking about marketing mix, often only Product, Price, Place and Promotion are mentioned, but Packaging is also considered to be the fifth P. Packaging affects all the other P's. Attractive packaging its self is a promotional strategy, in case of convenience goods and impulse goods packaging can make the product stand out. In many cases where it's not possible to market the product using expensive channels, packaging can take place of promotion.

Cost efficient packaging can also save the cost incurred to the firm. For e.g. a firm can change the shape of its container to make it more appealing while at the same time the new shape can also consume less materials to produce it. By making the product cost efficient it also allows the maker to price the product more competitively.

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Re: Marketing Mix

#6 Postby ritishimtn » Sun Nov 23, 2014 11:00 pm

Marketing Mix is often associated with 4P's- Product, Price ,Place and Promotion. The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. All the elements of the marketing mix influence each other in creating and satisfying needs and building up a brand. They make up the business plan for a company and handled right, can give it great success in making up a huge brand value. But handled wrong and the business could take years to recover.However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.

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Re: Marketing Mix

#7 Postby Yash16 » Sun Jun 01, 2014 7:42 pm

Marketing mix is basically the 4P's of marketing. It includes;

These 4 P's are the parameters that the managers can control, subject to the internal and external constraints of marketing environment. The goal is to make decisions that enter 4P's on the customers in the target market in order to create perceived value and generate a positive response. This helps in effective marketing of the products and services.

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Re: Marketing Mix

#8 Postby ravidudhat » Wed May 21, 2014 4:37 pm

The marketing mix is a business tool used in marketing and by marketers . The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place.In service marketing, however, the four Ps are expanded to the seven P's or eight P's to address the different nature of services.A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service.Tangible products are those that have an independent physical existence. The amount a customer pays for the product. The price is very important as it determines the company's profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often it will affect the demand and sales as well.All of the methods of communication that a marketer may use to provide information to different parties about the product. Promotion comprises elements such as: advertising, public relations, sales organisation and sales promotion.

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Re: Marketing Mix

#9 Postby Priya16 » Mon May 19, 2014 9:56 am

The marketing mix is a business tool used in marketing and by marketeers. It consists of 4P's and they are Product, Price, Place and promotion.

Product: A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service.
Price: The amount a customer pays for the product.
Place: Refers to providing the product at a place which is convenient for consumers to access
Promotion: All of the methods of communication that a marketer may use to provide information to different parties about the product

These all elements exists in marketing mix. These all elements help in better marketing of the product.

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Re: Marketing Mix

#10 Postby JagadeeshISTTM » Thu May 08, 2014 8:56 pm

A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps:
These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income.

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