Section outline

  • The Marketing Mix

    This week we will start looking at the marketing mix. 

    Essentially, the marketing mix is a combination of the 4P's, product, price, place and promotion. Simply put, it is about putting the right product in the right place, at the right time, and at the right price. You will see that in the diagram that at the centre of this mix is the target market. This is the group of consumers to which the product or service is aimed.

    The marketing mix includes the actions that a business will take to research and find out what their target market needs or wants from their product, developing the product features including packaging that will appeal to the target market, promoting this product so that the target market are informed of how the product will meet their needs and wants, where they can find it and how much it will cost them.

    DO NOW! Watch the video below and then answer the questions that follow:


    1. Define the marketing mix
    2. List some of the features included for each of the 4P's: Product; Price; Place; Promotion.
    3. Why is it important to know who your target market is? Explain using the 4P's.

    TASK: PRODUCT PROFILE & TARGET MARKET

    1. Choose a specific product to profile for this activity. 

    For example: Not 'coke.' Coke is a brand. Be specific! A 375ml can of coke no sugar. 

    This will help you with identifying the target market for the product. There is a difference between the target market of a 2 litre bottle of coke and 375ml can. 

    Likewise is you are choosing a product that comes in a range of colours, then choose a specific colour. E.g. iPhone 11 Pro Max come in midnight green, space grey, silver and gold finishes.

    2. Describe in detail the target market for your chosen product. Ensure that you look at demographic; psychographic; geographic; behavioural characteristics.

    3. Answer the following questions about your chosen product:

    • What’s the name of the product? 
    • Does it have a catchy name? 
    • Does the name suggest anything about the product? 
    • Is there anything in the name that appeals to the target market.
    • What does the product look like? 
    • What are the sizes or colours available? 
    • How does the size or colour appeal to the target market
    • What does the target market need or want from the product?
    • How will the customer use it? Where will they use it?
    • What features does the product have to meet the customers needs?
    • What are its functions? (What does it do?)