The Marketing Mix Model

The Marketing Mix

The term marketing mix is used to indicate the integration of several variables to satisfy consumer needs. The task of the marketing manager is to form these variables into a marketing mix that meets the needs of each consumer group or market segment targeted by the property.

What makes up the marketing mix?

The most widely used model of the marketing mix is the familiar "Four P's" set forth by E. J. McCarthy in his classic Basic Marketing. This model can be represented by three concentric circles (see Exhibit ):

1. The innermost circle contains the focal point of the marketing effort-the consumer.
2. The middle circle illustrates the marketing mix of product place, promotion, and price (the Four P's ). These are termed controllable variables.
3. The outer circle identifies uncontrollable variables such as the economic environment, political and legal influences, and the social and cultural environment.

Exhibit  Marketing Mix Model

Marketing mix

This Basic marketing mix model for the hospitality industry contains the "Four P's" (product, place, promotion, and price) set forth by E. J. McCarthy in his classic book, Basic Marketing.