The marketing mix is the combination of manageable tactical marketing tools – traditionally known as the “4 Ps”: Product, Price, Place (distribution), and Promotion. The company combines these tools to elicit the desired response from the target market.
The product meets the needs of the target market; Price is the value that customers pay; Place makes the product available; and Promotion communicates its merits. An effective marketing mix is one that synchronizes all the “Ps” to deliver maximum customer value.
