Let me tell you about the marketing mix. Tony Whittingham Teacher – Randwick College.

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Presentation transcript:

Let me tell you about the marketing mix. Tony Whittingham Teacher – Randwick College

Marketing Mix The marketing mix is probably the most famous phrase in marketing. The elements are the marketing 'tactics'. Also known as the 'four Ps', the marketing mix elements are price, place, product, and promotion.

Product It says that the Product area is concerned with developing the right “product” for the target market.

Place Place is concerned with all the decisions involved in getting the “right” product to the target market’s place. A channel of distribution is any series of firms (or technologies) from producer to final user or consumer.

Promotion. Promotion is concerned with telling the target market about the “right” product. Promotion includes personal selling, mass selling, and sales and promotion.

Price In setting a price, you must consider the kind of competition in the target market – and the cost of the whole market mix.