Marketing Mix

The marketing mix is the combination of product, price, place and promotion for any business venture.

A company needs to consider the marketing mix in order to meet their consumers’ needs effectively.

No one element of the marketing mix is more important than another – each element ideally supports the others.

Firms modify each element in the marketing mix to establish an overall brand image and unique selling point that makes their products stand out from the competition.

There is no single right marketing mix that works for all businesses at all times. The combination of product, price promotion and place chosen by a business will depend on its size, competition, the nature of the product and its objectives.