In 1964, Edmund Jerome McCarthy developed a popular set of variables that an organisation can manage towards implementing a marketing strategy directed at a specific target market. This classification is known as the Marketing Mix or the 4Ps of Marketing and includes Product, Pricing, Place and Promotion.
The Marketing Mix can be simply summarised as: “the right product, in the right place, at the right time, and at the right price”. The operational aspects of managing each of these marketing elements in the Marketing Plan will be applied in detail in this session.
The learning elements of this lesson are the following: