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Marketers have essentially four variables to use when crafting a marketing
strategy and writing a marketing plan. They are price, promotion, product and distribution
(also called placement). They are sometimes referred to as the four p's.
A marketing mix is a combining of these four variables in a way that will meet or exceed organizational
objectives. A separate marketing mix is usually crafted for each product offering. When constructing the mix, marketers must always be thinking of who their target market are. Mix coherency refers to how well the components of
the mix blend together. A strategy of selling expensive luxury products in discount stores has poor coherency between
distribution and product offering.
In the long term, all four of the mix variables can be changed, but in the short term it is difficult to modify the product or
the distribution channel. Therefore in the short term, marketers are limited to working with only half their tool kit. This
limitation underscores the importance of long term strategic planning.
Some commentators have increased the number of p's in the mix to 5, 6 or even 8. "People" is sometimes added, recognizing the
importance of the human element in all aspects of marketing. Others include "Partners" as a mix variable because of the growing
importance of collaborative channel relationships.
see also: marketing, marketing plan, positioning,
marketing management
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