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The Marketing Mix
Business Studies

What is Marketing Mix?
• The marketing mix is the combination of factors that
influence a customers decision about whether or not to
buy a particular good or service
...


• Price – the amount the customer has to pay for the product, the payment
terms and conditions
...

• Promotion – the way in which the firms communicates about the product
e
...
promotion, mailshots, salesforce etc
...
A good marketing strategy should be drawn from
market research and focus on the right product mix in order to achieve the
maximum profit potential and sustain the business
...

The strategy determines what goods and services are to be offered and in
what markets
...


• If the strategy is to position the product at the upper end of the market this
will influence the price charged, where the product is distributed, how the
firm promotes the brand and the actual design of the product itself
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• E
...
in the introduction stage, there is likely to be a great emphasis on
promotion to launch the product, the promotion will tend to be informative
at this stage to let customers know that the product exists
...


Higher Lever – Extra P’s
• People – includes employees and suppliers, These communities are all

involved in the marketing relationship and can affect the overall offering of
the business
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• Process – these are the elements of the customer buying process (e
...
use of
barcodes, scanning equipment and self service tills) which can either make
purchasing aeasy or unappealing

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