The Marketing Mix
THE MARKETING mix is like a complex recipe for a special dish that you prepare in the kitchen. Each of the ingredients is essential. Each of the ingredients must be blended into the recipe in exactly the correct form and quantity, and at exactly the right time, for the dish to turn out tasting delicious.
There are seven Ps to the marketing mix. A change in any one of these ingredients can bring about a small or a large change in your business. Often, a change in one element of one part of the marketing mix can transform your business completely, from a small business to a large business, or if you are unlucky, from a large business into a small business. Let’s take them in order.
The Product or Service
The first ingredient ...