Microsoft Word marketing doc

UNIT – IV 
 
4.0 MARKETING 
MIX
The basic task of marketing is the delivery of a total offer to the 
consumer in such a manner that, 
i.
the offer fulfils the needs of the consumer
ii.
the terms and attributes of the offer are acceptable and beneficial to the 
consumer and,
iii.
all the organisational goals, including profits are achieved in the process. 
Any firm which such a total offer to the consumer as, 
1. 
It chooses the product that would meet the identified needs of the chosen 
consumer/consumer groups 
2. 
It performs various distribution functions like transportation, 
warehousing, channel management etc., so that the product can 
conveniently reach the consumer. 
3. 
The firm carries out a number of promotion measures like personal 
selling, advertising and sales promotional programmes with a view to 
communicating with the consumer and promoting the product. 
4. 
The firm uses pricing mechanism to achieve the consummation of the 
marketing process, striking the level of price that is acceptable to the 
firm as well as the consumer. 
It can be easily seen that all activities and programmes which a business 
firm designs and carries out in its effort towards winning customers, relate to 
one or the other of the four elements – product, distribution, pricing and 
promotion. 
FIGURE 
MARKETING 
PROMOTION
PRODUCT 
PLACE
PRICE 
MIX 
These four elements constitute the marketing mix of the firm. 

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4.1
 
CONCEPT AND ELEMENTS OF MARKETING MIX
 
Jerome Mc Carthy, the well known American Professor of marketing 
who described the marketing mix in terms of the four P’s classifying the 
variables under four heads, each beginning with the alphabet ‘P’. 
1. 
Product 
2. 
Place (Distribution) 
3. 
Price 
4.
Promotion 
The terms Marketing Mix and the four P’s of marketing have come to be 
used synonymously. 
In each of the marketing mix elements or the four P’s – Product, Place, 
Promotion and Price – there are several sub-elements. 
For example, packing is one of the sub-element of product and 
transportation is one of the sub-elements of place or distribution. The complete 
set of marketing mix elements and sub-elements is presented in the chart below. 
Marketing Mix Variable/Four P’s of Marketing.