Marketing mix: product, price, distribution, promotion, people - the right composition of marketing elements

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Marketing mix: product, price, distribution, promotion, people - the right composition of marketing elements

 

Marketing mix: product, price, distribution, promotion, people - the right composition of marketing elements

 

Marketing mix is ​​one of the most important areas of marketing. The marketing mix consists of: product, price, distribution (place) and promotion - the so-called "Four P" from Product, Price, Place, Promotion. For this so-called from English 4P (Product, Price, Place, Promotion) another 5 element marketing personnel (People) is often added. In this way we get a marketing mix consisting of 5 elements, in marketing theory abbreviated as so-called 5P.

Marketing mix is ​​the part of marketing management that focuses on the product and the customer.

Marketing mix: product, price, distribution, promotion are the basics of marketer's knowledge.

 

Marketing mix: product, price, distribution, promotion - five "P" - let's briefly discuss each of the 5 ps contained in the slogan: Marketing mix

Product (in English Product) - a tangible product + its packaging. The concept of PRODUCT in marketing mix theory consists of:

Product Range, Quality, Design, Features, Brand, Packaging, Sizes, Service, Warranty.

Price (Price) - adequate to market conditions, resulting from market laws (demand versus supply). The concept of PRICES in the marketing mix theory consists of:

Price strategies, catalog price, rebates (discounts), payment periods, loan terms.

Distribution (in English) - suitable for a group of potential customers. The concept of DISTRIBUTION in marketing mix theory consists of:

Distribution channels, Territorial coverage, Offered assortment, Location, Inventory, Transport, logistics.

Promotion - showing the product in the right way for the needs of potential customers. The concept of PROMOTION in the theory of marketing mix consists of:

Advertising, Sales promotion, Public Relations, Direct marketing, Display, Encouragement (e.g. discount), Sponsorship, Packaging.

People - people, staff who take care of the customer, the product, distribution and sale of the product and its advertising.

Marketing mix summary

Marketing mix is ​​the right composition of marketing elements, i.e. elements:

Product, Price, Distribution, Promotion, Personnel. By using the correct proportions of each element of the Marketing mix, the company is able to maximize the effects of its business operations.

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