Page 1 of 8

Journal for Studies in Management and Planning

Available at

http://edupediapublications.org/journals/index.php/JSMaP/

ISSN: 2395-0463

Volume 04 Issue 02

February 2018

Available online: http://edupediapublications.org/journals/index.php/JSMaP/ P a g e | 224

Role & Study on Marketing Mix in Indian Market

Udayagiri Raghunath, Research Scholar, Department of Management, Sunrise University, Alwar,

Rajasthan

Dr. Richa Singhal, Supervisor, Department of Management, Sunrise University, Alwar, Rajasthan

ABSTRACT

The main aim of this paper is to review the present marketing mix applies particularly to the

marketing. This study provides an idea to the marketers and can be used as tools or method to

assist marketers in pursuing their strategies for achieving marketing objectives. Marketing is the

process by which companies create customer interest in goods or services. It generates the

strategy that underlies sales techniques, business communication, and business developments. It

is an integrated process through which companies build strong customer relationships and

create value for their customers and for themselves. This paper will show that No marketing

man can assume that the marketing job is over once the elements of marketing mix are

assembled and employed. The mix may require constant changes.

INTRODUCTION

The concept of marketing mix is a business

tool used in marketing plan and other

marketing functions and by marketers. The

marketing mix is a crucial when determining

a product or brand's offer, and is often

associated with the four P's: price,

product, promotion, and place. In service

marketing, however, the concepts of four Ps

are expanded to the seven P's or eight P's to

address the different role or nature of

services. In 2012, a new four P's

theory was proposed with people,

processes, programs, and performance.

Marketing mix is discovered or originating

from the single P (price) of microeconomic

theory. McCarthy (1964) offered the

“marketing mix”, often referred to as the

“4Ps”, as a means of translating marketing

planning into practice (Bennett, 1997).

Marketing mix is not a scientific concept,

but merely a conceptual framework about

the product, price, place, promotion in the

market. Marketing is a very important

activity for the organization. In marketing a

lot of sub activities are performed.

Marketing includes the activities like

identification of demand, research, market

segmentation, product development,

launching of products, modification of

products, deletion of products, product

design, pricing, different types of pricing,

promotion of products and services, sales

promotion, personal selling, publicity,

public relations, adverting, distribution of

products and services, consumer behavior,

internal and international market coverage,

branding, packaging, labeling and many

Page 2 of 8

Journal for Studies in Management and Planning

Available at

http://edupediapublications.org/journals/index.php/JSMaP/

ISSN: 2395-0463

Volume 04 Issue 02

February 2018

Available online: http://edupediapublications.org/journals/index.php/JSMaP/ P a g e | 225

other activities. It is very difficult to have

clear idea regarding marketing activities.

The term marketing concept holds that

achieving organizational goals depends on

knowing the needs and wants of target

markets and delivering the desired

satisfactions. It proposes that in order to

satisfy its organizational objectives, an

organization should anticipate the needs and

wants of consumers and satisfy these more

effectively than competitors.

Marketing is one of the important activities

of an organization. It is through marketing

the products or services of the company are

reaching to the customers.

OBJECTIVE:

According to its introduction,

developments on the official landscape

and changes in customer and

organizational attitudes over the last few

decades have frequently prompted

marketing gurus to explore or develop

new theoretical approaches and

expanding the scope of the marketing mix

concept. Thus, the main objective of this

study is to review the present marketing

mix applies particularly to the Indian

Marketing Structure or we can say Indian

market scenario.

ELEMENTS OF MARKETING MIX

Product

The product is a combination of tangible and

intangible aspects of the products offered by

the manufacturer to the customers. It can be

defined as a bundle of satisfaction and

dissatisfactions offered by company to the

customers at a point of time. Their physical

attributes what they do, how they differ from

your competitors and what benefits they

provide. The products can be classified as

durable and non durable, consumers and

industrial goods, perishable and non

perishable, finished and semi-finished etc.

Price

Price means the monetary value of the

product has been fixed for exchange

purpose. The price is the amount a customer

pays for the product. It is fixed after

considering various factors such as market

share, competition, material costs, product

identity and the customer's perceived value

of the product. The business may increase or

decrease the price of product if other stores

have the same product. It is through price

the company gets its money back in

business. It should be fixed in such a way

the company is in position to recover the

costs and earn profits also. If it is fixed very

low then it may be difficult to come to the

breakeven point and if fixed very high then

it may have deterrent effect on the sale. The

prix decision is very sensitive and for that

special care is to be taken so that you may

get the competitive edge due to price

decision. Place (Also referred to as

Distribution) – Where your business sells its

products or services and how it gets those

products or services to your customers.

Promotion

Page 3 of 8

Journal for Studies in Management and Planning

Available at

http://edupediapublications.org/journals/index.php/JSMaP/

ISSN: 2395-0463

Volume 04 Issue 02

February 2018

Available online: http://edupediapublications.org/journals/index.php/JSMaP/ P a g e | 226

The promotion concept is applied for

products or services and to the business. The

promotion include all communications a

marketer used in the market for his products

of services to create awareness, persuade the

customers to buy and retain in future also.

For improvement in the position of sales or

progress of business this method is used.

The message is given to target group

regarding the features and benefits of the

products or services to the target customers.

Without communication the features,

benefits and schemes would not be known to

the customers and objectives of in launching

of products or services and increasing sates

would not be completed. When

communication creates awareness then only

the interest would be created and customers

would take the decision for buying. For

promotion different methods of

communication can be used.

Promotion relating to products, services,

branding and other activities undertaken by

the company is needed. The different teams

are involved. So there is need for

coordination among different teams,

sections, divisions, departments and

locations of the company. The coordination

is needed horizontally at same level,

vertically from corporate plan to

departmental plans, internal within the teams

or departments, external with advertising

and public relation agencies. The efforts for

promotion purpose are to be integrated so

that the efforts would be in the right

direction to achieve the objectively very

efficiently and effectively. Integration of all

marketing tools, approaches, and resources

within a company that maximizes impact on

consumer mind and which results into

maximum profit at minimum cost.

Place

Place represents the point or location where

the product is made available to purchase. It

is required that the products and customer

should be available at a point then only the

sales would be possible. If not then the sale

does not taken place. This term is used for

distribution channel. It can include any

physical store as well as virtual stores on the

Internet. Place is not exactly a physical store

where it is available Place is nothing but

how the product takes place or create image

in the mind of customers. It depends upon

the perception of customers. The products or

services should reach to the customer that

channel is called distribution channel of

placement.

People

The services are being provided with the

help of employees and to the customers.

There is direct contact for delivery of the

services to the customers. The type of

people providing the service matters a lot

from business point of view. The people are

to be selected, trained and motivated to keep

the customers very happy. So the people are

very important for service marketing. It is to

be managed effectively.

Process

For availing a service certain activities are to

be performed. For that purpose procedure,