Marketing Mix - GCSE Business Definition

The Marketing Mix refers to the combination of factors a firm uses to influence the purchase of its products. The "Four Ps"—Product, Price, Place, and Promotion—involve deciding what product to offer, how to price it, where to sell it, and how to promote it. For GCSE Business students, understanding the marketing mix is crucial because it helps businesses target their offerings better to meet customer needs effectively. Ultimately, it contributes to their success in a competitive marketplace. By balancing these elements, businesses aim to meet their marketing objectives and achieve a sustainable competitive advantage.