MARKETING MIX. What is Marketing Mix? The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet.

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Presentation transcript:

MARKETING MIX

What is Marketing Mix? The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps. The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps. Getting the mix of these elements right enables the organisation to meet its marketing objectives and to satisfy the requirements of customers. Getting the mix of these elements right enables the organisation to meet its marketing objectives and to satisfy the requirements of customers.

The Marketing Mix

Price and Place Price – How you price your product or service so that your price remains competitive but allows you to make a good profit. Price – How you price your product or service so that your price remains competitive but allows you to make a good profit. Place (Also referred to as Distribution) – Where your business sells its products or services and how it gets those products or services to your customers. Place (Also referred to as Distribution) – Where your business sells its products or services and how it gets those products or services to your customers.

Product and Promotion Product – The products or services offered to your customer: Their physical attributes, what they do, how they differ from your competitors and what benefits they provide. Product – The products or services offered to your customer: Their physical attributes, what they do, how they differ from your competitors and what benefits they provide. Promotion – The methods used to communicate the features and benefits of your products or services to your target customers. Promotion – The methods used to communicate the features and benefits of your products or services to your target customers.