Marketing · Both
The Marketing Mix (4Ps)
The marketing mix combines product, price, place and promotion to meet customer needs and achieve objectives.
The 4Ps
• **Product** – design, quality, branding, product life cycle
• **Price** – cost-plus, competitive, skimming, penetration
• **Place** – channels: shops, online, wholesale
• **Promotion** – advertising, sales promotion, PR, digital/social
Fit and research
Mix must match the target market.
Market research (primary/secondary) reduces risk of poor decisions.
Worked example
When might penetration pricing be used?
Solution: To gain market share quickly with a low launch price.
Practice questions
1. Name the 4Ps.
2. Primary vs secondary research?