Marketing Mix• Marketing mix is a business tool used

in marketing and by marketing professionals.

Product• A product is seen as an item that satisfies what a

consumer needs or wants. – tangible good or an intangible service.

• Product includes all things about the particular item such as:

– Packaging

– Varieties

– Branding

– Image

– Quality standards

Price• The price is the amount a customer pays

for the product. – price is very important as it determines the

company's profit and hence, survival.

– Consider start-up cost

– Mark-up

– Competition

Promotion• Represents all of the methods of

communication that a marketer may use to provide information to different parties about the product .

• Promotion comprises elements such as

–Advertising/slogans

–Public relations

– Sales promotion

–Personal selling

Place• Refers to providing the product at a location

that is convenient for consumers to access.

• Includes considerations of where the product is made and how it is transported to stores.

TARGET

MARKET

PRODUCT/SERVICE

PRICE

PLACE

PROMOTION

A product can be tangible or intangible (a service

provided) and is the item being sold to the customer.

Where the product/service is made, stored and transported to the customer.

The amount of money a

customer is willing to pay for a product.

Promoting a product/service to make potential customers

aware of it: advertising, public relations, media, personal

selling and other strategies.

Specific group of potential customers

Activity #1Identify the Marketing Mix Elements:Product, Price, Place or Promotion

Complete the worksheet 4P’s

found in Black Board and submit into drop box

when finished.

Activity #2The 4 P’s of Marketing Activity

Think of one of your favorite products.

1. Create 1 slide in Power Point and identify the following:

a) Include a picture and name of your product

b) Price range (consumer cost and product options)

c) Placement (where is this product found)

d) Promotion (list all the ways it is advertised to consumers, show examples)

2. Submit in drop box “4P’s My Product” when complete