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According to the Entrepreneurial Handbook, Market Mix (also known as Marketing Mix) is about the "concept of taking into consideration all the relevant and essential factors" which affect the outcome of the brand's marketing endeavors.
Though the Entrepreneurial Handbook shows that Market Mix has two versions, the 4Ps and the 7Ps, this page will focus more on the 4Ps of Marketing, as the diagram below illustrates.
As self-explanatory as it can be, the 4Ps of Marketing refers to the initials of the four major factors that contribute to the outcome of the brand's marketing attempts.
These are:
Product
Place
Promotion
Price
Product
Basically, what your brand is selling.
It may be an item or a service, consumable or not.
Product features and characteristics
Characteristics that make the product different than the competitors
Typical product size, shape, and form
Product performance, product ratings, and evaluations
Place
A store or a shop that offers your brand's products to consumers.
Where the product is sold
Packaging characteristics, various packaging forms
Manufacturing and distribution structure
Type of retailers used
Convenience store
Hypermarket
Home center
Online store, etc.
Information about the sales force and sales people
Promotion
How you spread awareness of your brand and its products.
This may be done in the field or online, whichever best suits the brand's products.
Advertising activities
Promotion activities
Social media activities
Sampling and trial activities
Branding activities
Joint advertising and collaboration activities
Price
How much your brand's products may cost to the consumers.
This may be the major basis of the consumer's decision to avail of the products.
Typical price range for the major product
If the product is priced as premium, economy, or mainstream
Cost per unit
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