The marketing mix, also known as the four P's, refers to product, price, place, and promotion - the key elements of a company's marketing strategy. Each element is interrelated and should work together to achieve the desired marketing objectives. An effective marketing mix meets customer needs, balances the four elements consistently, and creates a competitive advantage through a strategic blend of these factors tailored to the specific product and target market.

1. Introduction to the Marketing Mix

2. Introduction
The marketing mix covers
the way a business uses
price, product, promotion
and distribution (place) to
market and sell its product

3. The Four P’s
The marketing mix is often referred to as the Four
P’s
Product Price
The product or service that the How much the customer pays
customer buys for the product
Place Promotion
How the product is distributed How the customer is found &
to the customer persuaded to buy

4. Why is it called a marketing MIX?
Because each element of the
marketing mix is related to
the others. Elements of the
mix should work together to
achieve the desired effect

5. Blending the Mix
• The marketing mix blends
together the elements of
a marketing strategy
• There must be internal
consistency within the
mix
• Mix must be consistent
with the product and its
target market

6. Example – launch of iPhone
Product Price
Three products in one – Depends on phone tariff &
phone, iPod & web browser model
3G broadband connection £350-£750 range
Innovative design Price falling
Place Promotion
O2 exclusive distribution Web & TV advertising
(locked) Retail distribution
Unlocked phones from online Widespread PR coverage
retailers Product placement

7. What is an Effective Mix?
• Achieves marketing objectives
• Meets customer needs
• Is balanced and consistent
• Creates a competitive advantage
• Matches corporate resources

8. Example of the blend
Product and price Cost must be taken into account when
setting price
Promotion and price Cost of promotion is taken into account
when setting price
Product life cycle Price set in relation to stage in the product
and price life cycle
Product and Promotional mix should be varied in
promotion relation to product
Product and place Nature of the product is a major factor in
distribution strategy

9. Businesses emphasis different parts
of the marketing mix
Emphasis on Examples
Discount supermarkets
Price Low-cost airline
Soap powders
Promotion Furniture retailers
Luxury motor vehicles
Product Tailor-made holidays
Convenience stores
Place Coffee shops

10. Introduction to the Marketing Mix