Focus on the Marketing Mix: What is it for?

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It was in 1960 that Edmund Jerome McCarthy published "Basic Marketing: A Managerial Approach", the text that would later lead to the development of the 4Ps of the marketing mix: an approach so innovative to the subject of marketing that with a few revisions, it is still used today.

Table of Contents
What is the marketing mix used for?
The marketing mix is ​​the set of marketing levers that the company defines and uses to satisfy the consumer and achieve its market objectives.



Behind this definition of the marketing mix lies a precise approach to the subject cambodia telegram which at the time of its introduction was revolutionary: focusing on the elements that make up the marketing plan from a strategic point of view , and therefore that the company can manipulate, rather than on the functions carried out by those who deal with marketing.

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4P marketing stems from this type of approach, namely:

Product (the product or service offered by the company)
Price (the price)
Placement (the distribution channel)
Promotion (la promotion).


So many elements on which to act to influence the behavior of the end customer and therefore sales and revenues: by modifying the product, by acting on the price, by refining the distribution channels, by adequately promoting its offer.



To create a marketing mix, it is necessary to define, market and promote an offer.

mix marketing

The 4 P's of the Marketing Mix
The first description of the 4Ps of the marketing mix dates back to Edmund J. McCarthy and his 1960 text. However, we often hear about the " Kotler 4Ps " because it was Philip Kotler himself who made this revolutionary approach to marketing known on a large-scale commercialization.

We therefore start from the description of the 4Ps; we will see later when and why the need arose to include new elements among the levers of the marketing mix.



Product (the product)


The product (or service) is defined based on market demands, trends, competition and for this reason it represents the first “P” of our marketing mix.



Indeed, a company can only survive if its offering remains in line with the needs and demands of consumers.



The product must therefore be defined according to the needs of customers and their ability to differentiate themselves from competitors' offerings .



From a marketing perspective, the product also requires other evaluations that are related to how time changes its perception.

The product must change over time
The product is subject to obsolescence
Product profitability and margins vary over time


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Price (the price)


What does the price of a product, for example a car, depend on? There are obviously technical constraints, represented for example by the cost of production, the need to cover costs and ensure a minimum margin, the position of the company in the distribution chain and other elements.



However, there is a very strong value linked to marketing: competition, positioning, product life cycle.



Those who come out with the lowest price may have a competitive advantage, but they may also convey the idea that their product is of very poor quality. On the contrary, for products of a certain range, it is the price that qualifies them as luxurious, desirable, even before their intrinsic characteristics.



Pricing policy becomes an extremely delicate operation which must reconcile the needs of the marginality with those of the market, reconciling them with the prices of the competition.

The upper limit of the theoretical price is given by the elasticity of the demand curve; unfortunately, in real markets the demand curve is impossible to determine precisely and must therefore be deduced. Precisely because of the law of elasticity of demand, in fact, higher prices do not always provide larger total margins.