1 Learn the concept
The marketing mix is the set of decisions a business makes about how it brings a product to market. The classic version is the four Ps: product, price, place and promotion. Marketers use it as a checklist to make sure a plan covers everything customers see and experience. Changing one element often means adjusting the others. This lesson explains each part and how they fit together.
2 See it in action
- Product: what is sold and what problem it solves.
- Price: what customers pay and how that price signals value.
- Place: where and how customers can buy it.
- Promotion: how the business tells people about it.
Worked example
Checking that the four Ps agree
Product: gluten-free loaf. Price: $9, higher than regular bread. Place: sold only in the shop at 10 a.m. Promotion: an ad promising "everyday low prices".
Problem: the promotion contradicts the price, and selling only at 10 a.m. misses the customers who need it for breakfast.
Fix: promote it as a premium everyday staple, offer pre-orders for early pickup, and drop the "low price" message.
Takeaway: change one P and check whether the other three still match.
3 Study an example
Real-world case study
Share a Coke: changing the product to change everything else
What they did. In 2011 Coca-Cola Australia launched Share a Coke. Bottles carried a person's first name, chosen from a list of 250 of the country's most popular names, instead of the usual logo on the front, in a custom typeface, and people were invited to find a bottle with their name and share it with friends. The campaign was later rolled out in more than 80 countries.
What happened. Ogilvy estimated that in Australia it increased Coke's share of the category by 4% and consumption among young adults by 7%. In the United States it was credited with raising sales by more than 2% and helping reverse a long period of decline, according to a Wikipedia summary of reported figures.
What to take away. One change to the product's packaging also changed the other Ps: promotion (people shared photos of their bottles), place (finding a name on a shelf became a game) and the way people thought about price. The mix worked because the parts agreed.
Results are agency and press estimates, not audited figures.
Sources Wikipedia: Share a Coke
4 Apply it and download
- Choose a business and describe each of the four Ps.
- Find one element that does not match the others.
- Complete the marketing mix map.
Worksheet Marketing mix mapOpen, print or save as PDF