3.3.1—Marketing mix elements

The marketing mix is a coordinated set of decisions about product, price, promotion and place. A coherent mix makes the value proposition deliverable to a chosen segment.

Changing one element can alter the others: a premium product may need quality-controlled distribution and communication, while a low-cost offer may require efficient channels.

A new meal kit could alter portion size, subscription price, social promotion and delivery coverage together rather than optimise each decision separately.

The “best” mix depends on target customers, objectives, resources and competitors; the four labels are not a recipe.