The Marketing Mix

Abstract

Once an organisation knows its position in relation to its market, understands its internal and external position, and has an idea of what its customers need, it can develop its marketing strategy. Organisations have four major variables that can be controlled in order to arrive at their marketing strategy. These are the product/service produced by the organisation, its price, the way it is promoted and the place(s) through which it is made available to the consumers. These variables, the four ‘Ps’, constitute the marketing mix:

• product;

• price;

• place;

• promotion.