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Marketing Mix
Posted By: shailesh_escape4 on 10/27/2005 1:46 AM (CST) 50 Points
what do you mean by marketing mix

Posted by: Carl Crawford Accepted Answer
10/27/2005 3:33 AM (CST)
The marketing mix consists of the 4p's

Price
Place
Product
Promation

Try reading a first year text book, and googling the 4p's you will be amased at what you can learn.
 
Posted by: patrickardahalian Accepted Answer
10/27/2005 6:35 AM (CST)
What Firefox said was partially right. Your question might have been, why do we need the 4 P's?
Or, how do we execute the 4Ps effectively, and I don’t mean killing anybody…
The 4 P's is a marketing jargon for the

1) Product (what are you selling?) Goods include: chewing gum, homes, or guns. Or, services include: cleaning homes or airplane tickets for a sassy vacation.

2) Price (what will you charge your customers?) This is the hardest and most complicated of the 4 P's. Explaining this any further goes beyond your question and scope of knowledge.

3)Place (where will your product be sold?). At Supermarkets, shops, pharmacies, hospitals, trade shows, the stock exchange?

4)Promotion, or distribution or Advertising (How will people be able to find your products, how will they know about it, what message do you want to convey regarding your product) E.g. my underwater basket-weaving machine is the best in the world. You can find them in any supermarket store near your neighborhood.

Why do we need the 4 P's? Well the answer is simple, we don’t anymore. Nowadays with the advent of the Internet, and direct marketing, the concept of the 4P's (which are not really 4 P's, they're 3 P's and a D) belong in a museum, although the principle still exists.

Other marketing mixes such as MLA (multi-layered marketing) direct marketing, which is selling direct from the factory to the end user (fancy term for shopper) is the wave of the future.

The term marketing mix referes to how you combine the Product, Price, Place and Promotion compared to your competitiors and hopefully succeed in making a million bucks.
E.g. if you "ONLY" sell your product on the surface of the moon, you will not have many customers, except the odd astronaut here and there, (throw in a couple of aliens). On the other hand, how does one advertise to an alien? Do you get the picture?

Google should have lots of info, and any self respecting marketing book should too. Hope this helps :-)

Patrick A.
 
Posted by: carrie77 Moderator Response
11/5/2005 5:05 AM (CST)
Hello all. I am closing this question since there has been no activity in over a week. We do this to reward the contributions of participants in a timely manner + to give increased visibility to the newer questions.

Thanks for participating!
Carrie (Production Editor)
 


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