Marketers use a business tool called the marketing mix, which can be crucial when trying to determine a product or brand’s offer which is why the the 4’P’s of Marketing can be beneficial to use. Manktelow and Carlson (n.d) define marketing “Putting the right product in the right place, at the right price, at the right time” This definition can simply mean that a marketer can create a product for a particular group of people. The marketer needs to put it on sale where this group of people go to on a regular basis and sell it at a price level which matches the value they feel they get out of it. According to Borden (2015), “marketing mix are the ingredients that combine to capture and promote a brand or product’s unique selling points, those that differentiate it from it’s competitors.” The 4 P’s are the elements used in the marketing mix:…show more content… Developing a product, quality, design, features, packaging, customer service should all be considered.
Price - This is the amount of money a customer pays in order to purchase the product. Price setting, discounting, credit and cash purchases are things to think about when setting the price.
Promotion - Promotion is important because it’s a ways of communicating the benefits and value of the product to the consumers. It’s a way to persuade general consumers to become interested in the business and/or product.
Place - Many marketers state that marketing is all about putting the right product, at the right price, at the right place, at the right time. With this said, the place is the location and methods of getting the product to the customer.