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  1. business-and-its-environment

    enterprise
    6 主题
  2. business-structure
    6 主题
  3. size-of-business
    3 主题
  4. business-objectives
    3 主题
  5. stakeholders-in-a-business
    2 主题
  6. external-influences-on-business
    12 主题
  7. business-strategy
    10 主题
  8. human-resource-management
    human-resource-management-hrm
    8 主题
  9. motivation
    4 主题
  10. management
    2 主题
  11. organisational-structure
    5 主题
  12. business-communication
    5 主题
  13. leadership
    2 主题
  14. human-resource-strategy
    3 主题
  15. marketing
    the-nature-of-marketing
    7 主题
  16. market-research
    3 主题
  17. the-marketing-mix
    6 主题
  18. marketing-analysis
    5 主题
  19. marketing-strategy
    3 主题
  20. operations-management
    the-nature-of-operations
    3 主题
  21. inventory-management
    2 主题
  22. capacity-utilisation-and-outsourcing
    1 主题
  23. location-and-scale
    2 主题
  24. quality-management
    1 主题
  25. operations-strategy
    4 主题
  26. finance-and-accounting
    business-finance
    2 主题
  27. sources-of-finance
    3 主题
  28. forecasting-and-managing-cash-flows
    1 主题
  29. costs
    4 主题
  30. budgets
    1 主题
  31. financial-statements
    4 主题
  32. analysing-published-accounts
    6 主题
  33. investment-appraisal
    2 主题
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An introduction to the 4 Ps

  • The marketing mix (4Ps of marketing) provides a framework for businesses to create and implement successful marketing strategies

  • The 4Ps are

    • Product

    • Price

    • Place

    • Promotion

  • These four components work together to satisfy the needs and want of a target market while achieving the company’s objectives

    • By understanding and manipulating the marketing mix, businesses can differentiate themselves from competitors

The marketing mix

Diagram of the marketing mix with four segments: Product, Price, Place, Promotion. Each lists related elements such as pricing and advertising.
Each business combines the different elements of the marketing mix in unique ways to maximize their profitability

The importance of an integrated marketing mix

  • An integrated marketing mix means that all elements of the marketing mix work together to support a business’s marketing goals

    • Each ‘P’ must match and support the others to ensure a clear, consistent message for customers that meets their expectations

    • If the elements are not aligned, it can confuse customers, weaken the brand and reduce sales

Product

  • The product must meet the needs of the target market in terms of quality, design, features, and reliability

  • It should match what customers want and expect from the brand.

    • E.g. A luxury skincare brand must ensure its product feels premium, with elegant packaging and high-quality ingredients

Price

  • The price must reflect the value customers place on the product, but it also needs to fit the overall strategy

  • Pricing must match the product’s image

    • E.g. A budget airline needs low pricing to match its no-frills service, while a luxury airline must justify higher prices with excellent service and comfort

Place

  • Place refers to where and how the product is sold

  • The choice of distribution channel must suit the product and customer preferences

    • E.g. A youth fashion brand might focus on selling online and through social media platforms, while a specialist tool company may focus on professional trade retailers

Promotion

  • Promotion must support the brand message and reach the target audience in a relevant way

  • Methods and tone used must suit the product and pricing level.

    • E.g. A premium watch brand might use magazine adverts and sponsorships, while a soft drink brand might focus on fun, colourful adverts on TikTok.