Marketing Mix
Overview
The four Ps classification for developing an effective marketing strategy was first introduced in 1960 by marketing professor and author E. Jerome McCarthy. Depending on the industry and the target of the marketing plan, marketing managers may take various approaches to each of the four Ps. Each element can be examined independently, but in practice, they often are often dependent on one another.
Marketing Mix
The marketing mix definition is simple. It is about putting the right product or a combination thereof in the place, at the right time, and at the right price.
The four Ps classification for developing an effective marketing strategy was first introduced in 1960 by marketing professor and author E. Jerome McCarthy. Depending on the industry and the target of the marketing plan, marketing managers may take various approaches to each of the four Ps. Each element can be examined independently, but in practice, they often are often dependent on one another.
Product
This represents an item or service designed to satisfy customer needs and wants. To effectively market a product or service, it's important to identify what differentiates it from competing products or services. It's also important to determine if other products or services can be marketed in conjunction with it.
Price
The sale price of the product reflects what consumers are willing to pay for it. Marketing professionals need to consider costs related to research and development, manufacturing, marketing, and distribution—otherwise known as cost-based pricing. Pricing based primarily on consumers' perceived quality or value is known as value-based pricing.
Placement
The type of product sold is important to consider when determining areas of distribution. Basic consumer products, such as paper goods, often are readily available in many stores. Premium consumer products, however, typically are available only in select stores. Another consideration is whether to place a product in a physical store, online, or both.
Promotion
Joint marketing campaigns also are called a promotional mix. Activities might include advertising, sales promotion, personal selling, and public relations. A key consideration should be for the budget assigned to the marketing mix. Marketing professionals carefully construct a message that often incorporates details from the other three Ps when trying to reach their target audience. Determination of the best mediums to communicate the message and decisions about the frequency of the communication also are important.
