Page 38 - Microsoft Word - 00 ACCA F1 Notes Prelims.docx

Chapter 2

4.2 The marketing mix

The traditional marketing mix (4Ps)

 Product: Factors such as quality, design, range, packaging, branding and
warranties.

 Place: Where to sell the products, distribution channels, stock levels and
warehouse locations.

 Promotion: Techniques such as advertising, personal selling, public
relations, sales promotion, sponsorship and direct marketing.

 Price: Price level, discounts, credit policy and payment methods.

Additional 3Ps for the service industry

 People: Relates to both staff and customers.

 Processes: Systems through which the service is delivered.

 Physical evidence: Makes the intangible service more tangible.

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