Customer Satisfaction

INTRODUCTION

The study on marketing mix elements has focused light on management decision regarding different marketing variables such as product decision, price decision, place decision and promotion decision. It is very interesting to study the marketing elements.

Definition:

“Marketing mix is the set of controllable variables that the firm can use to influence the buyers response”. – Philip Kotler

“ The marketing is composed of a large battery of devices which might be employed to induce consumers to buy a particular product”. – Keeley and Lazor.

The 'marketing mix' is a set of controllable, tactical marketing tools that work together to achieve company's objectives Four Ps Elements of the marketing mix are often referred to as 'the four Ps':

    • Product - A tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Intangible products are often service based like the tourism industry & the hotel industry or codes-based products like cellphone load and credits. Typical examples of a mass produced tangible object are the motor car and the disposable razor. A less obvious but ubiquitous mass produced service is a computer operating system.

• Price – The price is the amount a customer pays for the product. It is determined by a number of factors including 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.

    • Place – Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.

• Promotion – Promotion...