MARKETING MIX
, Marketing Mix
Marketing Mix is a combination of marketing
tools that a company uses to satisfy their target
customers and achieving organizational goals.
McCarthy classified all these marketing tools
under four broad categories:
>> Product , >> Price ,
>> Place , >> Promotion
These four elements are the basic components
of a marketing plan and are collectively called 4
P’s of marketing.
,Marketing Mix and 4P
, Product
Product: Product refers to the goods and
services offered by the organization. A pair of
shoes, a plate of rice, a lipstick, all are products.
All these are purchased because they satisfy
one or more of our needs. We are paying not for
the tangible product but for the benefit it will
provide. So, in simple words, product can be
described as a bundle of benefits which a
marketer offers to the consumer for a price.
While buying a pair of shoes, we are actually
buying comfort for our feet, while buying a
lipstick we are actually paying for beauty
because lipstick is likely to make us look good.
, Marketing Mix
Marketing Mix is a combination of marketing
tools that a company uses to satisfy their target
customers and achieving organizational goals.
McCarthy classified all these marketing tools
under four broad categories:
>> Product , >> Price ,
>> Place , >> Promotion
These four elements are the basic components
of a marketing plan and are collectively called 4
P’s of marketing.
,Marketing Mix and 4P
, Product
Product: Product refers to the goods and
services offered by the organization. A pair of
shoes, a plate of rice, a lipstick, all are products.
All these are purchased because they satisfy
one or more of our needs. We are paying not for
the tangible product but for the benefit it will
provide. So, in simple words, product can be
described as a bundle of benefits which a
marketer offers to the consumer for a price.
While buying a pair of shoes, we are actually
buying comfort for our feet, while buying a
lipstick we are actually paying for beauty
because lipstick is likely to make us look good.
