Marketing mix refers to two things:
(i) A list of important elements or ingredients that make up the marketing programme and
(ii) The list of forces having bearing on marketing operations.
Elements of marketing of mix :
(i) Product : Product is the main element of marketing. Without a product, there can be no marketing.
(ii) Price: Price is the value of a product expressed in monetary terms. It is the amount charged for the product.

Factors affecting price of the product/service.
(a) Internal Factors:
(i) Marketing objectives
(ii) Marketing Mix strategy
(iii) Organisational considerations
(iv) Costs
(v) Organisation objectives
(b) External Factors:
(vi) The market and demand
(vii) Competition
(viii) Customers
(ix) Suppliers
(x) Legal factors
(xi) Regulatory factors

Marketing Concepts:
(i) What I can sell?
    Make what you can sell, but do not try to sell what you can make.
(ii) Shall I first create Products?
     No, first create a customer, Then Create Products.
(iii) Shall I love my Products?
      No, love your customers and not the Products.
(iv) Who is Supreme in Markets?
      Customer is Supreme or King.
(v) Who will shape my Decisions?
      Customer's preferences shape your decisions.

The following are the objectives of marketing :
(i) Intelligent and capable application of modern marketing policies.
(ii) To develop the marketing field.
(iii) To develop guiding policies and their implementation for a good result.
(iv) To suggest solutions by studying the problems relating to marketing.
(v) To find sources for further information concerning the market problems.
(vi) To revive existing marketing function, if shortcomings are found.

Market gives us the information which is helpful in invention of new product in the market.
(i) The main aim is to satisfy the buyer, the latter becomes the starting point of all marketing activities
(ii) The product must be designed to suit the needs of the buyer.
(iii) The buyer must be convinced with the price.
(iv) Even a small things must be designed in such a way that the buyer finds its attractive
(v) It gives us the information that what the present generation is in need.
(vi) It could be identified with a good marketing research.
(vii) what the competing product we have at what price?
(viii) What could be substitute products for it?
(ix) What is the exactly requirement of the consumer.
(x) This things can be understood from the behaviors of consumers in market.

(i) Warehouses create time utility by storing the goods throughout the year and releasing them as and when they are needed.
(ii) Several types of warehouses are used for storage of goods, which are as follows.
(iii) (1) Private warehouses,
(2) Public warehouses and
(3) Bonded warehouses.
(iv) Depending on your requirements of space and goods you can get your warehouses.
(v) Warehouses helps in storing of goods in a proper place for the time between production and consumption.

(i) Marketing is the performance of buying activities that facilitate to more flow of goods and services from producer to ultimate user.
(ii) Selling is basically concerned with putting the goods into the hands of the buyers for a price, but marketing is much wider than selling.
(iii) The development of marketing is evolutionary rather than revolutionary.

They are discussed below :
(i) Product : Product is the main element of marketing. Without a product, there can be no marketing.
(ii) Price : Price is the value of a product expressed in monetary terms. It is the amount charged for the product.
(iii) Place : The third element of product mix, namely place or physical distribution facilitates the movement of products from the place of manufacture to the place of consumption at the right time.
(iv) Promotion : An excellent product with competitive price cannot achieve a desired success and acceptance in market, unless and until its special features and benefits are conveyed effectively to the potential consumers.

(a) To the Society:
(i) Marketing is a connecting link between the consumer and the producer.
(ii) Marketing helps in increasing the living standard of people.
(ii) Marketing helps to increase the nation's income.
(iv) Marketing process increases employment opportunities.
(v) Marketing creates modern cultivators.
(vi) Marketing removes the imbalances of supply by transferring the surplus to deficit areas, through better transport facilities.
(vii) Marketing helps to maintain economic stability and rapid development in underdeveloped or developing countries.
(viii) Marketing includes all activities in the creation of utilities- form, place, time and possession.
(ix) A reduction in the cost of marketing is a direct benefit to society.
(x) Marketing adds value of goods by changing their ownership and by changing their time and place of consumption.
(b) To the individual firms:
(i) Marketing generates revenue to firms.
(iii) Marketing section of a firm is the source of information to the top management for taking overall decisions on production.
(iii) Marketing and innovations are the two basic functions of all businesses, the world is dynamic.
(iv) Marketing facilities the development of business and creates employment opportunities for people.

(i) Barter System : The goods are exchanged against goods, without any other   medium of exchange, like money.
(ii) Production Orientation : This was a stage where producers, instead of       being concerned with the consumer preferences, concentrated on the mass production of goods for the purpose of profit.
(iii) Sales Orientation : The stage witnessed major changes in all the spheres of economic life. The selling became the dominant factor, without any efforts for the satisfaction of the consumer needs.
(iv) Marketing Orientation : Customer's importance was realised but only as a means of disposing of goods produced. Competition became more stiff.
(v) Consumer Orientation : Under this stage only such products are brought forward to the markets which are capable of satisfying the tastes, preferences and expectations of the consumers-consumer satisfaction.
(vi) Management Orientation: The marketing function assumes a managerial role to co-ordinate all interactions of business activities with the objective of planning, promoting and distributing and services to the present and potential customers.