The Marketing Mix
This is the combination of activities under a company's control that can be manipulated to achieve marketing objectives.
Marketing is the ability of an organisation to provide the right product, at the right price, via the right outlets (place) and presented in the right way (promotion). This is also known as the 4Ps. However, in addition to product, price, place and promotion, services marketing calls for three additional Ps - people, processes and physical evidence.
These elements are interdependent - altering one part of the mix will often result in you having to alter another to keep the balance right.
You are balancing:
- The product design and quality which the customer is most likely to accept
- The price the customer will be willing to pay
- The best distribution method
- The message and media the customer will find most acceptable
Further information on this topic is contained within the plan.