Marketing Mix is the mixture of four p's which has been said to be essential for a business or a company when branding and promoting their product. the four P's are : Product, Place, Price, Promotion.
PRODUCT : Product is the goods that is being sold and promoted by the company. kit kat being the nestle product is widely produced and consumed . they promoted the product by making the product in a different way that is four finger , which led to its promotion.
PLACE: place plays a major role when promoting a product as it has to be decided where the product should be sold depending on the target group of the company. kit kat at first thought of not selling at various outlets so that people demand for more, the strategy worked for some time but later on they had to make it available at different places as sales was being affected.
PRICE: What should be the price of the product depending on the cost of the product . my product being kit kat starts from 5 rupee and then goes on increasing depending on the size of the product as kit kat product size is increased, they provide more quantity and charge according to that.
PROMOTION: Product in order to remain in the market requires promotion
PLACE: place plays a major role when promoting a product as it has to be decided where the product should be sold depending on the target group of the company. kit kat at first thought of not selling at various outlets so that people demand for more, the strategy worked for some time but later on they had to make it available at different places as sales was being affected.
PRICE: What should be the price of the product depending on the cost of the product . my product being kit kat starts from 5 rupee and then goes on increasing depending on the size of the product as kit kat product size is increased, they provide more quantity and charge according to that.
PROMOTION: Product in order to remain in the market requires promotion
Nice article on Marketing Mix.
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