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Elements of the marketing mix (product, place, price)

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Describe the elements of the marketing mix (product, place, price, and promotion)

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The marketing mix approach to marketing is one model of creating and implementing marketing strategies. It stresses the "mixing" of various decision factors in such a way that both organizational and consumer objectives are attained. The most common variables used in constructing a marketing mix are price, promotion, product and distribution (also called placement).
Product: Defines the characteristics of your product or service that meets the needs of your customers.
Price: Decide on a pricing strategy - do not let it just happen! It means deciding the price which consumer has to pay including discount strructure.
Promotion: This includes all the weapons in the marketing armoury - advertising, selling, sales promotions, Public Relations, etc.
Place (or route of distribution): Some of the revolutions in marketing have come about by changing this P. Think of telephone insurance and the ...

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This discusses the elements of the marketing mix (product, place, price, and promotion)

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