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Marketing vocabulary · Marketing Mix & Product

Marketing mix

Meaning in marketing, with examples

/ˌmɑːrkɪtɪŋ ˈmɪks/nounCore term

In marketing, marketing mix means: The set of decisions a company makes about its product, price, distribution and promotion in order to reach and win its target customers.

In Turkish: pazarlama karması, pazarlama bileşenleri

How it is used

A basic planning framework in textbooks, marketing plans and job interviews. You plan, review or adjust the marketing mix, and people usually describe it through the four Ps. Service businesses often use an extended mix with seven Ps.

Example sentences

  1. Before we change the price, let's look at the whole marketing mix and see what else is holding sales back.

  2. For the new market, the product stays the same, but the rest of the marketing mix will be localised.

Common collocations

  • adjust the marketing mix
  • elements of the marketing mix
  • marketing mix decisions
  • extended marketing mix
  • four PsAn easy way to remember the four main parts of the marketing mix: product, price, place (where and how it is sold) and promotion (how it is communicated).
  • promotionAll the ways a company communicates with customers to persuade them to buy, such as advertising, PR, social media, special offers and personal selling.
  • distribution channelThe route a product takes to reach the final customer, for example through wholesalers, retailers, the company's own stores or an online shop.
  • pricing strategyThe method a company uses to set and change its prices, based on its costs, its competitors, the value customers see and its business goals.

More terms: Marketing Mix & Product

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