Now we move to the
Marketing mix. The marketing philosophy, once adopted by a business, can be
seen in its marketing mix. The marketing mix is a combination of all the
factors that can affect the successful development of a profitable business.
The emphasis placed on any
of the elements of the marketing mix may change depending on the type of
business, its market place and its strategic objectives Once a business adopts
the marketing concept, the marketing department. becomes the pivotal centre of
the business, helping to coordinate the elements the mix and ensuring that
everyone who contributes understands their involvement in helping the business
to succeed.
The main constituents of the
marketing mix are often known as 'The 4 Ps':
- Product
- Price
- Place
- Promotion
There are also other
constituents can be added to the above specially when it comes to market a
service. These constituents are:
- People (Participants)
- Process
- Presence (Physical Environment)
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