What is Marketing Mix | The 4Ps of Marketing

A technique is used by Marketers to Place and promote the product in a specific market, and Target the segment to generate a positive response toward the product and priced it according to the value of Product.

The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place

Marketing and 4 p's of marketing

The Marketing Mix (4Ps of Marketing)

After describing the market condition the next is How to the product/services will be priced, distributed and promoted.

Product
Product is anything that is offered by a firm for a need and want. Packaging, Quantity, Features, attributes and labeling etc come in the designing of product.

Price
Price is the amount which a consumer pays for a product. After the product has fully designed marketer starts thinking about:

• how to priced it?
• what will be the margin in this product?
• what will be the effect of this price on the consumers?
• what discount rate should be appropriate to promote the selling of this product?

Remember that pricing is always done according to the product value.

Place
The process to make a product accessible to consumer.
placement of a product can be done by distribution.

• Intensive Distribution
• Selective Distribution
• Exclusive Distribution

Promotion
Promotion of a product is important to inform and aware the customers about the product/services .
Its involves advertising, personal selling, customer and public relations, direct marketing and sales promotion techniques.

• The promotion is very important tool for building of a brand image and identity.
• To differentiate the product. e.g Pepsi and coca cola 
• Increase the sales and demand of the product.
• Promotion is important for brand positioning

The marketing mix is the essential element used in marketing plan of the business plan.