What is Marketing Mix

The Marketing mix refers to the set of actions , or tactics that a company uses to promote its brand
or product in the market.
Product contains various Ps:
 Product
 Price
 Place
 Promotion
Services contains various Ps:
 People
 Physical Evidence
 Process
 Product
This refers to what a
company produces
or provides to meet
the needs of the
customers.
Price
This refers to the
amount that one
has to pay to buy
that product.
Place Promotion
This is from where a This is the strategies
customer can buy a of the organization
product (for ex: that they make and
physical store, via implement to boos
mobile app). the sales of their
product and increase
their revenue.

Process
7ps Of Marketing Mix
Physical Evidence
The physical environment
The steps undertaken that is experienced by the
for completion or People customer at the time of
delivery of the services These are the employees that helps to deliver the interaction with the
services. business.
Product Place Promotion
Price

People
7ps For ABC Restaurant
Physical Evidence

Process
 Overview about GE Matrix
Origin: In 1970, General Electric (GE) engaged McKinsey & Company to consult GE in
managing its large and complex portfolio of strategic business units. McKinsey (not GE)
created this framework to help GE cope with its strategic decisions on a corporate level.

What is a GE Matrix?
The GE-McKinsey Matrix is a portfolio analysis tool used in corporate strategy to analyze
strategic business units or product lines.
This matrix combines two dimensions: industry attractiveness and the competitive strength
of a business unit into a matrix. Correspondingly, a business can direct its business units. It
can then determine where to invest, to hold their position, harvest or divest.
How does it Work?
 Components of GE Matrix
 Industry Attractiveness: Industry attractiveness represents the profit potential of the industry for a business
to enter and compete in that industry. The higher the profit potential, the more attractive is the industry.
 Competitive Advantage: This dimension measures the business’s competitiveness among its rivals. This
dimension indicates the business’s ability to compete in that industry. A business’s strengths give it an
advantage over its rivals.
 Invest Grow: The best position for a business to be in is the Invest/Grow section. A business can reach this
scenario if it is operating in a moderate to highly attractive industry while having a moderate to highly
competitive position within that industry.
 Selectivity Earning: The name itself suggest, it is a strategy in which business thinks whether it should
invest or hold back.
 Harvest/ Divest Strategy: These businesses do not have too many promising outlooks. The strategic
responses to consider are:

 Divest the business units by selling it to an interested buyer for a reasonable price. This also known as a
carve-out, or
 Choose a harvest strategy