Title: Describe the elements of the marketing mix.
Course: Principles of Business and Marketing (12051-36) > Section: Exploring the Core Concepts of Business and Marketing

Description should include a definition of marketing mix that incorporates the following four components (four Ps):

- Product (any good or service offered to the target market)
- Place (distribution or convenience)
- Price (payment and method)
- Promotion (methods of communication)

Process/Skill Questions:

- What are the four Ps of the marketing mix? Why is “people” sometimes called the fifth P of marketing?
- How is each component of the marketing mix related to the others?
- What questions should be considered regarding the target market to create a successful marketing mix?
- How does one choose a distribution method? How does one choose where to distribute?
- How does one chose a promotion method?
- What role does target market play in the marketing mix?
- Why is it important to have a target market for each component of the marketing mix?