Topic 19 · business
Marketing and the Marketing Mix
Marketing is not advertising but understanding the customer: what they need, at what price, where, and how to tell them about it.
What marketing is
Marketing is the skill of creating value for the customer and delivering it. It starts with the question “whose need is it and how do we meet it better than others”.
The 4P marketing mix
Four levers: Product, Price, Place (where it is sold), Promotion. They are aligned with each other.
The customer view (4C)
The same mix from the eyes of the customer: value (Customer value), cost (Cost), convenience (Convenience), communication (Communication).
🎯 Now possible
- explain what marketing is
- name the elements of the 4P
- look at a product from the customer view
Cheat sheet
Marketing = value for the customer, not just ads
4P: product · price · place · promotion
All 4P must be aligned
4C — the same mix from the customer view