We have tried to provide simple definition of marketing mix with their meaning & examples. Marketing mix is the combination of the four marketing mix elements such as product, price, place and promotion. In case of services we can mention 3 extended p’s – Physical Evidence, Process and People. Along with these 4 elements 4 C’s are also an important part – Customer solution, Cost to customer, Convenience to customer and communication with the customer.

    Marketing Mix Definition

    “Marketing mix can be defined as the combination of the four inputs which constitute the core of a company’s marketing system – the product, the price structure, the promotional activities  and a distribution system.”

    Marketing Mix Meaning with examples

    Marketing mix focuses on four elements –

    1. The Product and related attributes such as brand name, look, design, etc. (for e.g. Soap)

    2. The price of product and related strategies such as Penetration Pricing or Skimming Pricing strategy (E.g. Reliance mobile adopted penetration pricing to introduce GSM & CDMA sim cards and mobiles to the market.)

    3. The promotional activities – Advertising, Publicity, Sales Promotion etc.

    4. The Place (Distribution system)-  focuses on distribution of product to the market

    Elements of Marketing mix

    QualtyList PriceArea Sales
    ShapePricing PolicyLocationPromotion
    BrandPricing StrategyTransportationPublicity
    ColorPrice DiscountWarehousingPersonal Selling
    DesignCash DiscountLogisticsPublic Relations
    VarietyQuantity DiscountMaterial HandlingDirect Marketing
    PackagingTrade DiscountChannel of Disribution
    RangeCredit termsDistributors
    WarrantyMode of paymentDealers
    GuaranteePenalty installmentsWholesalers
    After Sales ServiceBrokers

    4 P’s and 4 C’s of Marketing

    ProductCustomer Solution