To meet needs of its customers, every organization seeks a distinctive marketing mix.
This is often referred to as 4Ps. It involves focusing on:
• Product – the specific features and benefits of the product.
• Place – where and how the product is sold.
• Price – setting the ring price in each market.
• Promotion – using the most suitable form of promotion to reach customers.
For example, the marketing mix for Red Bull Energy Drink is based around:
• A distinctive product-the taste of the product is unlike any other, it also has a functional effect in comparison to other soft drinks.
• It is easy to obtain as it is sold in a variety of places – including retail outlets and food and drink establishments.