Developing

The
Marketing
Mix
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.
The 4Ps make up a typical marketing mix -
Price, Product, Promotion and Place.
However, nowadays, the marketing mix
increasingly includes several other Ps like
Packaging, Positioning, People and even 2
Product
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 Product
In marketing a product is anything in the
form of good, service, or idea consisting
of a bundle of tangible and intangible
attributes that can be offered to a market
that might satisfy a want or a need and is
received in exchange for money or
something else of value.
Levels of Product

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Consumer Products

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Business
products
Industrial goods are materials
used in the production of other
goods, while consumer goods are
finished products that are sold to
and used by consumers.
Industrial goods are bought and
used for industrial and business
use. They are made up of
machinery, manufacturing
plants, raw materials, and any
other good or component used by
industries or firms. Consumer 7
Different types of business
products
✗ Raw Materials
✗ Processed Materials
✗ Equipment
✗ Basic Components
✗ Advanced Components
✗ Product Component
✗ MRO ( Maintenance, Repair and Operating)

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Product life cycle

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The Product
mix
Product mix, also
known as product
assortment, refers
to the total number
of product lines
that a company
offers to its
customers. 10
The product mix

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The Marketing Environment
The marketing environment is everything a company must
take into consideration in marketing planning. The elements of a
marketing environment include, but are not limited to, the
changing preferences of customers, competition, the legal,
political and regulatory environment, company’s own resources
and budget, current trends and the overall economy. All these
elements affect marketing decisions or at least they should ,
because all of them influence a company’s prospect.
The Marketing Environment
A company’s Marketing environment is composed of the
actors and forces outside marketing that affect marketing
management’s ability to build and maintain successful
relationships with target customers. Hence, companies should
constantly watch and adapt to the changing environment. More
than any other group in the company, marketers must be
environmentally updated and seekers of opportunities.
Two Types of Marketing
Environment
The marketing environment has two types of
environment namely the microenvironment and the
macroenvironment. Microenvironment are forces that
closely influence the company and directly affect the
organization’s relationships. The factors consist of the
company itself, suppliers, marketing intermediaries,
customer markets, competitors, and the general public.
 Macro-environment are major uncontrollable, external forces which influence a
firm’s decision making and have an impacts upon its performance.Even though marketer
has no direct control over the macro external environment, greater understanding and
awareness of these changing market conditions can be achieved through external
analysis. External analysis will help identify future events, uncover possible threats and
realize potential opportunities. The macroenvironment takes into account all forces that
can influence an organization, but are outside of their control. Therefore,
macroenvironment is less controllable. The macro environment consists of much larger
all-encompassing influences which impact the microenvironment from the broader
global society.
There are six major macro marketing environment forces to deal with (PESTLE):
political, economic, socio-cultural, technological, legal and environmental.
Thank
you!
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