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    Rishab Gupta
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    The document discusses the marketing mix, which was first introduced in 1960 as a concept to describe the variables a firm uses in its marketing strategy. The marketing mix provides a framework for effective marketing and is based on balancing key elements like the 4Ps - product, price, promotion, and place. For services, an expanded 7Ps model is more appropriate, adding people, process, and physical environment.

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    The document discusses the marketing mix, which was first introduced in 1960 as a concept to describe the variables a firm uses in its marketing strategy. The marketing mix provides a framework for effective marketing and is based on balancing key elements like the 4Ps - product, price, promotion, and place. For services, an expanded 7Ps model is more appropriate, adding people, process, and physical environment.

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    Attribution Non-Commercial (BY-NC)
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    3 views14 pages

    Marketing

    Uploaded by

    Rishab Gupta
    The document discusses the marketing mix, which was first introduced in 1960 as a concept to describe the variables a firm uses in its marketing strategy. The marketing mix provides a framework for effective marketing and is based on balancing key elements like the 4Ps - product, price, promotion, and place. For services, an expanded 7Ps model is more appropriate, adding people, process, and physical environment.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 14

    MARKETING

    MARKETING MIX
    Made by: Rishab Gupta 8253 B.sc(g) Mathematical Sciences

    MARKETING MIX
    A concept first introduced by Jerome McCarthy in 1960. Marketing mix are variables through which a firm carries outs its marketing strategy. It provide a recipe for effective marketing. Effective marketing is based on the right balance of marketing elements and processes depending on the nature of the product, service or idea being marketed.

    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 extended to encompass growth of service industry.

    THE FOUR Ps
    Product: Collection of features and benefits that
    provide customer satisfaction.

    Price: Value perceived

    in the mind of the customer.

    Promotion: Marketing communications.

    Place: Cover location, distribution, channels and


    logistics.

    Alternatives to the 4 Ps
    The 4 Ps Product, Price, Promotion, and Place PLUS People Process Physical evidence The 7 Ps are more appropriate than the 4 Ps in the marketing of services.

    THE 7 Ps

    PRICE

    PRODUCT

    PROMOTION

    PLACE

    PEOPLE

    PROCESS

    PHYSICAL ENVIRONMENT

    THANKING YOU

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