The marketing mix elements for a good/service
Marketing mix and the 4Ps
The marketing mix is the set of decisions a business makes about four marketing elements: product, price, place and promotion. These four elements are commonly called the 4Ps of the marketing mix, and they are the elements to name whenever you are asked about the mix.
| Element | Decision it covers |
|---|---|
| Product | What the good or service is and what makes it appealing to customers. |
| Price | The amount charged for the good or service. |
| Place | Where and how customers can buy the good or service. |
| Promotion | How customers are told about the good or service and persuaded to buy. |
The mix is connected
The 4Ps are not four separate topics. They form a set of connected decisions, because a business works on all four together: changing one element affects the others and the overall plan.
For example, a student-run business sells desk tidies made from recycled wood. If the product is redesigned as a flat-pack kit that customers assemble, the price may need to rise to cover the extra packaging, the place may move to online sales with delivery, and promotion may focus on short build videos. Each decision follows from the product change, so the 4Ps work as one mix.
Practise this
Cambridge National Enterprise & Marketing · 4.1 The marketing mix elements for a good/service
Cambridge National Enterprise & Marketing · 4.2 Marketing mix elements working together