The Marketing Mix

• What are the four elements of the marketing mix?

  Product, Price, Promotion, Place
• Why must a product fulfill customers' needs?

  To ensure customer satisfaction and demand
• What must customers think about the price of a product?

  It is good value for money
• What do the four Ps make up?

  The marketing mix
• Why do potential customers need to know about a product?

  So they want to buy it
• What is necessary for customers to buy a product?

  It must be available in a convenient place
• How do the different elements of the marketing mix affect each other?

  They influence each other's effectiveness
• When might customers pay a higher price for a product?

  If they really want it or it's convenient
• When might customers pay a lower price for a product?

  If they don't need it or it's inconvenient
• What should businesses do as customers' needs change over time?

  Adapt their marketing mix
• How have many products changed over time?

  From being physical to being digital
• How has the place where products are bought changed?

  From shops to websites
• What are the key aspects of the marketing mix that businesses must consider?

  • Product must meet customer needs
  • Price should reflect good value
  • Promotion to raise awareness
  • Place must ensure accessibility