Marketing Mix and the fourth P

 Today we talk about so many different topics, but there was one that call more my attention, and it was the Marketing Mix, we define the Marketing Mix as the combination of the minimum variables necessary to be able to develop efficient and effective strategies for the selected market. It sis compose of 4 aspect.

First of all the P from Product that involves the goods or services that aims to meet the needs of our client, also it is related to the guarantees and the expectation the client has and the value added in the visual form of the product itself must be considered.

The second P is related to the Price and it’s the only P that translates into monetary terms and generates income, you most establish ways in which the price will be set, in class we talk about 3 ways to establish the price, the first was named Costing that is the most easy, considering the cost of the manufacturing of the product you add the percentage you want to win, the second is  known as Pricing that is the most used, that is making an market investigation about the prices of your direct competition, and the last way to set the price we so is the Consumer Perception that is the less reliable because the costumers not always know the things that are involved on the creation of the product.

The third P is the Place, it considerers the distribution channels that the organization requires to deliver the products.

And the last of the 4 P is the Promotion that is related to the marketing and the ways to communicate with the clients.