Topics
Principles of Management
- Concept of Management Principles
- Nature of Management Principles
- Significance of Management Principles
- Theories of Management
- Henry Fayol's Administrative Theory of Management
- Taylor's Scientific Management Theory
- Emerging Trends in Management
Functions of Management
- Functions of Management
- Planning
- Organising
- Staffing
- Directing
- Co-ordinating
- Controlling
- Comparative Study of Management Functions
Entrepreneurship Development
- Concept of Entrepreneur
- Entrepreneurship Development
- Process of Entrepreneurship Development
- Recent Initiatives in Entrepreneurship Development
- Start up India
- Stand-up India
- Agro Tourism (Rural Tourism)
- Women Entrepreneurship Platform (WEP)
- Concept of Intrapreneurs
- Employees' Contribution to Innovation
Business Services
- Concept of Service
- Business Services
- Types of Business Services
- Banking
- Banking > Functions of Commercial Bank
- Types of Insurance
- Insurance
- Transport
- Modes of Transport
- Types of Transport > Roadways
- Types of Transport > Railways
- Air Transport
- Communication
- Warehousing
- Types of Communication
- Postal Service
- Modern Means of Communication
- Comparative Study of Business Services
- Comparative Study of Business Services
Emerging Modes of Business
- Concept of E-business
- Online Transactions
- Buying and Selling Process
- Concept of Outsourcing
- Forms of Outsourcing
- Business Process Outsourcing (BPO)
- Knowledge Process Outsourcing (KPO)
- Legal Process Outsourcing (LPO)
- Comparative Study of E-Business
Social Responsibilities of Business
- Concept of Social Responsibility
- Responsibilities Towards Different Interest Groups
- Social Responsibility Towards Protection of Environment
- Business Ethics
- Corporate Social Responsibility
Consumer Protection
Marketing
- Concept of Marketing
- Concept of Market
- Types of Market
- Importance of Marketing
- Functions of Marketing
- Concept of Marketing Mix
Estimated time: 9 minutes
CBSE: Class 12
Meaning
Marketing mix is a combination of elements which are classified into four Ps: Product, Price, Place and Promotion.
CBSE: Class 12
Product
- Refers to goods, services, or anything of value that can be offered.
- Includes features, quality, packaging, labelling, and branding.
- Extended product covers after-sales service, spare parts, and complaint handling.
- Examples cited: Hindustan Lever, Tata, LG, and Amul.
CBSE: Class 12
Price
- The amount paid to obtain the product.
- Affected by demand for the product.
- Decisions involve pricing objectives, determinants of price, discounts, and credit terms.
CBSE: Class 12
Place
- Concerned with the physical distribution of the product.
- Involves selection and support of dealers/intermediaries.
- Decisions include inventory, storage warehousing, transportation, demonstration, negotiation, and after-sales service.
CBSE: Class 12
Promotion
- Involves communicating the features and merits of the product to persuade purchase.
- Tools include advertising, personal selling, and sales promotion (e.g., discounts, free samples).
- Decisions cover the message, media used, and handling objections.
CBSE: Class 12
Marketing Mix: Elements
| P | Sub-elements |
|---|---|
| Product | Product mix, new product design, branding, packaging, and labelling |
| Price | Pricing objectives, determinants of price, discounts, and credit |
| Place | Channel strategy, inventory, storage, warehousing, and transportation |
| Promotion | Promotion mix, advertising, personal selling, publicity, and public relations |
CBSE: Class 12
Key Points: Concept of Marketing Mix
- Marketing mix has four elements: Product, Price, Place. and Promotion.
- Product includes core offering plus extended features like after-sales service.
- Price is influenced by demand and involves discount/credit decisions.
- Place deals with physical distribution and dealer support.
- Promotion persuades buyers through advertising, personal selling, and sales promotion tools.
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