This is my slide-show presentation on the term "marketing mix" that was introduced in chapter 1.

1. The Marketing Mix
By: Abigail Smith

2. What is the marketing mix or 4 p’s?
The marketing mix is consisted of 4 p’s- product, price, place, and promotion.
These elements of marketing create value for firms. It helps to define your
marketing options in terms of price, product, promotion, and place so that your
good and/or service can meet specific consumer wants and demands.

3. 1st P- Product
Product is necessary for creating value. To fully meet the proper criteria of this
element of the marketing mix, you need to ask yourself questions like; “What does
the customer want from the product and what needs does it satisfy?” “What
features does it need to meet these needs?” and “What is necessary for the
product to reach satisfaction?”

4. 2nd P- Place
Place is used for delivering value. Place is what allows the product to be
consumed, to earn profit. Place is extremely crucial in reaching a large-scale of
consumers to purchase the product. Before choosing the place for your product,
ask yourself questions like; “Where do buyers look for your product?” “Where can I
reach the most consumers and draw the most attention?” “How can I access the
right distribution channels?” and, “What kind of trade is will be most popular for
this product? Online, trade fairs, catalogs, etc.”

5. 3rd P- Price
Price is used for capturing value. The price you set for your product or service
needs to appropriately reflect the cost of labor, manufacturing, and quality of the
product. When deciding on a price, ask questions like, “What is the value of the
product or service to the buyer?” and “How will your price compare with
competitors?”. In order for buyers to purchase your product, they need to feel a
sense of value and satisfaction of their demands or needs.

6. 4th P- Promotion
Promotion is used to communicate value. Promotion is what drives the buyer to
making the purchase, explaining the value of the product/service. Promotion is all
about figuring out when are where you can get your marketing messages across
to your target market. In promotion, you need to decide HOw to promote your
product or service; online, in the press, Tv, radio, social media, internet, billboards,
etc. How will you promote your product or service to receive maximum profit?

7. Marketing Mix Visuals

8. How to Utilize the Marketing Mix or 4 P’s
This model can be used by marketers to help decide on how to offer to your target
market. This model can also be used to evaluate and change your existing
marketing strategy. The four elements really help you analyze what is working and
what is not.

9. Conclusion
Once you believe you understand and have developed a well defined marketing
mix, test it with the elements.
1. Does it meet their needs? (product)
2. Will they find it where they shop? (place)
3. Will they consider that it’s priced favorably? (price)
4. And will the marketing communications meet them? (promotion)

10. Key Points
This model can be used when you’re planning a new venture, or evaluating an
existing one to optimize impact with your target market.
The marketing mix is one of the best known models in marketing, that helps define
your options in terms of product, place, price and promotion.
After using this model,you can successfully position your market offer.

11. Extra Tips
Try asking “why” and “what if” questions to challenge your offer on the market.
Check through your answers to make sure they sound knowledgeable and factual.
If you have any doubts, identify any market research or facts and figures to gather.