Elements of a Marketing Mix
Rahul's Noteblog
Notes on Marketing Management
Elements of a Marketing Mix
Elements of a Marketing Mix:
The marketing mix comprises of four main elements: Pricing, Promotion, Product planning, and Physical distribution.
Pricing is the sale price of the product that the end user has to pay. The price cannot be too high or too low, but a perfect balance so as to appeal to a vast market segment.
Promotion deals with the advertising used to market the product. The product may be marketed using television, magazines, newspapers, or the internet.
Product planning has to do with the type of product to be created. For example, the product may be a toy aimed at children between the ages of 1-5 years old. The color and appearance of the toy may be decided during product planning.
Physical distribution has to do with setting the actual location of the distribution of the product. The product may be sold in small shops in demographically suitable areas, or sold at large departmental stores in major cities.
Additional Readings:
1. Functions and Elements of Growth in Marketing Management
2. Marketing Organization and Functions of a Marketing Manager
3. Functions and Essentials of New Project Planning
4. Types and Various Stages of Market Studies
5. Naming Products and Name Testing Research
6. Planning of Advertizing Budgets
7. Basic Steps of Test Market Studies
8. Trade through Selected Agencies
9. Price and Motivation of Marketing
10. Marketing Functions at different levels of Development
11. Elements of a Marketing Mix
12. Advantages and Disadvantages of Branding
13. Packaging and Sales Promotion
14. New Product Development Strategy
15. Screening a New Product
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