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All plans come as a Standard license, and can be upgraded to an Enhanced license at any time. Marketing mix is the decision which came out as the result of blending 4P’s to stimulate the demand of firm produtd and services.
Products are goods and services offered by company to the target market.Marketing mix use in a variety of ways by firms to pursue customer to buy and use their products.
Price is a amount which customer pays to buy the products and services.Price can also attract customer towards firm products and services such as Southwest Airlines offer low price services to their customers by offering normal service. Place are the set of activities which allow the firm to spread their availability of the products and services for the customers. Promotion is a way of communication to pass message to customers about firms products and services. There are two perspectives of marketing mix one is from buyer point of view and other is from customer point of view. The firm see themselves as the seller of the product the above discussion about the 4P’s tells the benefits of the seller not the customer.
Buyer looking toward the offering not as 4P’s, buyer is searching a solution within the product if the needs and wants are meet then first P(product) match the customer first C(customer solution). Firm offer their product at many location does not means that their availability is high, deep analysis is required before selecting the location for firm products and services.
There are several criticism on marketing mix due to this reason many versions of marketing mix are available on different text books. When checked, Shutterstock's safe search screens restricted content and excludes it from your search results.
Based upon its understanding of customers, a company develops its marketing mix of product, price, place and promotion.
Everyone who signs up gets full access to our entire library, including our curated collections. Our Standard license allows you to use images for anything, except large print runs over 500,000+ or for merchandising. Once you have downloaded your image, you have life-long rights to use it under the terms of the license purchased. The idea of this term is generated back in 1948 by James Culliton he said marketing decision should be the result of something like recipe. Marketing mix can be also defined as  tactical,strategic and controllable marketing tool contain product, price, place and promotion use by the firm to generate response from target market. The variety of options that firm can adopt came out from only four variable product, price, place and promotion.


It means they want to capture the target market on cost differentiation not on product differentiation.The price variables encompassed the following factors such list price,discount,allowances,payment period and credit terms. Physical existence is not the only criteria of place but virtual firms like amazon,eBay is also the part of third P(place). The other 3Ps (product,price and place) message is transferred via the 4th P(promotion), target market feel happy to know about the new product and services offered to them. Buyer always wish to get a good retail price for the product to increase his profit margin  but its not the thing most of the customers are not rarely bother about the price of the product,what they are looking for? If at any time you're unsatisfied with your experience with us, you can cancel your subscription. Some firms like to focus on their products so they will spend more on product packaging, quality, design, features, brand name and service, to offer  high brand products and services to target market. Wal-Mart with the huge number of retail outlets around the world move them to the number one company in the world.
Price factor in marketing mix encompassed the following factors channels, coverage, assortments,l ocations, inventory.
Firms most of the times promote their products by spending huge amount on advertising, personal selling, sales promotion and public relation.
Such as Mercedes Benz is an expensive car  but have its own niche market people feel proud to buy and drive the car just because of the product is completely differentiated from their competitors having numerous features. The second P(price) should take care of second C(customer cost) will lead the product towards the success, customer feel easy to buy the product at good market price.
Marketing budget is not the only thing to promote the products,what  matters is the communication message to the target market, seller should find out whether the message is quite clear to change the perception of buyers,to make them understand about the product,to communicate merits of the products, channels are appropriate or not.
When a change is proposed to be made in one of the elements, it has to be checked if the changed element still fits with and reinforces other elements, or has it started contradicting other elements, making the marketing mix less effective in serving customers. If the firm find the answers of these questions then their promotion strategy will work otherwise its a waste of money as well as time. Product: Product decision involves deciding what goods or services should be offered to customers.
The customer gets interested in the company primarily because of the product or service it is producing or proposes to produce. As technologies and tastes change, products become out-of-date and inferior to competition. Price: Price is the cost that customer is willing to bear for the product and the way it is made available to him. Price represents on a unit basis what the company receives for the product which is being marketed. Therefore, if a company is generous in giving discounts and allowances, it should keep its list price high.


Payment periods and credit terms also affect the real price, and if a company has generous payment periods and credit terms, it should keep its list price high.In comparison to other elements of the marketing mix, price can be changed easily.
But an ill-considered change in price can alter customer perceptions about the value of the marketing mix.
In the absence of any objective knowledge about the quality of the product, the customer builds a strong association between price and quality.If the price of a product is reduced, customers may start regarding it as an inferior quality product. If a company raises price, customers may consider it a high quality product, but there is also the risk that customers may regard the price as too high for the value that they are getting from the product.
Price change, though easy to make, should always be done taking into consideration the effect the change will have on the attractiveness or otherwise of the marketing mix.3. Promotion: Decisions have to be made with respect to promotional mix advertising, personal selling, sales promotions, exhibition sponsorship and public relations. An expensive product, like machinery, with limited number of customers should be promoted through personal contacts between buyers and salespersons.Advertising in the mass media would be wasteful as the number of customers is far too small, and it would be ineffective as the customer will not make a decision to buy such an expensive product based on a little information provided in an advertisement. But an inexpensive product bought by the mass market can be advertised in the mass media.Even the nitty-gritty of a chosen promotional tool should enhance the marketing mix. A customer does not buy a product unless he has formed certain expectations about the product. But if a product is hyped, though customer expectations are raised, he will be disappointed when he actually uses the product and does not find it up to his expectations. Such disappointments engender negative word-of-mouth publicity and may leave a permanent dent in the company’s reputation.4. Place:Place involves decisions concerning distribution channels to be used, the location of outlets, methods of transportation and inventory levels to be held. It will be extremely costly and cumbersome if the manufacturer had to set the entire infrastructure needed, to manage the transfer of goods to the customers. The manufacturer has to manage and structure relationships with these intermediaries in such a way that interests of the manufacturer and intermediaries are served.Distribution channels perform three distinct functions. They transfer products from the manufacturer to the customers, they pass information from the manufacturer to the customers, and they retrieve payment from the customers to the manufacturer.It is possible to segregate these three functions as alternate means of delivering products, passing information and collecting money are developed.
In internet marketing, information is provided on the manufacturer’s website, the product is sent from the manufacturer’s store to the customer through courier service, and payment is collected by banks through credit cards.A company should have an open mind while designing its distribution strategy.
The three functions have to be performed, but it is not essential that all the three functions are performed by one channel.



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