osdlfm(-1,'','BHFwFcketXu6LEtXOogPP5KKACADHypS91gsAABABOAHIAQnIA5sE4AQDoAZM0ggFCIBhEAHCEwYY_KzHzAI','',2262618951,true,'la\x3d0\x26xdi\x3d0\x26',3,'CAASEuRoaMGML8NKi_djreq_-rzfRg','https://pagead2.googlesyndication.com/pcs/activeview?xai\x3dAKAOjsvPCp2xZIvp_IK8jwD8k1heyDJ-RVOiN4gwBag9FlKybsfAt9BQq6zu3lobGwMnkb2f8ufnStzkF-6gnOaq_6ItHraUUfK7LXJQm4kUXzCDx7ECAxyb45ykVt8\x26sai\x3dAMfl-YTYLk-6u9jPfIuSF8u4FpEVNo3HxAnl7qc4oyEZyLZiUGQbjVrKj6r0JOTgf9tRcSW5ihP-LEvRD2gGfjUQYJW8lSfMBsknrQcmOXHzh7rjUx9eEf5pcD81PI3g\x26sig\x3dCg0ArKJSzDpTDT1Yx5ajEAE\x26cid\x3dCAASEuRoaMGML8NKi_djreq_-rzfRg','');googqscp.init([[[[null,500,99,2,9,null,null,null,1]]]]);
(function(){/* Copyright The Closure Library Authors. SPDX-License-Identifier: Apache-2.0 */ 'use strict';var l=this||self;function m(a,c){Array.prototype.forEach.call(a,c,void 0)}function n(a,c){return Array.prototype.map.call(a,c,void 0)}function p(a,c){return Array.prototype.reduce.call(a,c,-1)}function q(a){for(var c=[],d=0;da&&75==a.getAttribute("data-jc")?a:document.querySelector('[data-jc="75"]');function u(a,c){if(a)for(const d in a)Object.prototype.hasOwnProperty.call(a,d)&&c.call(void 0,a[d],d,a)}var v=/https?:\/\/[^\/]+/;function w(a){return(a=v.exec(a))&&a[0]||""};const y=/^https?:\/\/(\w|-)+\.cdn\.ampproject\.(net|org)(\?|\/|$)/; function z(){var a=l;const c=[];let d=null,f,b;do{b=a;try{var e;if(e=!!b&&null!=b.location.href)b:{try{r(b.foo);e=!0;break b}catch(k){}e=!1}var h=e}catch(k){h=!1}if(h){var g=b.location.href;d=b.document&&b.document.referrer||null;f=!0}else g=d,d=null,f=!1;c.push(new A(g||"",b,f));try{a=b.parent}catch(k){a=null}}while(a&&b!=a);for(let k=0,x=c.length-1;k<=x;++k)c[k].depth=x-k;b=l;if(b.location&&b.location.ancestorOrigins&&b.location.ancestorOrigins.length==c.length-1)for(a=1;ab?encodeURIComponent(D(a,c,d,f,b+1)):"...";return encodeURIComponent(String(a))};class F{constructor(a,c){this.a=a;this.depth=c}}var H=()=>{var a=z();const c=Math.max(a.length-1,0);var d=B(a);a=d.c;var f=d.f;const b=d.a,e=[];d=(g,k)=>null==g?k:g;b&&e.push(new F([b.url,b.b?2:0],d(b.depth,1)));f&&f!=b&&e.push(new F([f.url,2],0));a.url&&a!=b&&e.push(new F([a.url,0],d(a.depth,c)));const h=n(e,(g,k)=>e.slice(0,e.length-k));!a.url||(b||f)&&a!=b||(f=w(a.url))&&h.push([new F([f,1],d(a.depth,c))]);h.push([]);return n(h,g=>G(c,g))}; function G(a,c){const d=p(c,(b,e)=>Math.max(b,e.depth)),f=q(d+2);f[0]=a;m(c,b=>f[b.depth+1]=b.a);return f}var I=()=>{const a=H();return n(a,c=>E(c))};function J(a){try{const c=I();c.pop();const d=2083-a.length-5;for(let f=0;f{if(!