marketing mix ppt for the purpose of education

1. MARKETING MANAGEMENT
code- KMBN105
GROUP A
Submitted by – * Aakash Choudhary
Submitted to – Dr. Arun K. Jadon Sir
* Aayushi Tyagi
* Ajay Aggrawal
* Akash Sharma
* Akshit Tyagi

2. TOPIC
MARKETING MIX
AND
ITS ELEMENTS

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 then be sold, according to marketing and
promotional strategy.

4. DEFINITION
Marketing mix refers to the set of actions, or tactics, that a
company uses to promote its brand or product in the
market.
The 4ps make up a typical marketing mix - price, product,
promotion and place.
However, nowadays, the marketing mix increasingly
includes several other p’s like packaging, positioning,
people and even politics as vital mix elements.

5. IMPORTANCE
• Helps to understand what your product or service is
• Helps to plan a successful product offering
• Helps in planning, developing and executing effective
marketing strategies
• Helps businesses to make use of their strengths and
avoid unnecessary costs
• Helps to be proactive in the face of risks
• Help to determine whether your product or service is
suitable for your customers or not
• Helps to identify and understand the requirements of
customers
• Helps to learn when and how to promote your product or
service to your customers

6. HOW TO DEVELOP A MARKETING
MIX ?
• Define Your Goal and Set a Budget
• Study Your Target Customer
• Identify Your Unique Selling
Proposition
• Understand Your Competition
• Identify the Unique Features of Your
Product
• Create a Pricing Strategy
• Create a Pricing Strategy

7. BLEND OF THE MIX DEPENDS
UPON:
• Marketing objectives
• Type of product
• Target market
• Market structure
• Rivals’ behaviour
• Global issues – culture/religion,
etc.
• Marketing position
• Product portfolio
-Product lifecycle
-Boston Matrix

8. ELEMENTS OF MARKETING MIX – 4PS
THE MARKETING MIX ELEMENTS THAT MAKE UP AN
ORGANIZATION’S MARKETING PROGRAM:
1.PRODUCT
2.PRICE
3.PLACE
4.PROMOTION

9. THE MARKETING MIX
4P’S

10. PRODUCT
Product is a goods (such as mobiles, shoes etc.) or
services (such as hotels, airlines, etc.) that is
offered as a solution
to satisfy the
needs of your customer,
Considering the life cycle of product.
Ways - Extension strategies
Specialised versions
New editions
Improvements – real or otherwise!
Changed packaging
Technology, etc.

11. Example- Patanjali deals in different categories of products
which include shampoo, flour, toothpaste, etc. There are
many products in the market and each product have there
own competitors in the market. .

12. PRICE
knowing the market
Its Elasticity
And keeping an eye on rivals
• This will tell , the price your customer
is willing to pay for your product.
• This helps determine the profit you will
be able to generate.
• When setting a price for your product,
this will tell how much you have spent on
producing it, the price ranges of your
competitors, and the perceived product
value.

13. Example – If we wants to buy a mobile there are many
competitors and there are many segments. So price the
product should be reasonable and less than competitors
with good quality.

14. PLACE
The means by which products and services
get from producer to consumer and
where they can be accessed by the consumer.
This is about the distribution center of the product and the
methods used in distributing it to the customer.
It should be easily accessible to the customer.

15. Example- If you have a physical store, it should be
located in a place that can be easily discovered by the
customer.
If you own a website to market your product, make sure
it is easily navigable.

16. PROMOTION
Strategies
to make the consumer aware of the existence
of a product
or service
NOT just advertising
Promotion refers to the methods a business
uses to gain the attention of the customers
to their product. These includes sales
promotions, customer service, public
relations, advertising etc.
While creating promotion strategy, consider
the tactics used by your competitors, the
channels that are most effective.

17. Examples - print ads, radio, television, billboard, direct
mail, brochures and catalogs, signs, in-store displays,
posters, mobile apps, motion pictures, web pages, banner
ads, emails.

18. CONCLUSION
So, marketing mix is the basic and vital part of
marketing that includes 4 p’s and now a days it
is 7 or 8 p’s.
With the help of marketing mix we can tackle
the problem of market that are hurdles in the
growth and success of the business or
organization.

19. THANK
YOU