Meaning of marketing mix, Product its features, Price, place-physical distribution and sales promotional tools, 8 Ps by Dhaval Mehta, Elements by R.S. Davar.

1. Marketing Mix
Asst. Prof. Parasmani Jangid
SDJ International College

2. Marketing Mix
• According to Phillip Kotler,
“Marketing Mix is the set of
marketing tools that the firms
uses to pursue its marketing
objectives in the target market”.
• According to R.S. Davar, “The
policies adopted by the
manufacturers to attain success
in market constitute the
marketing mix”.

3. Variables/Elements of
Marketing Mix/Four Ps in
marketing
• Jerom Maccarthy gave the 4Ps
of marketing which is termed
as marketing mix
• Product
• Place or physical distribution
• Price
• Promotion

4. Four Ps: Product
• Thing which has utility for customer
same is considered as product.
• It includes product planning, product
development, its quality, physical
features, its shininess, glamour, brand
name, packaging, guarantee, repairing &
other services connected with it.
• It includes 2 strategies-one to place a
new product in the market & second to
make changes in existing product as per
changing tastes, preferences, fashions
by collecting information through
market research & attract more
customers.

5. Four Ps : Place or Physical
distribution
• A proper channel of distribution
should be selected so that the
product can easily reach in the
hands of final consumers. The
mode of transportation &
storing facilities are to be
selected carefully.

6. • Place or physical distribution includes
channels of distribution, area, selling
centers, places for storage, mode of
transport, etc. The business should
select such channels of distribution,
area, selling centers, places for
storage, mode of transport which can
help customers to get products easily
with minimum cost.
• Channels of distribution include
wholesalers, retailers, middleman,
agents, etc.

7. Four Ps: Price
• The most important element which
includes price, trade discount, cash
discount, credit terms, collection
policy, etc.
• Price of a product is decided tacking
into account cost of production,
distribution cost, quality,
competition, govt controls,
profitability, demand, etc.
• Once the Price is fixed, changes can
be made as per demand of the
situation.

8. • 3 main criteria of fixing price are-
– Cost- a fix % of profit is added to the
cost
– Competition- prices similar to or less
than competitors e.g JIO is leading the
telecommunication market in India.
– Demand- prices are fixed at times as
per the demand of the product.
Sometimes different prices for different
customers for same product are
charged. i.e. price discrimination is
done.

9. Four Ps : Promotion
• Mere production is not enough. To
sell it, consumers must be well
informed of its existence must be well
informed of its existence &
advantages, be induced to purchase &
give special incentives like discounts,
free gifts, coupons, etc if necessary.
• In short, all the efforts made by the
company for increasing demand &
sales both & resultantly profits.

10. • There are 4 ways of promoting
sales:
– Advertising
– Publicity
– Personal Selling
– Sales promotion
All these 4 factors together are called
“promotion Mix”.
By introducing necessary changes in
these factors, increasing demand &
sales both & resultantly profits can be
obtained.

11. Other four Ps by Prof.
Dhaval Mehta
Other four Ps by Prof. Dhaval
Mehta
Packaging
• If packaging is attractive &
colourful, the customers will be
attracted to buy that product.
Packaging is called “five second
advertisement”.

12. Other four Ps by Prof.
Dhaval Mehta
• Public relations
• It is nothing but maintaining
good relations with various
institutions, chamber of
institutions, chamber of
commerce, management
associations, government
organizations, etc.

13. Other four Ps by Prof.
Dhaval Mehta
• Political power
• A company to be successful,
must have good political
influence so that laws, rules &
regulations affecting the co.
would be favorable to the co.

14. Other four Ps by Prof.
Dhaval Mehta
• Probing
• It simply means Market research.
Making a thorough study of the
market demand enables the
producer to making decision
whether to introduce a new
product, or make some changes in
tastes, preferences, fashion etc.
Without probing, company may
incur losses.

15. Elements of marketing Mix
by R.S. Davar
• Elements of marketing Mix by R.S.
Davar from his book “Modern
Marketing Management”.(8
elements)
1. General Planning
2. Product Planning
3. Pricing
4. Channel of Distribution
5. Sales Force
6. Advertising and Sales Promotion
7. Physical Handling
8. Marketing Research

16. Elements of marketing Mix
by R.S. Davar
• General Planning- it clarifies the
possibility of growth. Suitable
business environment, size,
extent(geographically), cost and
expenses will be estimated and
on the basis of same how much
fund will be needed.

17. Elements of marketing Mix
by R.S. Davar
• Product Planning- it includes the
functions such as i determining
the product or service offered, ii
possible improvement, iii brand &
packaging Policies, iv servicing &
service after sales. While for the
development of the product,
planning will include colour,
design, packing, etc. by keeping in
mind the end customers.

18. Elements of marketing Mix
by R.S. Davar
• Pricing-The most important
element which includes price,
trade discount, cash discount,
credit terms, collection policy, etc.
• Price of a product is decided
tacking into account cost of
production, distribution cost,
quality, competition, govt
controls, profitability, demand,
etc.

19. Elements of marketing Mix
by R.S. Davar
• Channel of Distribution- A
proper channel of distribution
should be selected so that the
product can easily reach in the
hands of final consumers. The
mode of transportation &
storing facilities are to be
selected carefully.

20. Elements of marketing Mix
by R.S. Davar
• Sales Force- includes
recruitment, selection, training,
remuneration, control and
incentives to the sales-men.

21. Elements of marketing Mix
by R.S. Davar
• Advertising & Sales Promotion-
it Includes Advertisement
programmes, importance of
Point of sale material, Extent of
sales Promotion and Extent of
sales promotion to dealers.
(Promotion Mix)

22. Elements of marketing Mix
by R.S. Davar
• Physical Handling-
Transportation, warehousing,
inventory prices, possible
reduction in costs.

23. Elements of marketing Mix
by R.S. Davar
• Marketing Research- sales
analysis field surveys and use of
outside agencies to plan better
for the product.

24. Optimum Marketing Mix
• That marketing mix which is the
most profitable from the
viewpoint of sales & profit is
known as “Optimum Marketing
Mix”.