MARKETING

MIX

Prepared by:
1. Syeda Naina Hassan :Roll No-35
2. Manizah Maryam : Roll No-39
What is marketing? The definition that many marketers learn as they
start out in the industry is: putting the right product in the right place,
at the right price, at the right time.
 The 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 Ps like Packaging, Positioning, People and
even Politics as vital elements.
The marketing mix and the 4Ps of marketing are often used as
synonyms for one another. In fact, they are not necessarily the same
thing.
"Marketing mix" is a general phrase used to describe the different kinds
of choices organizations have to make in the whole process of bringing
a product or service to market.
 It was Neil Borden who first popularised the idea of the
marketing mix in the 1950s. Borden defined marketing
executive as somebody who fuses ingredients to make the
right recipe for marketing a product. Later, it was E. Jerome
McCarthy who sublimated the concept of 4Ps of
marketing from the Borden’s ideas of a marketing mix.
 McCarthy had highlighted that the 4Ps viz.Product, Price,
Promotion, and Place are the initial control elements that are
available to shape a marketing plan.
THE FOUR P’s OF MARKETING :

 Price refers to how much the product is worth. This is a factor of

production costs, competition, consumer demographics, supply
chain, and pricing strategy.
 Product refers to the item or service for sale. It is a factor of
performance, features, design, competition, and production issues.
 Place refers to where the product is sold. This is often a factor of
Internet web site listings, shelf placement, signage, retail or
wholesale channels, distribution, and geography.
 Promotion refers to the work companies do to make people aware
of the product or service. That might mean advertising, media
coverage, contests, word-of-mouth, direct marketing, social media
campaigns, or other efforts.
 FACTORS AFFECTING MARKETING MIX-

Final Words
This quick overview of the 4 Ps of marketing provides some insight into
a critical aspect of successfully taking a product or service to market.
Clearly defining product, price, place and time must all be considered
when developing a marketing strategy for any product or brand.
Whether dealing with a start-up or an established business, balancing
these four elements is critical to marketers working hard to position a
particular product or brand in the marketplace.