Putting it simply, marketing is a matter of matching customers' needs and the products and services offered by any company. The organization, for example, your own business now needs to understand exactly how to communicate to their customers in a way to make them want to build a relationship with you and your business.

Now there are multiple factors an organization will want to consider in communicating to the customers and prospective customers. Using the Marketing Mix tool will be extremely helpful in planning the marketing communication campaign of an organization. Below I have listed the four "P's" of the Marketing Mix.

Product: The product or service offered by the business should really be good enough to get the attention of any buyers or consumers. Even if the Promotion and Price were good, if the product below the standards, the customers would find out and the end result would be a marketing disaster for the company.

The product development should really only depend on the clients’ wants and needs, which calls for an extremely careful research. When you are researching with marketing you will want to essentially communicate with the customers to the business which is initiated by the latter. This means you should discover preferences, needs and potentials in the market.

However, at times a product can be imposed upon the customers. Take for example Coca Cola, people do not need coke, but it is still a demand on the market. Why is this? Well, because Coca Cola has found its niche in the market and people are willing to pay money for it because they want it.

Price: A business or organization has to certify their profitability at the same time as assuring that the product or service is accessible to its target market. If you were to sell a product that will be sold to a poorer economy, it would not make sense to have the price high. Pricing a product or service can be a tedious and tricky job, but it should be done carefully to ensure that it is for the benefit of the business. If pricing had lack of concentration, it could result in driving customers away.

Pricing is actually a communication tool also. Which means saying a number of different things to the customer - "The product is affordable and has good quality", "Pricey, but classy", "Perfect for your budget, but not durable." All of those are communicating to the customer.

In order for you to control the messages sent out to your customers you must plan carefully for the next P in the Marketing Mix.

Promotion: This makes a huge difference in marketing. This simply means pushing your product or service to the prospective customers. Pushing may seem like too strong of a word, but putting it simply means that the business engages the process of making people aware.

The marketing company usually deals with the promotion. Which means word-of-mouth marketing, advertising, point-of-sale and public relations, those are just some of the promotion and communication strategies that can be used within the company. There are also other means of communication such as public relations, which includes sponsorship deals, events marketing, conferences, exhibitions, trade fairs and so on. If your promotion is good, then it can easily drive sales and boost the profit within your business.

The other 'P's' in the Marketing Mix are usually in the backend and have minimal interaction with the intended customers. As for promotion, is usually in the front-end and rises or falls within the response of customers.

Place: Last, but not least the last component of the Marketing Mix is place, which refers to the distribution of the products or services. You could own a restaurant, a shopping mall, a supermarket or a boutique, this would mean that the traffic of people coming to the point of distribution.

Businesses of all sorts have come to realize that people were also important in the Marketing Mix as well as the processes involved in the company and marketing.

Within the Marketing Mix there is a relationship. If marketing was just a transaction process, it would limit the way the business engages with their customers.

Is this your first time hearing of the Marketing Mix? What do you think is the most important part of the Marketing Mix?