4 P’s Marketing Mix Product Price Promotion Place

Product: Includes variables like product design and product range Product: Includes variables like product design and product range. The aim is to offer products that meet the needs of customers.   Price: Customers want value for money. If prices are too high they will not buy. The same may be true if prices are too low as customers may the quality of the products. Customers seek value for money but the business also needs to make a profit. Place – Attention is given to how customers buy your products and where buy them. This also includes how they will get the products. For example, do they collect them or do you arrange for them to be delivered? Promotion – This is the way in which a business tells customers about its products and services. The 4 P’s are the classic marketing mix. However, in recent times service has taken a more prominent role in marketing. This is because of the growth in service industries but also because the supply of products is always accompanied by a service element.’