Lesson notes, exercises, downloads, and recommended reading are below the video. On mobile, the video will rescale when you play it.


What is the Marketing Mix – The 4Ps: Product, Price, Place, Promotion?

The job of marketing is to make potential customers aware of your products or services. And the Marketing Mix is consists of the different strategies for doing this.

Watching this video is worth 4 Management Courses CPD Points*.
🔎 See below for details

Marketing for Managers
This video is part of course module number 8.3.3
Program 8: Managing Customers & Clients
Course 3: Marketing for Managers
Section 2: Marketing Mix

Other videos in this section include:
🎬 Marketing Mix: Product – What is the Product Marketing? https://youtu.be/uBFcQByXn9Y
🎬 Marketing Mix: Price and Pricing Strategy https://youtu.be/0U9NhG4I0uw
🎬 Marketing Mix: Place https://youtu.be/DVaYT7zU7rE
🎬 Marketing Mix: What is Promotion? https://youtu.be/n552xtFOV2Q
🎬 Marketing Mix: What is Positioning? https://youtu.be/4_wIDOKJS2Q
🎬 What is the Marketing Channel Mix? https://youtu.be/pH6Zjrd3IB4
🎬 What is Public Relations (PR)? https://youtu.be/2Nc2gDAaxzY
🎬 Guy Kawasaki: What is Enchantment? https://youtu.be/8exdRE6gp8k
🎬 Seth Godin: What are Tribes? https://youtu.be/INKI-FRUNcA

LESSON NOTES
Marketing Mix is the set of marketing tools, actions, or tactics, that a company can use to get the response it wants, from the market.

James Culliton: marketers as ‘mixers of ingredients’.
Neil Borden: the term ‘Marketing Mix’
E. Jerome McCarthy: the ‘Four Ps of Marketing’.

Jerome McCarthy’s 4 Ps of Marketing
The original Marketing Mix formulation was:
• Product
• Price
• Place
• Promotion

Give me four Ps and I’ll find you more:
– Physical Evidence
– Process
– People
– Performance
– Packaging
– Politics
– Partners
– Positioning

Koichi Shimizu in 1973:
• Commodity (product)
• Cost (price)
• Communication (promotion)
• Channel (place)
Later, he expanded this to 7, adding:
• Corporation
• Consumer
• Circumstances

Robert Lauterborn in 1990. He chose a similar set, which he optimised for niche marketing:
• Customer Value (product)
• Cost (price)
• Communication (promotion)
• Convenience (place)

RECOMMENDED EXERCISE
1. Think about a product or service your organization produces and markets. What are the elements of its marketing in terms of the four Ps of product, price, place, and promotion? (4 MC CPD Points) – if your organization doesn’t produce a product or service, then pick one you are familiar with either through your work or domestic life.

2. Now go through the other elements of the marketing mix for that product (4 MC CPD Points)

DOWNLOADS
Free Resources
🧰 CPD Tools – https://gum.co/MC-CPD

Paid resources
🧳 Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)

RECOMMENDED READING
📖 Very quick overview
Marketing: A Very Short Introduction https://geni.us/ozSJF
📖 Good general overviews
Kotler on Marketing https://geni.us/JNeVHy
Positioning: The Battle for Your Mind https://geni.us/kGj4KCA
The 22 Immutable Laws of Marketing https://geni.us/RVU1
Marketing For Dummies https://geni.us/sZXAw
📖 Small business marketing
The 1-Page Marketing Plan https://geni.us/Xb4wBk
📖 For a textbook, you can’t go wrong with Kotler’s name on it!
Marketing: An Introduction https://geni.us/q4gzVOw
Principles of Marketing https://geni.us/gsFeMT5
Marketing Management https://geni.us/i3FO

⭕️ Links to our book recommendations are affiliated through Amazon

Managers Need a Basic set of kit to do your job well. Here are my top recommendations: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)

MANAGEMENT COURSES CONTINUING PROFESSIONAL DEVELOPMENT (CPD) POINTS
You can record your Management Courses CPD points on our free, downloadable CPD record log.
📓 Download it at: https://gum.co/MC-CPD
Each video has two levels of MC CPD points. For this video:
– If you simply watched the video, record 4 MC CPD points
– If you also carried out all of the recommended exercises, score a total of 12 MC CPD points

#Marketing #ManagementCourses #MarketingMix

source

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What is PESTLE Analysis?
The Miller Heiman Strategic Selling Methodology
What is NLP Modelling? And How do we to Do it?
NLP & Hypnosis: What is the Milton Model?
NLP Meta Model: Precision Questioning and Listening
What is NLP? Neuro Linguistic Programming
Howard Gardner: Emotional Intelligence in the Multiple Intelligences Model
Don Draper: In Mad Men, Advertising is Cool
Vance Packard – The Hidden Persuaders
David Ogilvy: The Father of Advertising
Seth Godin: Powerhouse of Marketing Ideas
Jean-Claude Larréché and Marketing Momentum
Theodore Levitt: Globalization of Marketing
Philip Kotler: The Father of Modern Marketing
Estée Lauder: The Mother of Modern Marketing
Advertising Campaign Monitoring & Evaluation
Media Buying: The Three Stages
All of the Advertising Media I Can Think of
Top 20 Strategies for Persuasive Ad Copy: Advertising Copy Strategies
The Creative Process: Developing, Writing, and Producing an Advert
Advertising Agencies: What They Offer and How to Select and Brief an Ad Agency
Planning an Advertising Campaign: Campaign Objective and Budget
What is Advertising? And What are its Benefits?
What is SEO? Search Engine Optimization
What is a USP? A Unique Selling Proposition
What is A/B Testing? …and Split Testing?
What is Remarketing? (or Retargeting)
What is Marketing Automation? And How to set it up.
What is Seth Godin’s Permission Marketing? And How to Build Your Campaign
What is Customer Relationship Management (CRM)? …And How to Use it.
What is the Customer Journey? And How to Visualize it
Seth Godin: What are Tribes?
Guy Kawasaki: What is Enchantment?
What is Public Relations (PR)?
What is the Marketing Channel Mix? Promotion Channel Strategy
Marketing Mix: The Fifth P – What is Positioning?
Marketing Mix: Crafting a Message – What is Promotion?
Marketing Mix: Place and Distribution Channels
Marketing Mix: Price and Pricing Strategy
Marketing Mix: Product – What is the Product Marketing?
What is Multi-Level Marketing (MLM)?
What is a Customer Persona? …or Buyer Persona or Marketing Persona
What is Market Segmentation?
What is a Marketing Strategy?

Mike Clayton

About Mike Clayton 

Dr Mike Clayton is a (former) Project Manager and now a management educator. Having trained thousands of people at live workshops, seminars, and conferences, he now delivers training mainly via video. He has 14 books with international publishers and runs two successful YouTube channels. He is also the founder of OnlinePMCourses.com

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