In an ever-evolving business environment, understanding the marketing mix—the cornerstone of marketing strategy—has never been more critical. As businesses navigate through the complexities of consumer behaviour, competitive forces, and technological advancements, the marketing mix offers a robust framework to devise effective strategies that resonate with target audiences.
This book is designed to provide readers with a comprehensive understanding of the marketing mix, commonly known as the 4 Ps: Product, Price, Place, and Promotion. These elements are the building blocks of any successful marketing plan, and their careful orchestration can mean the difference between a product’s success and its failure in the market.
As you explore the chapters ahead, you will discover not only the theoretical underpinnings of each element of the marketing mix but also practical insights drawn from real-world examples. The goal is to equip you with the knowledge and tools to apply these concepts effectively in various business contexts. Each chapter is crafted to build your expertise step by step, making complex ideas accessible and actionable.
Contents –
1. Introduction to Marketing Management
– Introduction to Marketing
– Characteristics of Marketing
– Defining Marketing Management
– Marketing Process
– Marketing Environment
– Introduction to Marketing Mix
– Product and Product Life Cycle
– Product Positioning: Significance and Importance
– Branding: Need and Importance
– Case Studies, MCQ’s, Fill in the Blanks and Long and Short Questions
2. Marketing Mix – Price
– Meaning and Objectives of Pricing
– Price Policy
– Factors affecting Pricing Decisions
– Significance of Pricing
– Methods of Pricing
– Steps of setting Pricing Strategy
– Types of Pricing Strategies
– MCQ’s, Fill in the Blanks and Long and Short Questions