The four elements of the marketing mix

Marketing Mix - Meaning and its Elements Marketing Mix - Meaning and its Elements Neil Borden in the year introduced the term Marketing mix, an extension of the work done by one of his associates James Culliton in Marketing Mix - A mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix.

The four elements of the marketing mix

Adjustments are usually made to each of these four elements until a perfect blend that adequately caters to the needs of the customers and at the same time generates optimum revenue is obtained.

The four elements of the marketing mix

Product This is what you are offering to the market. It is a very important part of the marketing mix as it is what you will use to attract the customers.

The four elements of the marketing mix

When developing a product, it is imperative that you come up with a product that solves a certain problem for your target market. It is commonly said that a business opportunity exists where there is a gap to be filed in the needs of a market.

For your product to be profitable, it has to be filling a certain gap in the needs of your target market. Do not simply develop a product; develop a product that people will want to buy to meet a certain need. Price There are quite a number of factors that go into determining the price of a product including the operation costs and distribution costs incurred while availing the product to the market.

One very important factor that you should never forget though is your target market. Ensure that the price you set for your product is one that will be within the means of your target market.

What is a Product?

Failure to do this will result in your not making enough sales or none at all. Place Place is a very important factor in the marketing mix. Marketing is all about getting customers for your product. It is thus imperative that you reach out to these customers.

To do so, you have to get to where they are. Marketing has to take place where your target market is. Promotion Promoting the product is all about selling your idea to the customer; showing your customer how the product will be of benefit to them and that it will be good value for their money.

Use 'marketing mix' in a Sentence

This should come out clearly when you are promoting the product.Marketing Mix - Meaning and its Elements Neil Borden in the year introduced the term Marketing mix, an extension of the work done by one of his associates James Culliton in Marketing Mix - A mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix.

Your marketing mix is the combination of elements that play a role in promoting and delivering your products and services to consumers or clients.

In essence, it's about putting your product or service in the right place at the right time for the right price. Four key elements of Marketing September 2, By Hitesh Bhasin Tagged With: Marketing strategy articles Marketing encompasses a number of different activities such as product design, pricing, strategies, advertising and others.

Marketing Mix - Meaning and its Elements Neil Borden in the year introduced the term Marketing mix, an extension of the work done by one of his associates James Culliton in Marketing Mix - A mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing .

In this article, we will look at 1) the four P’s, 2) history of the marketing mix concept and terminology, 3) purpose of the marketing mix, 4) key features of the marketing mix, 5) developing a marketing mix, 6) key challenges, and 7) marketing mix example – Nivea. The key elements of any successful marketing plan include the concepts of product, price, place and promotion, also known as the four Ps of marketing.

The marketing mix of the four Ps functions as.

Marketing Mix | Product in Four P's