MARKETING MIX
Marketing decisions generally fall into the following four controllable
categories:-
1. Product
2. Price
3. Place (distribution)
4. Promotion
The term “marketing mix” became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a “mixer of ingredients”.
The ingredients in Borden’s marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis.E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P’s of marketing, Product, price, place and promotion.
These four P’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment.
The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response.
PRODUCT DECISIONS :
The term “product” refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made:
1. Brand name
2. Functionality
3. Styling
4. Quality
5. Safety
Marketing decisions generally fall into the following four controllable
categories:-
1. Product
2. Price
3. Place (distribution)
4. Promotion
The term “marketing mix” became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a “mixer of ingredients”.
The ingredients in Borden’s marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis.E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P’s of marketing, Product, price, place and promotion.
These four P’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment.
The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response.
PRODUCT DECISIONS :
The term “product” refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made:
1. Brand name
2. Functionality
3. Styling
4. Quality
5. Safety