(.01var url = 'https://googleads.g.doubleclick.net/dbm/ad?dbm_c=AKAmf-CtO_bgaAM6nqXFU7flPsX91A0rYVH8fcS3fr_h3Ov7iysYVM7lYph82p4B7f4YtUbzmQ4bnhOdXE_QpULrRYti1_WrgA&dbm_d=AKAmf-DVnwMoeaM4BpCcz2v5PfBdvX5nGF-DQV56Q_xUQMqZMi0fSbD9KSxydKEryCLM_QygapV_mZ64vk1ID8JASbzp5ZrtiNMSXu23U0ZMW5epOtFx1DWyOW0CJ7glP-ZTjIAJ_s2A1rMXVte-BM7nWH1T8Wt2miAn9nrhqFi-35hXNlbIoM4p-Yjdvb-j5jxpNIMqeDo2oiL4DMlfTsbomZqsX5q6GX1e8yamTg3AvZtRJF9VIqbgq_vgoD3HEkh1XBIG1blhJqUhqQcBx9d5hj26-bG_BWL4T0-yEX62kDwWQLdKL1ePYAeBnxCPNdt01iwM1i2yWuSsmnfo-57TGPBm_munbFRo35SKNTY5lQMff1Tnw0EHmAT2iCglW_Xj2YBgf4vH13Z8JG58a9RFSK2hPXxHR3AecJOUjostQ0lpycg5gq9JtQooZWZ5qBmM6YRp036x4Vipx3Dtw-jo3-O8AsQMIb4teFW_-aggTMixT8mCxfY2PALmvOGMBtjgOmddHaNEyJB96gYuj1pwnUC4qZ94KYbQJH2n8pBLGVtvAsyp7gtb3Q_RtHnrnUxE4o3PjBlVJsjvbd1n5oDuapfOGi_96CwFuy7bJPVgrQ_YUthl4uE64UoANwGCeMDHCckqMv2WuvKwTdExWoUF64lyGQLdMJHvTZWlH9IBMqnK-obpGoq0-u4tPcCbz2YZ2xEeazXeI0Kq2CyYJv0KSvo1Z8l0EnRZb8IZtjsDrRvFdkDHHiQHCTL9jFHnCGobF6IPeqczaexcto__iM5y6LeCU-xGlIKbLsqOfcNu0pZOlVZFUzAcRQOkdT-QzxPnksjHE0HXLOc4tBs4Of2qNqI8FJvHzPs7NQX6xzFKPGbMqHUsB2kZS3cG6H3l7LCJczQJlKZ_Gue0Zr5OAsEFOCA82FWLR4mhO3B-Qu95XLHNo8eJ-zvWhTcO6TDjx13PicT02puMR0_DQdJMRTk16S4gH2bRi3-lKkcGAOm0S_dRGG-pBNZD9h2F8e7f5gfhxbAcPMDq_g6fEJQQh-5-drLc9CTAthgGV7pbnfC90e5qQLIz0XRunji8-VwkesjeuKpR1SLhok9z-wgSktgt4Kx05WqTYrB81P3QQ_4Nj9H6Xv13xCChXNj7t2ONyWtnGQl8EQn6W1kFBgMUuBtfGVUitfrX12K6Alds9DodGNXm4A219bCZ6cNJAPWec5Ahx1_yUBvoCDHwMWJYBR79D75pB3NBILuj6rmGmhDSicFfdumWrs-DaxU70zNTmAIlpnkBxuELzdxBOJjnMVI7O1Aq0-q1Nvc-w9fRCdmlS4CI4LCH6PzeCnnzQFSy6pJSb8FPVnrzhOf14Pftak5r9bkKSIibE2mbR1u7GMbGjxp5SLJcIV5Hgk-SEE_iRq1x3sxlveeq5qaj6RLSqBb9NbfdindoahOyW2MAYNDorgudiLq7k7xR97IrdsudepNGie4k5HVuCsIPbtW-Gioc7CWvY5AO4qTeDEVdNbQeRRnSyCK0Pz0L7zhEBzRlbjg7kwb6Szw6_-h6MU88W7SWBC6gIv4saNo6EXzFx7qgS6-pJkXL7WLJdknM18DLdDxrTYmDFKYZaa8OrhE7oYicgUXJP1CFst6P-6ofG8t0bMR5V6Qh7TwjK0HxqYMse-HmGZqqb8XUC4gFmJIdlZrN5RD8GOfW_dlAPUaDZ1r-KZtPujZundZyNGQdrBNiPQCKk-GhJiFkn8FqMvX8GcUdF8T0fHbE_O_yXlRKGdVgPzOdCfr62e6dl0XV6o-5TsHDqdlaDImCVeHUs2oxyYoodhoo7CTHHwh-hK1iQJpd3WnvY7TKZ0JTpYlmQDO6FclWlHQsCnzYU2Nbo1woOiPDIQ7ypNeXbhekrA1MkGLY0ZxNNXPra2lmyMH09NM83uw9vau7AifLyBdiDHLtMpWfUdyU4tnMrE4-ey3KSb0tVWVOmjDfbUdN8gJvfhBT3NPWAaxeVOA_aaBBtb6V9L5wCjQDxRNopyjGX6U68-kdIlwMu7pEhMf-XlpKA6lqH21zXGZtpiz56SDnOYaY0cTQDJVL3UYnx-TelV9BR91W8rXBbcBbkVYzrqGsXXXhX6iY__aNAxG8hJUa0qR3arJyvZtzkE13hRFAftiZT8Uz90TRx6Lhg9Ymx2z2Lw4UuRDjgpoEHnU-4V2YWA9Zrm0ta9JdASQ1WLScd_sz6wegBxQ7xdO6RvQurPNdD1V236tQ3NnU6dgeo-gdyDKfTc-hLHrbkuWtOCjTPgI4PncHT17D_27ySkAwcNiYhkyBH_eFszWL-V2LA3zjMlSJGDHas9J-o6NudxWIkqrh1qFp_ZMlOveetrDBfm4v9H48ianKbAOAlKdOZo-E9k2C9DnfBfXnMU1aNoTTP420YfkuU3-P0E6M7Y-sdz3YLFxoeGkzCIeB0jX1Blj87ZRRi_SZUCiqi_xhkraXEiqHP45nATqynvyMQHMFq4jxXyFw3xIrZ7XsEUc272UCdfddyAhkpmoKvEVnHzCb3wnWFiEdVodHH1SFEGtm2nuyXZBBcxRXFFRfCE97K6Lfwstbe4EZau5Pg7JgE6rwyZIlJsR2gZslboe8RmGqgSgyUq-lYRxZ9LlG0OBm1_AITnCy1WMVH_h1L-eb5um6zk2WHqbwe630gwdQVhP1MPuOFx1vr7NRb3x6D9I8K85ETUwtliN0kC_iwuaMErkntda9zUktVSrDyMK7_v1k-Y31CBwGLXQJLwBn2pFU&cid=CAASEuRoaMGML8NKi_djreq_-rzfRg';document.write('');