4 P’s of marketing or Marketing Mix
The term of marketing mix was given by James Culliton. Marketing mix means set of tools which are used by the firm to achieve its marketing objectives. Four p’s of marketing are classified by E. I. McCarthy.
- PRODUCT:-it is the first p of marketing which consists four dimensions.
- Product width: it means how many products company is producing. Like Shaving cream, oil, soap etc.
- Product length: means how many number of items in every product line. Like 5 kind of toothpaste, 6 kind of brushes etc.
- Product depth: means to number of items in each product line. Like Hero cycles offering different kind of cycle’s example. Ranger, ladybird, basic model etc.
- Product consistency: refers to how closely various products are related in the product line in end use.
Thus it is very important for the marketer to plan about the product to give full satisfaction to the consumer.
- PRICE: – It comes at second number in marketing mix. The is the responsibility of management to fix the right price of the product and its pricing policies like time period for credit, discount allowed to customer and other terms and conditions etc.
3. PROMOTION: – customer will not buy the product unless he has the knowledge about it. Therefore the company should do a lot of promotion of the product which can be done through advertisement, sales promotion, exhibition, personal selling, publicity etc.
4. PLACE OR PHYSICAL DISTRIBUTION: – It is the last “p” in marketing mix where the product moves from the manufacturer to the ultimate consumer. The movement of goods from one place to another is done through various channels of distribution, transportation, warehousing etc.