Marketing Mix

• Set of tactical and controllable marketing instruments (the 4ps) that the company combines to generate the desired response in the target market

• It is a model that includes and relates to the four basic elements of a company's activity

  • Product

  • Price

  • Promotions

  • Place (Distribution)

• The marketing mix is composed of everything the company can do to influence the demand for its product. It constitutes the practical toolbox of the company to achieve a strong positioning in its target markets

Product:

• the combination of goods and services offered by the company

Price:

• what customers will have to pay to obtain the product

Promotion:

• activities carried out to communicate the advantages of the product and try to entice the customer to stimulate purchase

Distribution:

• activities carried out by the company to make the product available to its customers

The marketing mix is composed of everything the company can do to influence the demand for its product. It constitutes the practical toolbox of the company to achieve a strong positioning in its target markets.

Product

• variety, quality, design, features, brand

Price

• list price, discounts, payment period, credit conditions

Promotion

• advertising, personal selling, sales promotion, public relations

Place

• channels, coverage, locations, inventory, transportation, logistics

The concept of the four ps refers to the market's view from the seller's perspective, not from the buyer's perspective.

Here is the Buyers point of view:

Product

• customer satisfied

Price

• customer cost

Place

•  convenience (bequemlichkeit)

Promotion

•  communication

Marketing Executives View:

• Marketing professionals believe they are selling products.

Customers View

• Customers believe they are buying value or solutions to their problems.

Key Customers Considerations

• Price is not the only factor

• Customers focus on the total cost, including:

  • Obtaining (Beschaffung) the product

  • Using the product

  • Disposing (entsorgung) of the product

Customer want to acquire the product or service as easily and conveniently as possible

Customers value two-way communication with the company.