Marketing MixThe "Marketing Mix" is a term used to describe the combination of tactics used by a company to achieve its objectives by marketing its products or services effectively to the customer. It is also known as the 4 P's product, price, promotion and place. The marketing mix is ​​also known as the "7 P's", when you add people, process and physical evidence to the first four. The importance of the marketing mix is ​​for companies to ensure that they are also marketing the right product. right person a The right price ino The right place e ato The right time (The Chartered Institute of Marketing, 2004) The mix of the 4 Ps must reflect the needs and desires of consumers in the target market. Marketing is about identifying, anticipating and satisfying customer needs. This is so we can get the right product or service. When you have the product or service, ask the customer what they think about it. Ask them if they are satisfied with the quality and any support services provided. Customer needs must be met. When tracking products we should analyze the profitability of each product or service. Check and find out which products/services make the biggest contribution or provide the highest profitability. Are support services offered with some products? “Place” is the means of distribution selected, depending on the type of product or service being marketed. The choice will impact pricing and promotion decisions. We must ask ourselves: are the customers of products and services consumers or businesses? If they are consumers, we have three main options. First, are we selling to wholesalers who will sell to retail outlets who will sell to the consumer?... middle of the paper... awesome. Corridors free from clutter, large and tidy displays and a wide variety of goods available. Target has used the marketing mix very well and this is demonstrated by the annual increase in sales. The continuation of marketing will be vital especially with the ever-changing trends of our times. References: Donation, Scott, It's time to take a fresh look at the definition of marketing. Advertising age: 02/23/2004, Vol.75 number 8, p16-16, ½ p. No author, 10 minute guide, Chartered Institute of Marketing (2004) Retrieved 01/27/2007 from: www.com. co.wk.No Author, Marketing Mix, 4 Ps, retrieved 01/21/2007 from http://www.answers.com/topic/marketingBibliography: I am a 50 year old lady pursuing my degree in business. They say it's never too late. Due to early medical conditions I started my college late, but I am pursuing it full of energy.