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MAHTAB ALAMAssistant ProfessorManagement Department

Market Mix

TRINITY INSTITUTE OF PROFESSIONAL STUDIES Sector 9, Dwarka Institutional Area, New Delhi-75Affiliate Institution of G.G.S.IP.U, DelhiDisclaimer: All content of this Presentation are for classroom Teaching & learning only, not to be used for any other purpose.

Marketing Mix

Meaning & Definition

Marketing Mix consist core element of business marketing system which develops product and determine its price and helps in its distribution & promotion to satisfy the customers with the profit to marketers. It covers both product & service market.

Marketing mix is a combination of four elements-product, price, distribution system and promotional activities used to satisfy the needs of an organization's target market and at the same time achieve its marketing objectives.

--William.J.Stanton--

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

Elements of Marketing Mix

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

Product Product refers to the combination of all input in to a output which can be offered for sale. It consist shape, size, quality, range, package, labels, warranty, features & services etc.e.g TV , AC, Hotel Service, Legal service, Banking Service etc.

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

Price refers to the value received in exchange by selling product or service. Prcing involves decisions regarding the basic

Price of the productDiscount Allowances,Credit Terms of payments.Pricing

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

Place (Distribution)Place or Distribution refers to all the activities required to transfer the product from producer to end user through different types of channels of distribution

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

PromotionPromotion consists the various activities aimed at persuading customers to buy the product. It includesAdvertisingPersonal SellingSales PromotionPublicity/Public Relation

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

PeopleService Personnel play a very vital role in the marketing of services. Their attitude and behaviour exercise a major influence on the customers perception of the service and the company

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

ProcessProcess refers to the system by which the customer receives delivery of the services.In line operations, customers moves through a logically arranged operations in a sequence.e.g In a Fast Food Restaurant the process consist of Buying Coupons at one counter and packaging of food at another counter

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

Physical Evidence Tangible Elements in a service influence the image of the service in the minds of customers. ExamplesWaiter in dress is physical evidence of Hotel ServiceDoctor with Thermometer,are physical evidence of medical service

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75

TRINITY INSTITUTE OF PROFESSIONAL STUDIESSector 9, Dwarka Institutional Area, New Delhi-75