Marketing Mix Basics
A brilliant product that nobody hears about still fails. Meet the marketing mix: product, price, promotion and place, and how the four Ps must work together for a business to succeed.
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The perfect mix 🛒
A brilliant product that nobody hears about will still fail. Getting a business right means blending four things - the **marketing mix**, or the **four Ps**. This module is about Product, Price, Promotion and Place, and how they work together.
The four Ps 🔑
The marketing mix is built from four ideas:
What is the mix? 🎯
What is the marketing mix?
- The four Ps: product, price, promotion and place
- The total profit a business makes
- The number of staff a business employs
- The tax a business pays each year
Budget or premium? ⚖️
The four Ps must fit each other. Compare two very different mixes.
Which P? 🔗
- Product
- Price
- Promotion
- Place
- The design, features and quality of what is sold
- How much the customer is charged
- Adverts, offers and social media that spread the word
- The shops or websites where it reaches customers
They work together 🤝
The four Ps are strongest when they work together. A premium product needs a high price, upmarket promotion and an exclusive place. A business must also keep the mix balanced against its competitors, changing customer needs and new technology, such as selling online.
Spot the four Ps ✅
Which FOUR make up the marketing mix?
- Product
- Price
- Promotion
- Place
- Profit
Work out the revenue 🔢
An interactive activity.
Design the mix 🪜
An interactive activity.
Complete the mix 🧩
The marketing mix is made of four Ps. The _____ is what the business sells. The _____ is what the customer pays. _____ is how the product is advertised. _____ is where the product is sold. The four Ps work best when they _____ together.
True or false? 🖍️
An interactive activity.
Which P? 🔎
A business decides to sell its drinks in supermarkets and online. Which P is this?
- Place
- Product
- Price
- Promotion
Fix the mix 🧭
An interactive activity.
Plan a mix ✍️
An interactive activity.