Place. Price

It helps to think of the four major parts of a marketing mix as the four "Ps".

3. Exhibit 3 emphasizes their relationship and their common focus on the customer - "С".

Product Place

C

Price Promotion

Exhibit 3

The customer is not part of the marketing mix. The customer should be the target of all marketing efforts. The customer is placed in the center of the diagram to show this. The C stands for some specific customers - the target market.

4. The Product area is concerned with developing the "right" product for the target market. This offering may involve a physical good, a service or a blend of both.

5. Place is concerned with getting the "right" product to the target market's Place. A product isn't much good to a customer if it isn't available when and where it's wanted.

6. The third P - Promotion - is concerned with telling the target market about the "right" product. Promotion includes personal selling, mass selling and sales promotion.

7. In addition to developing the right Product, Place and Promotion marketing managers must also decide the right Price after estimating expected customer reaction to possible prices. All four "P's" are needed in a marketing mix. In fact, they should all be tied together. They all are equally important.