Marketing Mix Elements

The marketing mix is one of the most fundamentals concepts associated with the marketing process. it is well understood by most modern marketers and is systematically applied in many industries, especially those that deal with physical products. after marketers select target markets and decide on their overall competitive marketing strategy, they have to plan the detail of the marketing programme. A firms' marketing efforts must aim at providing customer satisfaction. For this purpose, the firm uses. demand-influencing variables that together constitute the marketing mix. The marketing mix has been defined as follows.

The marketing mix is the combinations of a product, how it is distributed and promoted, and its price.

Thus marketing mix is the blending of certain strategic elements to fit the need and preferences of a specific target market. The combination of such elements or variables determines the degree of marketing success. The marketing mix, like a puzzle, has numerous pieces that must be appropriately combined for a successful end result. it includes the products offers by the firm, the distribution channels it users to make the products available to customers, the price it charges for the products, and its promotion activities to popularize the products in the market.

Marketing Mix Elements

the marketing mix is the combination of the product, the distribution system, the price structure, and promotional activities. The term marketing mix is used to describe a combination of four elements-the product, price, physical distribution, and promotion. These are popularly knowns as "Four ps" These four elements or sub-mixes should be taken as instruments, by the management, when formulating marketing plans. A brief description below.

1. Products The products itself is the first elements. products must satisfy consumer needs. The management must first decide the products to be produced, the needs of the consumers. The product mix combines physical products, product services, brand, and packaging. The marketing authority has to decide the quality, type of goods or services which are offered for sale. A firm may offer a single product (Manufacturer) or several products (seller). Not only the production of right goods but also their shape, design, style, brand, package etc., are of importance. The marketing authority has to take a number of decisions of to product additions, product deletions, product modification, on the basis of marketing information.

2. Price The second elements to effects the volume of sale is the price. The marked or announced amount of money asked from a buyer is known as basic price-value placed on a product. Basic price alterations may be made by the manufacturer in order to attract buyers. This may be in the form of discount, allowances etc. Apart from this, the terms of credits, liberal dealings will also boost sales.

3 Promotions The products may be known to the consumer. Firms must undertake promotion work-advertising, publicity, personal selling etc., which are the major activities. and thus the publicity may be informed of the products and be persuaded by the customers. promotions are the persuasive communication about the products, by the manufacturer to the public

4. Distribution (Public) physical distribution is the delivery of products at the right time and at the right place. The distribution mix is the combination of decisions relating to marketing channels, storage facility, inventory control, location, transportation warehousing etc.

The sub-components of the Four Ps

Companies should view the four Ps in term of the consumer’s four Cs.

Marketing Mix