What Is a Marketing Mix?

A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan. The term
often refers to a common classification that began as the four Ps: product, price, placement, and
promotion.

Effective marketing touches on a broad range of areas as opposed to fixating on one message. Doing so
helps reach a wider audience, and by keeping the four Ps in mind, marketing professionals are better
able to maintain focus on the things that really matter. Focusing on a marketing mix helps organizations
make strategic decisions when launching new products or revising existing products.

A marketing mix refers to a framework that uses the four Ps of product, price, placement, and
promotion.

This concept traces back to 1960, when marketing professor E. Jerome McCarthy first published it in a
book entitled Basic Marketing: A Managerial Approach.

The different elements of a marketing mix work in conjunction with one another with the ultimate
purpose of generating higher sales.

In addition to the 4 Ps, three approaches can also be integrated that include people, process, and
physical evidence to reinforce a consumer-centric type of marketing strategy.

This type of strategy extends beyond a product-focused marketing approach.

What Are the Four Elements of a Marketing Mix?

The four primary elements of a marketing mix are product, price, placement, and promotion. This
framework aims to create a comprehensive plan to distinguish a product or service from competitors
that creates value for the customer. Often, these elements are dependent on each other.

Product refers to a good or service that meets a customer's needs. Here, companies focus on features
that differentiate it from its competitors. An organization may also consider complementary products
that fit within its suite of product or service offerings.

Price represents the price point or price