Key Elements of

Marketing Mix
By : Group 1
 Introduction

• Once you have identified your target audience and the competition, the next
thing on your to-do list should be developing a marketing mix.

• Every business needs its very own marketing mix to appeal to its customers.
In this post, we will discuss the marketing mix definition, its importance, the
elements of marketing mix and how to develop an effective marketing mix
for your product or service.  
• There are 7 P’s but 4 P’s Originally
 What is Marketing Mix?

• Marketing mix is a set of actions a business takes to build

and market its product or service to its customers.
What are the Elements of
Marketing Mix?
The 7 P’s of Marketing
 Product

• To begin, develop the habit of looking at your product as

though you were an outside marketing consultant brought in
to help your company decide wheter or not it’s in the right
business at this time.
Examples:
• Product Quality is the value of a product to customers. 
• Product Design describes the process of imagining, creating, and iterating
products that solve users’ problems or address specific needs in a given market.
• A Brand Name is a business name or domain name that helps the
audiences/customers to recognize and differentiate a specific product or service
from another one.
• Product Features are a product’s traits or attributes that deliver value to end-users
and differentiate a product in the market. 
• Product Packaging Definitions Packaging may be an art or science concerned with
the development and use of materials, methods and equipments for applying a product
to a container or vice versa designed to protect throughout the various stages of
distribution.
• Product Services means installation, End User training, support services and other
Licensed Product related services that are performed by Distributor with respect to
Licensed Products. 
 Price

• The Second P in the formula is Price. Develop the habit

of continually examining and reexamining the prices of
the products and services you sell to make sure they’re
still appropriate to the realities of the current market.
 Three Basic Methods

• Cost-based pricing
• Cost-price pricing
• Break-even pricing
 Pricing Method

• Product cost and consumer perceptions of the product’s value set the
extreme points at which you should set prices.
• When you set prices below product cost, do not expect to earn profits no
matter how many units you sell.
• On the other hand if you set prices to high the customer will hesitate to
buy.
• There are Three basic methods
• The list price, also known as the manufacturer's suggested retail
price (MSRP), or the Recommended Retail Price (RRP), or the
Suggested Retail Price (SRP) of a product is the price at which its
manufacturer notionally recommends that a retailer sell the product. 
• A Discount is the price offered or price reduced as compared to the
original value of the object or product.
• Credit terms are the payment terms mentioned on the invoice at the
time of buying goods.
• Market Entry the entry into a MARKET of a new FIRM or firms. In
the THEORY OF MARKETS, entrants are assumed to come into the
market by establishing a new plant, thereby adding to the number of
competing suppliers in the market (see GREENFIELD INVESTMENT).
Examples of Price
 Place

• The Third P on the list is Place

because services generally are
purchased and used at the same
time, the location where the
service is delivered plays a role in
the promotion, price and product.
• Channel marketing focuses on the distribution of products from
the manufacturer to the consumer.
• Coverage A measure of potential audience that might receive an
advertising message through a media vehicle.
• Transportation is indispensible function of marketing.
Transportation provides the physical means of carrying goods and
persons from one place to another. In other words, it is concerned
with carrying the goods from the places of production to the
places of their consumption.
• Location-based marketing is a strategy used by businesses to
target customers within a specified geographic region. In this
strategy, data from mobile devices with location services enabled
is gathered to help pinpoint customers in a certain area.
• Marketing Logistics involve the transportation of goods in a
planned manner which offers control over the distribution
mechanism. This is mainly a combination of marketing and
operations. Every business requires both the functions to operate
with a profit.
Example of Places
Promotion

• The 4th P is Promotion. Promotion is how

a business market it’s services. Promotion
strategy includes developing branding,
slogans and logos that convey the
intangible benefits the service provides
• There are 5 Types of Promotion
• Advertising is a way of communication. It is a marketing tool that
carries a large number of messages about products or services, price,
and so on. The advertisement is used to influence and inform people
about any service or product in the market. Advertisement is
connected with TV, radio, banners, and newspapers.
• Personal Selling is a face-to-face selling technique by which a
salesperson uses his or her interpersonal skills to persuade a customer
in buying a particular product. The salesperson tries to highlight
various features of the product to convince the customer that it will
only add value.
• Direct Marketing is a method of advertising wherein the aim is to
use a specific tool in order to achieve given advertisement related
action in a predetermined group of consumers.
• Sales Promotion definition A sales promotion is a marketing
strategy in which a business uses a temporary campaign or offer
to increase interest or demand in its product or service.
• Public Relations (PR) is publicity and other activities that build
corporate or product image to facilitate marketing goals. Many
companies are turning to Marketing Public Relations (MPR) to
support corporate or product promotion and image making. 
Types of Promotion

• Discounted products.
• Free delivery and acknowledge return.
• Flash sales.
• Buy more, save more.
• Product giveaways or branded gifts.
People

• The 5 P on the list and the most

th

important resource of any organization

is it’s people. Much of how customers
rate the service experience hinges on
the person delivering it.
Professionalism and courtesy go a long
wai in any service business.
Packaging

• Develop the habit of standing

back and looking at every
visual element in the packaging
of your product or service the
eyes of a critical prospect.
Positioning

• The Last P is Positioning. You should

develop the habit of thinking continually
about how you are positioned in the
hearts and minds of your customers.
• Market positioning it is your spot/place
in the mind or heart of your costumer.
 There are 3 steps when we are doing market
positioning

• 1. List all your advantages

• 2.focus on your edge or on your best advantages
• 3. Communicate your edge
Example of Positional Map
Thank you for listening and Participating!
 Prepared By: Group 1

Leader : Angela Venice Lagman

Members:
Miko Polo Cuartero
Beajane Libanan
Mark Gerald Mahinay
Allysa Velasco
 Source:

• Elements of Marketing Mix | What is Marketing Mix (creately.com)

Principle of Marketing: Packaging as a marketing mix (len.com.ng)
• Dove - Marketing Plan (slideshare.net)
• http://www.bmindstoday.com/the-marketing-mix-4-ps-policy/
• promotion business - Bing images
• Business organisation | Stock image | Colourbox