The term marketing mix refers to a unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market. You may have heard this described as the 4 P’s of marketing (product, place, promotion, price). Review and understand the four parts of the marketing mix on pages 27-28 of your text. Then choose an idea, good, or service with which you are familiar and describe its marketing mix and how it resulted (or did not result) in a satisfying exchange for you. Clearly explain each element.
1. Describe the product.
2. How is it distributed or placed?
3. How is it promoted?
4. How is it priced relative to competition?