Subject: Fundamental of marketing

Class: BBALLB
University Institute of Legal Studies
1

www.cuchd.in Campus: Gharuan, Mohali

 VISION

Marketing MIx
.

2
www.cuchd.in Campus: Gharuan, Mohali
 Content
VISION

 Meaning of marketing mix

 Definition of marketing mix
 Nature of marketing mix
 Elements of marketing mix
 Factors affecting marketing mix
.  Importance

3
www.cuchd.in Campus: Gharuan, Mohali
 Meaning VISION
of “Marketing Mix”

Marketing Mix is the policy framework adopted by the

marketer to get success in the field of marketing.

It. refers to the amounts and kinds of marketing variables ,

the firm is using at a particular time.

It includes Product mix, promotion mix , price mix and

promotion mix.

4
www.cuchd.in Campus: Gharuan, Mohali
 VISIONMix”
“Marketing

5
www.cuchd.in Campus: Gharuan, Mohali
 “Marketing
VISIONMix”

4 P’s
4 C’s
Product
.
Price Customer solution
Place Customer Cost
Promotion Convenience
Communication

6
www.cuchd.in Campus: Gharuan, Mohali
 Definitions OfVISION
Marketing Mix
According to Mc Carthy

“ Marketing mix is the pack of 4 sets of variables namely

product , price , promotion and place variables”.

According to philip kotler

“ the set of controllable variables that the firm can use to
influence the buyer’s response.”

7
www.cuchd.in Campus: Gharuan, Mohali
 Nature Of Marketing
VISION Mix
Product Mix
Place Mix
Price Mix
Promotion Mix

8
www.cuchd.in Campus: Gharuan, Mohali
 Elements ofVISION
Marketing Mix

9
www.cuchd.in Campus: Gharuan, Mohali
 1. Price
VISIONMix

Price is the value of a product expressed in terms of

money . Exchange of goods and service take place
only when the price is agreed upon between
buyer & the seller.

10
www.cuchd.in Campus: Gharuan, Mohali
 1. Price
VISIONMix

1. Pricing objectives
2. Pricing Policies
3. Price Fixation
4. Discount policy
5. Concession Policy
6. Payment period
7. Credit terms
8. Profit margin
9. Installment payment
10. Resale price maintenance

11
www.cuchd.in Campus: Gharuan, Mohali
 1. PRICE
VISIONMIX

12
www.cuchd.in Campus: Gharuan, Mohali
 2. Product
VISION Mix

The product is the focus of all marketing activities. Product is the sum
total of tangible and in tangible attributes including , product design,
style, size, quality, color , brand name , packaging etc.

Product mix is the total of all product, offered for sale by a company.

Product Planning
New product development
Product features, product variety, branding, packaging, labelling,
standardisation & grading , after sale services , guarantee & warranty

13
www.cuchd.in Campus: Gharuan, Mohali
 2. PRODUCT
VISION MIX

14
www.cuchd.in Campus: Gharuan, Mohali
 3. Promotion
VISION Mix
It is a mean by which marketeer talk to its existing and potential
customers. Promotion is an effort to push forward goods & services in
such a way so that they gain customer’s acceptance.
Personal sellings
Sales promotion
Trade fairs & exhibitions
Public Relations
Dealers aids
Customer aids
Displays, demonstrations, exhibitions etc

15
www.cuchd.in Campus: Gharuan, Mohali
 3. PROMOTION
VISION MIX

16
www.cuchd.in Campus: Gharuan, Mohali
 4. Place
VISION Mix

It is the distribution mix. It is concerned with the smooth flow of goods &
services from the producer to consumer by creating time, Place and
possession utilities. It signifies 2 things namely: Physical distribution & the
channels of distribution.
1. Channels
2. Distribution area
3. Inventory level
4. Warehousing
5. Locations
6. Transportation
7. Assortments , Wholeselling , Retailing & physical Distribution.
17
www.cuchd.in Campus: Gharuan, Mohali
 4. PLACE
VISIONMIX

18
www.cuchd.in Campus: Gharuan, Mohali
 5. PEOPLE
VISION MIX

19
www.cuchd.in Campus: Gharuan, Mohali
 6. PROCESS
VISION MIX

20
www.cuchd.in Campus: Gharuan, Mohali
 7. PHYSICAL ENVIRONMENT
VISION MIX

21
www.cuchd.in Campus: Gharuan, Mohali
 Factors affecting marketing mix
VISION

Uncontrollable factors :

1) Consumer’s behaviour : It is affected by buying habits , living standard

, social environment , fashion , social status , desires , attitudes ,
change in technology etc.
2) Competitor’s Behaviour

3) Intermediaries’s Behaviour

4) Government’s Behaviour: Rules & regulation in respect of product

quality , product design , pricing & advertising etc.
22
www.cuchd.in Campus: Gharuan, Mohali
 Factors affecting marketing mix
VISION

Controllable factors :
1) Product policy
2) Branding policy
3) Packaging policy
4) Pricing policy
5) Promotion policy
6) Distribution policy
7) Other factors

23
www.cuchd.in Campus: Gharuan, Mohali
 Importance of marketing mix
VISION

1) Helps in meeting environmental changes .

2) To allocate the responsibilities.
3) To take care of needs of the customers
4) To analyze cost benefit elasticity.

24
www.cuchd.in Campus: Gharuan, Mohali