MARKETING MIX

MARKETING MIX

Defn: The set of controllable tactical marketing tools – products, price, place and

promotion-that the firm blends to produce the response it wants in the target market.

Fig (Marketing Mix)

MARKETING MIX

ProductIt means the goods-and-services combination the company offers to the

target market.E.g., Tata IndigoPriceIt is the amount of money customers must pay to obtain the productE.g., Retail prices, discounts etc.PlaceIt includes company activities that product make available to target

customers.E.g., Tata Indigo partners with dealerships.

MARKETING MIX

PromotionIt means activities that communicate the merits of the product and persuade

target customers to buy it.E.g., Advertising

4Ps 4Cs Product Customer SatisfactionPrice Customer CostPlace ConveniencePromotion Communication