There are various elements that constitute a marketing programme of an organization. Marketing mix is linked with the culmination of all these components or factors. The key elements, which come under marketing mix, are product, price, promotion and physical distribution. These elements are known as 4 P’s, and are utilized for integrating different marketing actions.

These all elements are interconnected, and their main objective is the satisfaction of the consumer. The business firm has complete control over these elements, which are made up of many sub-variables that are explained as follows:

Product: The product is the first and chief element in the marketing mix. It is the root of all marketing actions. The other marketing efforts will prove ineffective, if the policies pertaining to product intended for sale are not decided. The different product related processes consist of style, quality, name, features, brand, color, packaging, labeling, branding, size, services, warranty etc.

Price: The product’s price is a crucial component in the marketing mix. Price is the value of a product expressed in the terms of money. Prices or pricing decisions are of a great importance to the producer, seller as well as to the customer. The activities that comes under this element comprises customers, pricing strategy, social responsibility, pricing policies, credit terms, allowances etc.

Physical Distribution: It is the third chief element of marketing mix. Physical distribution consists of the set of tasks involved in developing and carrying out the flow of materials and final goods, in order to satisfy the needs of customers. The main intention of physical distribution is the movement of goods from the producers to the users in the most effective way. The momentous marketing variables that fall under the physical distribution include distribution channels, marketing risk problems, storage, transportation, warehousing, inventory planning, material handling etc.

Promotion: Promotion is the forth element in the marketing mix. After deciding the nature of the product, fixing its price and selection of distribution methods, it’s the duty of the marketing manager to aware the consumer about the products that where, when and how the products would be available. The three main elements of promotion mix are advertising, personal selling and sales promotion and publicity.

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• 4 p's of marketing
• business marketing
• business promotion
• marketing
• promotion