2. Marketing mix The term marketing mix refers to the four major areas of decision making in the marketing process that are blended to obtain the results desired by the organization. The four elements of the marketing mix are sometimes referred to the four Ps of marketing. The marketing mix shapes the role of marketing within all types of organizations, both profit and nonprofit. Marketing managers make numerous decisions based on the elements of the marketing mix, all in an attempt to satisfy the needs and wants of consumers. Although some marketers have added other Ps, such as personnel and packaging, the fundamental dogma of marketing typically identifies the fourPs of the marketing mix as referring to: Product——an object or a service that is mass produced or manufactured on a large scale with a specific volume of nnits. A typical example of a mass produced service is the hotel industry. Typical examples of mass produced objects are the motor car and the disposable razor. Price the amount a customer pays for a product. It is determined by a number of factors including market share, competition, product identity and the customer's perceived value of the product.Place the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Intemet.Promotion- all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements——advertising, public relations, word of mouth and point of sale. Advertising covers any communication that is paid for, from television and cinema commercials, radio and Internet adverts through print media and billboards. Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people speci.fically engaged to create word of mouth momentum. Broadly defined, optimizing the marketing mix is the primary responsibility of marketing. By offering the product with the right combination of the four Ps marketers can improve their results and marketing effectiveness. Making small changes in the marketing mix is typically considered to be a tactical change. Making large changes in any of the four Ps can be considered strategic. For example, a large change in the price, say from $129.00 to $39.00 would be considered a strategic change in the position of the product. However a change of $129.00 to $131.00 would be considered a tactical change, potentially related to a promotional offer.