Using the Marketing Mix
The marketing mix
The marketing mix is the combination of four elements a business uses to meet customer needs and achieve its marketing objectives: product, price, promotion and place. These are often called the four Ps.
The four Ps are planned together
The elements are interdependent, which means a decision taken about one changes the effect of the others. The mix therefore has to be planned as a whole rather than one element at a time. Think of a small firm selling refillable water bottles to walkers and climbers:
| Element | Choice made | How it affects the others |
|---|---|---|
| Product | Tough steel bottle with a lifetime guarantee | Lets the business charge more and talk about durability in promotion |
| Price | £30 | Makes money-off advertising a poor fit and needs outlets that look premium |
| Place | Outdoor equipment shops and the firm's own website | Promotion can point customers to these places, not to supermarkets |
| Promotion | Reviews from climbing bloggers | Reaches the target customer and supports the high price |
Change one decision and the others have to move with it. Cutting the price to £8 would mean promoting value for money and selling through discount stores, and the lifetime guarantee would no longer make sense.
Why a mix must fit together
Where one element contradicts another, customers receive a mixed message and are unsure who the product is for, so the business gets less value from the money it spends on marketing. A bottle advertised as premium outdoor kit but stacked in a bargain shop looks cheap, and few customers would then pay £30 for it. Good use of the mix means every element gives the customer the same message about what the product is and who it is for.
The mix is also not just promotion. Advertising cannot rescue a product that is priced wrongly or sold through the wrong outlet, because customers judge the whole offer at once.