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Table of Contents

  1. Topic pack - Marketing - introduction
  2. 4.1 The role of marketing - notes
  3. 4.1 The role of marketing - questions
  4. 4.2 Marketing Planning - notes
    1. Marketing planning
    2. The marketing mix
    3. The Total Product Concept
    4. Ethics of marketing
    5. Marketing audit
    6. Porter's five forces
    7. Porter's five forces - activities
    8. Marketing objectives
    9. Market research - introduction
    10. The role of market research
    11. Primary and secondary research
    12. Primary research - information gathering techniques
    13. Observations - case studies
    14. Group-based market research
    15. Market research - summary
    16. Questionnaires
    17. Sampling
    18. Methods of sampling - introduction
    19. Main methods of sampling
    20. Sampling errors
    21. Market segmentation
    22. Consumer Profiles
    23. Types of segments
    24. Demographic segmentation
    25. Psychographic segmentation
    26. Psychographic segmentation - case study
    27. Geographic segmentation
    28. Industrial markets
    29. Targeting
    30. Positioning
    31. Corporate image
    32. Position/perception maps
    33. Unique selling point/proposition USP
    34. Marketing strategies and tactics
    35. Sales forecasting
    36. Qualitative forecasting/data
    37. Forecasting and correlation
    38. Forecasting techniques
    39. Constructing time-series analysis
    40. Moving average
    41. Four point moving average - worked example
    42. Identifying the seasonal variation
  5. 4.2 Marketing planning - questions
  6. 4.3 Product introduction - notes
  7. 4.3 Product - questions
  8. 4.3 Product - simulations and activities
  9. 4.4 Price - notes
  10. 4.4 Price - questions
  11. 4.4 Price - simulations and activities
  12. 4.4 Promotion - notes
  13. 4.5 Promotion - questions
  14. 4.6 Place (distribution) - notes
  15. 4.7 International marketing - notes
  16. 4.7 International marketing - questions
  17. 4.8 E-commerce - notes
  18. 4.8 E-commerce - questions
  19. Printable version

The marketing mix

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Marketing Mix:

The marketing mix is the mix of controllable marketing variables that the firm uses to pursue the desired level of sales in the target market. The marketing mix elements of price, product, promotion, and place (or distribution) are the basic, tactical components of a marketing plan.

When preparing a meal or dish, most cooks tend to use a recipe. This lists all the ingredients and quantities required to produce a successful and tasty dish. These ingredients are mixed to produce the final product. As all amateur cooks know, changing any of the ingredients or their quantities may produce a very different looking and/or tasting dish! This analogy applies well to the 'ingredients' of the marketing mix.

The term "marketing mix" was first used in 1953 when Neil Borden, in his American Marketing Association presidential address, took the recipe idea one step further and coined the term "marketing mix". The prominent marketer, E. Jerome McCarthy, proposed a 4 P classification in 1960. The four Ps concept is featured in almost all marketing textbooks and classes.

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We examined these additional Ps in an earlier section when we compared the marketing of goods and services.

We go on to look at all these Ps in more detail in subsequent sections.


A word of warning: Examiners seldom ask questions that want just a simple list of the famous four; it's more how you relate them to the specific product or market featured in the question, so read on!