What Are The Different Components of Marketing Mix?

1. Product
. It can be defined as anything that is offered for sale in the open market. It includes not only tangible goods but also intangible goods like services and ideas.
2. Price
Price is the exchange value of a product i.e. the amount for which a thing is bought or sold.
3. Place
. Another important aspect of marketing is to make the product available at the right place, for which various other activities have to be undertaken. It includes sub-variables such as channels of distribution, place of distribution, transportation, warehousing and the intermediaries involved in the process of distribution.
4. Promotion
Promotion mix includes all the activities undertaken by an organization to promote its products in the target market. It includes sub-variables such as advertising, sales promotion, personal selling, public relation, publicity, direct marketing etc.
   Product Mix
   Price Mix
   Place Mix
   Promotion Mix
   Product Line
   Pricing policies
   Channel of distribution
   Advertising
   Product Shape
   Discounts
   Wholesalers
   Sales Promotion
   Product Size
   Rebates
   Retailers
   Personal Selling
   Brand Name
   Installments
   Place of distribution
   Publicity
   Product Colour
   Level of margins
   Transportation
   Public relation
   Trademark
   Credit terms
   Warehousing
   Direct marketing
   Product ingredients
 
   Inventory levels
 
   After Sale Service