Marketing mix

ZIMSEC O Level Business Studies Notes: Marketing: Marketing mix

  • Refers to a set of marketing tools that the firm uses to pursue its marketing objectives in the target market
  • It is used to describe four variable decisions that a business has to make when it is marketing its products
  • These variables are also known as the four Ps viz:
  • Product
  • Promotion
  • Price and
  • Place
  • The business has to find the right combination or mix for each target market or segment
  • The Ps cannot be set and determined in isolation
  • For example:
  • A product’s price has a bearing on the promotional strategies used to market it. It would be improper and wasteful to market it in low income publications for example
  • It would also make much more sense to sell an expensive product in high income places and
  • A product’s packaging has to fit its price
  • These four elements are adjusted until the right combination is found that serves the needs of the product’s customers,
  • while generating optimum income

To access more topics go to theĀ O Level Business Notes

By |2017-06-08T13:17:39+00:00June 8th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|Comments Off on Marketing mix

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He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.
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