A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion.
These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. Sometimes the first P (Product) is substituted by presentation. See also marketing and mega marketing.
The marketing mix
is a business tool used in marketing
and by marketing professionals. The marketing mix is often crucial when
determining a product or brand's offering, and is often synonymous with the four
Ps: price, product, promotion, and place; in
service marketing, however, the four Ps have been expanded to the Seven Ps
or eight Ps to address the different nature of services these are–
physical evidence, people, process.
In recent times,
the concept of four Cs has been introduced as a more customer-driven
replacement of four Ps. And there are two four Cs
theories today. One is Lauterborn's four Cs (consumer, cost, communication,
convenience), another is