Topic: Marketing Management

Student Name: Aayush Gupta, Omisha

Date: 31/08/2024
Class: Marketing Management
Section: 3D
Subject Faculty: Stuti Jain
Subject Code:
 Marketing Mix
The marketing mix is defined by the use of a marketing tool that combines a
number of components in order to become harden and solidify a product’s brand
and to help in selling the product or service.
Marketing Mix is a set of marketing tool or tactics, used to promote a product or
services in the market and sell it. It is about positioning a product and deciding it to
sell in the right place, at the right price and right time. The product will then be
sold, according to marketing and promotional strategy.

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 7P Of Marketing Mix
There are 7 Types of Marketing Mix
1. Product
A product is a commodity, produced or built to satisfy the need of an individual or a
group. The product can be intangible or tangible as it can be in the form of services or
goods.
It should create an impact in the mind of the customers, which is exclusive and
different from the competitor’s product. There is an old saying stating for marketers,
“what can I do to offer a better product to this group of people than my competitors
2. Price
Price is a very important component of the marketing mix definition. The price of the
product is basically the amount that a customer pays for to enjoy it. Price is the most
critical element of a marketing plan because it dictates a company’s survival and profit
Things to keep on mind while determining the cost of the product are, the
competitor’s price, list price, customer location, discount, terms of sale, etc.
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 Continue…
Things to keep on mind while determining the cost of the product are, the
competitor’s price, list price, customer location, discount, terms of sale, etc.
3. Place
Placement or distribution is a very important part of the marketing mix strategy.
We should position and distribute our product in a place that is easily accessible
to potential buyers/customers
Place in the marketing mix encompasses the entire process of taking a product
from the manufacturer and making it accessible to the consumer, which can
include all intermediaries and distributors.
4. Process
We should always make sure that the business process is well structured and
verified regularly to avoid mistakes and minimize costs.

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 Marketing Mix
4. Promotion
It is a marketing communication process that helps the company to publicize the
product and its features to the public.
It is the most expensive and essential components of the marketing mix, that helps
to grab the attention of the customers and influence them to buy the product.
Most of the marketers use promotion tactics to promote their product and reach out
to the public or the target audience. The promotion might include direct marketing,
advertising, personal branding, sales promotion, etc.
5. People
It is important to hire and train the right people to deliver superior service to the
clients, whether they run a support desk, customer service, copywriters,
programmers…etc. It is very important to find people who genuinely believe in the
products or services that the particular business creates, as there is a huge chance of
giving their best performance.
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 Promotion Advertising

Advertising is the process of communication persuasive about the

product to target market by means of the written and spoken
words and by visual material
• There are few examples of principle media of advertising :-
Newspaper magazine journals etc
Commercial Television
Direct mail
Commercial Radio
Outdoor – Hoardings transport advertisement etc.
• The aim of the advertising is given below:-
Increase customer familiarity with a product
Inform the customers about specific features of a product
Encourage potential customers
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 Marketing Mix
1. Promotion - Personal selling
Personal selling is the promotion activity consists of face to face
meetings between the buyer and seller or his repetitive
Advertising creates the interest and the desire but personal
selling is the most expensive form of promotion
• Sale representative tasks:-
Gathering Information (feedback on customers reactions,
competitors activities etc)
Communicating regular information to customers and
prospective buyers.
2. Promotion - Sales Promotion :-
Sales promotion activities are a form of indirect advertising
designed to stimulate sales mainly by the use of incentives.
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 Promotion
• Customer oriented:-
Free samples
Twin pack bargains
Temporary price reduction
Point of sales demonstrations
• Trade oriented:-
Special discounts
Co-operating advertising
Bonuses prizes for sales representatives

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 Place – Channels of Distribution
Most common channels of distribution are given below:-
1. Channel A - Manufacturer  Customer
2. Channel B - Manufacturer  Wholesaler Retailer  Customer
3. Channel C - Manufacturer  Wholesaler Customer
4. Channel D - Manufacturer Retailer Customer
• Channel A represents a direct marketing channel. Manufacturing
of goods such as computer, ships and other large expensive items
tend to move them direct to the buyer without involving
middleman or inter middleman.
• Channel B Represents the typical chain for mass marketed
consumer goods manufacturer selling a wide range of products
over a wide geographical area to a market. Middleman are
important links in the channel. Wholesalers for example buy on
bulk from the manufacturer store the goods break them down into
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 Place
• Channel C represents one of the shorter indirect channels where
the retailers are omitted. This kind of operation can be found in
mail order business, and in cash and carry outlets. Wholesalers
buy prom manufacturer store and subsequently distributer
direct to customers on a nation wide basis
• Channel D is another version of a shorter indirect channel. In
the case it is the wholesaler who is removed from the scene not
surprisingly the retailers who dominate this channel are
powerful chains

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 Marketing Research
Marketing research is fundamentally about the segmentation and
analysis of information required for the marking of marketing
decision.
The former is oriented towards what is happening outside the
organisation in the market place. The second is oriented towards the
way in which the organization is responding internally to the
customers present and future
The marketing research study usually includes the followings steps:-
 Definitions of problems and specification of information to be sough.
 Design of the study with particular reference to data collection
methods (surveys), instrumentation (questionnaries), and simple
design.
 Field work
 Data analysis
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