Neil H. Borden has listed the following elements of the marketing mix. This list can at best serve as a model and the marketing manager can rely upon it or can modify it as per his unique needs.
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Elements
1. Product Planning:
(i) Products lines to be offered their qualities, design, etc.
ADVERTISEMENTS:
(ii) Market to sell – whom, were, and in what quantities.
(iii) New product policy – R&D Programme.
2. Pricing:
(i) Price level to be adopted.
(ii) Specific prices to be adopted – odd, even, etc.
ADVERTISEMENTS:
(iii) Price policy – one price or varying prices; price maintenance; use of list prices, etc.
(iv) Margins to be adopted for company, for trade.
3. Branding:
(i) Selection of trade marks
(ii) Brand Policy – individualised or family brands
ADVERTISEMENTS:
(iii) Margins to be adopted for company, for trade
4. Distribution:
(i) Type of channel to be used between plant and consumer.
(ii) Degree of selectivity among wholesalers and retailers.
(iii) Efforts to gain cooperation of the trade.
5. Personal Selling:
Burden to be placed on personal selling and the methods to be employed in:
(i) The manufacturer’s organisation.
(ii) Wholesale segment of the trade.
(iii) Retailers level.
6. Advertising:
(i) Amount to be spent.
(ii) Copy platform to adopt – product, corporate or both.
(iii) Advertising mix to the trade; through the trade; to the consumers.
7. Promotion:
(i) Burden to place on special selling plans or devices directed at or through the trade.
(ii) Form of these devices for consumer promotions, for trade; promotions.
8. Packaging:
Formulation of package and label policy.
9. Display:
(i) Burden to be put on display to help effect sale.
(ii) Methods to adopt to secure display.
10. Servicing:
Determining the type of quantum of service needed.
11. Physical Handling:
Warehousing, transportation and inventories.
12. Fact Finding and Analysis:
Secure, analyse and use the facts in marketing operations.
Apart from the internal elements given above, there are certain forces a marketer has to reckon with. It is therefore necessary that such forces are also enumerated and reflected in the marketing mix.