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The Marketing Mix - ActivityThe marketing mix is the combination of elements that frame the marketing strategy for a company in relation to their products and services, in order to help them achieve their marketing objectives. Traditionally, the marketing mix has focussed on four elements:
However, this has been extended in recent years as certain features in relation to the marketing of services have become recognised as being important. There are an additional 3 Ps that now make up what has been referred to as the '7 Ps'.
Each of these elements will be important in its own way but for some products the emphasis on one or more may be stronger. This will depend in part on the nature of the product or service and the objectives of the business concerned. The aim of this Activity is to encourage you to use your knowledge of the 7 Ps and apply them to a selection of products and services, taking into consideration the relative importance of each element in the mix to those products. You will need to think of what role each 'P' plays in the overall marketing strategy for the product and offer a brief explanation for your reasoning.
What is the importance of each element of the marketing mix as suggested by this photograph? © Edu Wagtelenberg, Stock.Xchng The TaskBelow is a list of links to top companies who have a variety of brands making up their business. Choose five products and services (ensure that at least two of your choices are services) and identify the relevance of the 7 Ps to the product/service of your choice.
These are just examples - you can of course select products or services of your own choosing. Example: Stella Artois
Image source: Rodrigo David Brief description - premium grade, relatively strong lager.
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