The Marketing Mix

Marketing Mix

Is the set of marketing tools the firm uses to

pursue its marketing objectives in the target
market.
 The Marketing Mix
• The tools available to a business to gain the
reaction it is seeking from its target market in
relation to its marketing objectives

• 4Ps - Price, Product, Promotion, Place

• 7Ps – Price, Product, Promotion, Place, People,
Process, Physical Environment
 Marketing Mix of Product

Product Place

C
Price Promotion

2-11
The Marketing Mix for Services
 External Marketing Environment
External Environment
is not controllable Social
Social Ever-Changing
Change
Change Marketplace
Demographics
Demographics

Economic
Economic
Product Physical / Natural
Product Conditions
Conditions
Distribution
Distribution
Promotion
Promotion
Price
Price
Competition
Competition Target Market
Political
Political&&
Legal
LegalFactors
Factors
Technology
Technology
Environmental
Scanning

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 The choice of the marketing mix
depends upon
1)Marketing objectives
2)Marketing environment of the organization
3)Resource position of the firm
4)Marketing organization structures and
information systems
 The Marketing Mix
• The mix depends upon:
• Marketing objectives
• Type of product
• Target market
• Market structure
• Rivals’ behaviour
• Global issues – culture/religion, etc.
• Marketing position
• Product portfolio
– Product lifecycle
– Boston Matrix
 Elements of the Marketing
Program
Target
Market
Marketing
+ = Strategy
Marketing Marketing
Mix + = Plan
A Firm’s
Time-Related
Details + = Marketing
Program
Other
Marketing
Plans

2-14
 Difference Between - Sales & Marketing ?

Sales
trying to get the customer to want what the company
produces
Marketing
trying to get the company produce what the customer
wants

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Questions?