– The concept was coined by a American Marketing expert- John Culliton,
– The firm chooses the product, performs distribution function, carries out promotional measures, and lastly the firm uses the pricing mechanism.
The marketing mix has following sub-elements:
a) Product variable: design, quality, features, model, styles, appearance, size and warranty of products; Packaging, materials, size, appearance and level; branding and trademarks, service; pre-sell and after-sell; new products.
b) Place variable: Channel of distribution, types of intermediaries, channel design, location of outlet, physical distribution, transportation, warehousing, order processing, etc.
c) Price variable: pricing policies, level of pricing, level of margin, discounts and rebates (refunds), terms of delivery, payment terms, credit terms and installment facilities and Resale price, maintenance, etc.
d)Promotion variables: Personal selling, objective, level of effort, quality of sale force, cost level, levels of motivation, advertising; media mix, budgets, allocations and programmes, sales promotion efforts, display contests, trade promotions, publicity and public relations.