AHSANULLAH UNIVERSITY OF SCIENCE & TECHNOLOG

Topic: Marketing Mi

Course name: Marketing Management Course Code: MBA- 631

Prepared for

!ro"# Sira$%&&a%'a S(a(een Dean Faculty of Business and Social Science Ahsanullah University of Science !echnology

Prepared "y SATISH CHA)MA I* NO: +,#+-#./#+-0 MBA

Date of su"mission: #$th April% #&''(

1# 2(at i3 t(e 4arketing 4i 5

!he 4arketing 4i is pro"a"ly the most famous marketing term( )ts elements are the "asic% tactical components of a marketing plan( Also kno*n as the Fo%r !63% the marketing mix elements are price7 p'ace% pro&%ct7 and pro4otion# +ead on for more details on the marketing mi,(

-,ample:
!he concept is simple( !hink a"out another common mi, . a cake mi,( All cakes contain eggs% milk% flour% and sugar( /o*ever% you can alter the final cake "y altering the amounts of mi, elements contained in it( So for a s*eet cake add more sugar0

1# Li3t o" E'e4ent3 o" Marketing Mi #

Some commentators *ill increase the marketing mi, to the Fi8e !63% to include people( 1thers *ill increase the mi, to Se8en !63% to include physical evidence 2such as uniforms% facilities% or livery3 and process 2i(e( the *hole customer e,perience e(g( a visit the Disney 4orld3( !he term *as coined "y 5eil /( Borden in his article The Concept of the Marketing Mix in '678(

'( Price #( Products 9( Place :( Promotion 8( People 7( Physical evidence $( Process

/# !rice !here are many *ays to price a product( ;et<s have a look at some of them and try to understand the "est policy=strategy in various situation.Lesson>Exercise>Answer -# !'ace Another element Marketing Mi, is !'ace( Place is also kno*n as c(anne'7 &i3tri9%tion7 or inter4e&iar:# )t is the mechanism through *hich goods and=or services are moved from the manufacturer= service provider to the user or consumer( ;# !ro&%ct For many a pro&%ct is simply the tangi"le% physical entity that they may "e "uying or selling( >ou "uy a ne* car and that<s the product ? simple or may"e not( 4hen you "uy a car% is the product more comple, than you first idea( !here are t*o level of product life cycle !he Product ;ife Cycle 2P;C3 !he Customer ;ife Cycle 2C;C3( <# !ro4otion Another one of the :P<s is pro4otion( !his includes all of the tools availa"le to the marketer for <marketing communication<( As marketing mi,% marketing communications has its o*n <promotions mi,(< !hink of it like a cake mi,% the "asic ingredients are al*ays the same( /o*ever if you vary the amounts of one of the ingredients% the final outcome is different( .# !(:3ica' E8i&ence !(:3ica' E8i&ence is the material part of a service( !here are many e,amples of physical evidence% including some of the follo*ing: Packaging% )nternet=*e" pages% Paper*ork% Brochures% Furnishings% Signage Uniforms% Business cards% Mail"o,es and many others 0# !eop'e !eop'e are the most important element of any service or e,perience( Services tend to "e produced and consumed at the same moment% and aspects of the customer e,perience are altered to meet the <individual needs< of the person consuming it( =# !roce33

!roce33 is another element of the e,tended marketing mi,% or $P<s(!here are a num"er of perceptions of the concept of process *ithin the "usiness and marketing literature( Some see processes as a means to achieve an outcome% for e,ample . to achieve a 9&@ market share a company implements a marketing planning process(

1# *e8e'oping an: e""ecti8e 4arketing progra47 &o :o% t(ink t(at a'' t(i3 e'e4ent3 3(o%'& 9e con3i&ere&5 2(:5 E p'ain
!he marketing mi, and the : Ps of marketing are often used as synonyms for each other( AMarketing mi,A is a general phrase used to descri"e the different kinds of choices organiBations have to make in the *hole process of "ringing a product or service to market( Marketing mi, is a set of elements of : pCs *here developing any effective marketing program is plying more po*erful *ay( Promotion% Price% Place Products are more effective elements than otherCs *here targeting region of developing marketing plan( 4ithout marketing mi,% no one can develop an effective marketing( 1f course marketing *ill "e proceeding *ithout marketing mi, "ut that is not effective( 4ithout Promotion% products are not sold *ell and e,cept Products% customer may not a"le to "uy it( 1n the other hand price is a important element to understand customer optimum level of "uying a"ility and place is a most important than all of other elements *here customer and seller are meet together(