Lecture on the Marketing Mix

The marketing mix deals with the way in which a business uses price, product, distribution and promotion to market and sell its product. It is one of the most famous marketing terms. The marketing mix is the tactical or operational part of a marketing plan. The marketing mix is often referred to as the ‘4 Ps’, i.e. product, price, place and promotion. To meet customers’ needs a business must develop products to satisfy them, charge the right price, get the goods to the right place, and it must make the existence of the product known through promotion.