Fig 1a

The four P Comportants ol Die Mailing Win

INI '■ rketin .' The marketer's task is to devise marketing actIvilics and asseifr-

ble fully integrated marketing programs to create, communicate, a tu! deliver value for consumers. The marketing piOgrarn consists of numerous decisions on vaS tie-en hao Ling marketing activities to use. Marketing activities come irt ail forms, One traditional depiction of marketing activities is in terms of the marketing mix, which has been defined as the set of marketing tools die firm uses to puisne Its marketing objectives/' McCarthy classified these tools into four broad groups, which fie called the four Ps of marketing: product, price, place, and promotion.31

The particular marketing variables tinder each P are shown in Figure 1.4. Marketing-mls decisions must be made for influencing the trade channels as well as the final consumers. [;igurc 1-5 shows the totnpany preparing an offering mis of products, services, and prices, and utilising a communications, mÎK of advertising, sales promotion, events and experiences, public relations, direct marketing, and persona! selling to reach lite trade channels and the target customers.

The firm can change its price, sales force size, unci advertising expenditures in the short runj It can develop new products and modify its distribution channels only iit the long run, t hus the ft™ typically makes fewer period-to-period markedng-mb£ changes in the short run than the number of marketing-mix decision variables might suggest.

The four Ps represent the setters' view of the marketing tools available for influencing buyers. From a buyers point of view, each marketing tool is designed to deliver a customer

Communications mix

Offering mix
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