Elements of the marketing mix
The main purpose of marketing is to increase sales. To do this, businesses will create a Planned activities designed to increase awareness or sales of a product or service. by integrating the elements of the A description of marketingâproduct, price, promotion, place. - product, price, place and promotion.
Think of a marketing strategy as a cake that is baked using four ingredients. If the ingredients are mixed together in the right way, then the marketing campaign is more likely to be successful.
If one of the ingredients is not mixed in the right quantity, then the chances of success are lower.
Forgetting about one of the ingredients completely means the cake, or marketing campaign, is unlikely to succeed.
How the elements of the marketing mix work together
Each element of the marketing mix influences the others, so the messages across all elements need to be consistent. For example, a business selling luxury cruises to people who are retired would be unlikely to do well by The method by which goods or services are promoted to their potential consumer base. them at very low prices, in magazines aimed at teenagers.
The need for consistency means that sometimes there have to be compromises when making decisions about the different elements.
| Element | How it influences âproductâ | How it influences âpriceâ | How it influences âplaceâ | How it influences âpromotionâ |
| Product | If the product is expensive to produce, the price will have to be higher | If the product has to be tried on, it may be most successful if sold from a shop | A new product may need more promotion than a mature product | |
| Price | If price needs to be low, the quality of the product may be affected | It would not be advisable to sell expensive products through discount retailers | Expensive products may be best suited to being promoted with a free gift | |
| Place | A product sold in luxury outlets needs to be high quality | A product that is sold cheaply may be sold in discount shops | A product that is only sold online may need a different approach from one sold in shops, eg more information about the product | |
| Promotion | A buy-one-get-one-free offer would not be suitable for an expensive product | Promotions can be used to reduce the cost of products that have a high price | A promotion campaign that used national media would require the product to be available nationally |
| Element | Product |
|---|---|
| How it influences âproductâ | |
| How it influences âpriceâ | If the product is expensive to produce, the price will have to be higher |
| How it influences âplaceâ | If the product has to be tried on, it may be most successful if sold from a shop |
| How it influences âpromotionâ | A new product may need more promotion than a mature product |
| Element | Price |
|---|---|
| How it influences âproductâ | If price needs to be low, the quality of the product may be affected |
| How it influences âpriceâ | |
| How it influences âplaceâ | It would not be advisable to sell expensive products through discount retailers |
| How it influences âpromotionâ | Expensive products may be best suited to being promoted with a free gift |
| Element | Place |
|---|---|
| How it influences âproductâ | A product sold in luxury outlets needs to be high quality |
| How it influences âpriceâ | A product that is sold cheaply may be sold in discount shops |
| How it influences âplaceâ | |
| How it influences âpromotionâ | A product that is only sold online may need a different approach from one sold in shops, eg more information about the product |
| Element | Promotion |
|---|---|
| How it influences âproductâ | A buy-one-get-one-free offer would not be suitable for an expensive product |
| How it influences âpriceâ | Promotions can be used to reduce the cost of products that have a high price |
| How it influences âplaceâ | A promotion campaign that used national media would require the product to be available nationally |
| How it influences âpromotionâ |