Marketing Mix (4 Ps: Product, Price, Place, Promotion)

The Marketing Mix, often referred to as the 4 Ps, is a classic framework used by businesses to develop their marketing strategies. The four elements are:

1. Product: The goods or services offered to meet customer needs. This includes features, design, branding, and packaging.
2. Price: The amount customers pay for the product. This involves pricing strategy, discounts, and payment terms.
3. Place (Distribution): How the product reaches the customer. This includes distribution Channels, logistics, and Ad Inventory locations.
4. Promotion: The communication activities used to inform, persuade, and remind customers about the product. This encompasses advertising (Ad Copy, Ad Creative), Public Relations (PR), sales promotions, and Direct Marketing.

Effective marketing involves finding the right combination of these four elements to appeal to the Target Market. Advertising falls primarily under 'Promotion'.