After marketers select a target market, they direct their activities towards profitably satisfying that segment.
After marketers select a target
market, they direct their activities towards profitably satisfying that
segment. Although they must manipulate many variables to reach this goal,
marketing decision making can be divided into four areas: product, price, place
(distribution) and promotion (marketing communication). The total package forms
the marketing mix – the blending of the four elements to fit the
needs and preferences of a specific target market. These are the four variables
that a marketer can use in different combinations to create value for
customers. Several of the sub-elements in each of the four Ps that constitute
the marketing mix are listed in the following table.
Tags : MARKETING MANAGEMENT - Introduction to Marketing Mix
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