Marketing Mix Elements: Product, Price, Promotion, Place, People

This presentation provides an overview of the key elements of the marketing mix - product, price, promotion, place, and people. It explains the importance of each element and how they contribute to the success of a business. The presentation also includes examples and references to support the information.

Portfolio

Product
• Product refers to the type of services or
products which are provided by
company to customers for through
which business activities are done.
• Organizations tend to develop products
or provide services in such a way that it
is can fulfil customer requirements by
which it can develop requirements of
product for customers through which it
can achieve high sales.

• Product lifecycle
• Organizations have to make sure that it
tends to develop new products according to
the product lifecycle in front of the
customers by which it can maintain
customer’s engagement with the
organizational activities.
• Product life cycle shows customer’s
engagement with the developed product
which is high in the initial stage then with
time it reaches saturation in which it is
having average amount of customer
interaction.

Cont...
Product placement
• Product placement has also to be done in such a way that company is
able to attract its specific targeted audience by which company can
evaluate the effectiveness of its developed working strategy.
Product according to market trends
• Organization has to develop products in such a way that it is able to
provide new and rare products to customers by which it can attract
wide range of customers towards the organization and can also
establish premium pricing on its to achieve high profit margin.

Price-
• Tesla provide products according to
customer need by which it can
achieve high sales and high profit
margin because of which it can make
sure that it is able to sustain in
changing market condition because
of which sustainability of
organization increases in terms of
achieving organizational goals.

Cont...
• Pricing strategy
• Company has to establish efficient profit strategy in such a way that it
achieves an efficient economic growth and also has to make sure that
per product price at consumer side is not high enough.
• Thus if pricing is set high enough then it will decrease customer’s
purchasing the product provided by the organization because of
which chances of brand switching will be increased.

Cont...
• Consumer reference pricing
Reference pricing is the price for the customer which is judged by the
customer in comparison with the market competitor or company’s
previous pricing because of which it can showcase its reduced pricing to
customers.
• Premium pricing
Premium pricing is the pricing strategy in which high price is established
on products as compared to other market competitions through which
company tends to develop a sense of achieving high quality product in
the mind of customers.

Promotion-
• Organizations have to develop their
promotional strategies by which it can
increase its customer count and also
retain its customer’s loyalty with the
organization by which it can make sure
that customer’s loyalty with the
• Promotion is important for
organization because through this it
can increase brand awareness for the
customers by which high sales can be
increased. organization is maintained.

Cont...
Direct marketing
In this process of promotion company tends to sell its products directly to
customers through the means of technological advancements because of
which it can achieve high sales without the help of intermediates because
of which through this action Coca-Cola can increase customer’s
engagement with the organization.
Public relationship
In this action company tends to develop a positive image in front of the
customers in such a way that it is able to develop a brand personality by
which it can motivate customers to increase their engagement with the
organizational activity by which chances of goal achievement can be
increased.

Cont...
Advertising
• Company can develop effective advertisement through which it
can showcase company’s vision and mission to the customers through
which it can increase the brand awareness for the organization.
• Personal selling-
• Coca-Cola can also use the traditional way of selling organizational
products to customers in which it uses company’s salesman for
interacting with customers in such a way that they are able to
effectively advertise company in such a way that high sales can be
achieved.

Place
 It is one of the other main important element of marketing mix that
can help company in increasing distribution of products.
 There are several ways by which company can distribute and provide
their products to customers.
 In regard to Unilever it can be said that it has global reach so, it
makes use of varieties of places for offering products to customers.

Cont...
Rural sales agent:
Unilever is known for its qualitative and variety of products but along
with this it is also known for its innovative skills in distribution strategy.
For providing convenience to customers it came up with the program of
training local women.

PEOPLE
 People are one of the most essential element of marketing mix which is based on any service or
experience.
 People just not only include all those member in the Marriott hotel where they are working but
also include those who is indirectly present in the company.
 For example, the receptionist or any service provider of Marriott which directly influence the
working of the company.
 On the other hand, consumers is not the part of the Marriott and doesn't have direct impact on the
functioning of organisation but they are definitely is the most vital factor for the Marriott hotel.

Cont...
People who directly contact the customer:
 Marriott should able to meet its demands they need in support of their goods and services.
 Hence, the customer service is an essential part of the hotel and should include the right
kind of people in their team.
 So, that th team is able to manage their customer because this could be the deal of
making or breaking.

References…
• Arab, N., 2018. Relationship between dimensions of Brand Equity and
4Ps of Marketing Mix-Place, Product, Promotion, & Price: Coca Cola-
Consumer Based Qualitative Survey.
• Steenkamp, J.B., 2017. Global marketing mix decisions: global
integration, not standardization. In Global Brand Strategy (pp. 75-
109). Palgrave Macmillan, London.
• Pomering, A., 2017. Marketing for sustainability: Extending the
conceptualisation of the marketing mix to drive value for individuals
and society at large. Australasian Marketing Journal (AMJ). 25(2).
pp.157-165.