When

marketing their products firms need to create a successful mix of: the right product sold at the right price in the right place using the most suitable promotion.

 Marketing

decisions generally fall into the following four controllable categories: 1. Product 2. Price 3. Place (of distribution) 4. Promotion

 These

4 Ps are parameters that the marketing manager can control, subject to the internal and external constraint of the marketing environment. The goal is to make decisions that center the 4 Ps on the customers in the target market in order to create perceived value and generate a positive response.

The term product refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made: Brand name Functionality Styling Quality Safety Packaging Repairs & support Warranty Accessories & services

Some pricing decisions: Pricing strategy (skim, penetration, etc.) Suggested Retail Price Volume discounts & wholesale pricing Cash & early payment discounts Seasonal pricing Bundling Price flexibility Price discrimination

Distribution is all about getting the products to the customers. Decision distributions are as follows: Distribution channels Market coverage (inclusive, selective or exclusive distribution) Specific channel members Inventory management Warehousing Distribution centers Order processing Transportation Reverse Logistics

In the context of the marketing mix, promotions represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response.

Marketing communication decisions include:

Promotional strategy (push, pull, etc.) Advertising Personal selling & sales force Sales promotions Public relations & publicity Marketing communications budget

 Creating

a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. The combining and coordination of these elements will be more effective than depending on one.

The marketing mix helps you define the marketing elements for successfully positioning your market offer. One of the best known models is the Four Ps, which helps you define your marketing options in terms of product, place, price and promotion. Use the model when you are planning a new venture, or evaluating an existing offer, to optimize the impact with your target market.

People - People refer to the customers, employees, management and everybody else involved in it. It is essential for everyone to realize that the reputation of the brand that you are involved with is in the people's hands. Process - It refers to the methods and process of providing a service and is hence essential to have a thorough knowledge on whether the services are helpful to the customers, if they are provided in time, if the customers are informed in hand about the services and many such things. Physical (evidence) - It refers to the experience of using a product or service. When a service goes out to the customer, it is essential that you help him see what he is buying or not. For example- brochures, pamphlets etc serve this purpose.

Blend of 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