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The marketing mix approach to marketing is a model of crafting and implementing marketing strategies. It stresses the "mixing" or blending of various factors in such a way that both organizational and consumer (target markets) objectives are attained. The model was developed by Neil Borden (Borden, N. 1964) who first started using the phrase in 1949. Borden claims the phrase came to him while reading James Culliton's description of the activities of a business executive:

(An executive is) "a mixer of ingredients, who sometimes follows a recipe as he goes along, sometimes adapts a recipe to the ingredients immediately available, and sometimes experiments with or invents ingredients no one else has tried." (Culliton, J. 1948)

When blending the mix elements, marketer(s) must consider their target market. They must understand the wants and needs of the market (customer) then use these mix elements in constructing (formulating)an appropriate marketing strategies and plans that will satisfy these wants. The mix must also meet or exceed the objectives of the organization. As Borden put it, "When building a marketing program to fit the needs of his firm, the marketing manager has to weigh the behavioral forces and then juggle marketing elements in his mix with a keen eye on the resources with which he has to work." (Borden, N. 1964 pg 365) A separate marketing mix is usually crafted for each product offering or for each market segment, depending on the organizational structure of the firm. Borden goes on to suggest a procedure for developing a marketing mix. He claims that you need two sets of information; a list of important elements that go into the mix, and a list of forces that influence these decision variables.

The most common variables used in constructing a marketing mix are price, promotion, product and distribution (also called placement). First suggested by Jerome McCarthy (McCarthy, J. 1960), they are sometimes referred to as the four P's. McCarthy said that marketers have essentially these four variables to use when crafting a marketing strategy and writing a marketing plan. In the long term, all four of the mix variables can be changed, but in the short term it is difficult to modify the product or the distribution channel. Therefore in the short term, marketers are limited to working with only half their tool kit. This limitation underscores the importance of long term strategic planning.

The term marketing mix is used to describe the all the options available to the marketing manager in order to market a particular good or service. It is often referred to as the 4P's i.e. Product, Place, Promotion, and Place .

The Product Variable: This aspect of the marketing mix deals with researching consumers product wants and designing a product with the desired characteristics. This is a very important element of the marketing mix because it directly involves creating products and services that satisfy consumer's needs and wants.

The Place Variable: To satisfy consumers i.e. their needs and wants, products must be available at the right time and in a convenient location. In dealing with the place aspect, a marketing manager seeks to make products available in the quantities desired to as many consumers as possible.

The Promotion Variable: This aspect relates to methods used to inform one or more groups of people about an organization and its products. Promotion can be aimed at increasing public awareness of an organization and of new or existing products. It can also be used to educate consumers about product features or to urge people to take an interest in that product.

The Price Variable: This aspect of the marketing mix relates to the activities associated with establishing pricing policies and determining product prices. Price is a critical component of the marketing mix because consumers are concerned about the value obtained in an exchange.

This marketing strategy is extremely important to the success of a particular good or service which in turn could determine the success of the organization in the future. When marketing managers attempt to develop and manage their product it is extremely important that they look at various different aspects;

1. Those relating to the marketing mix: which the company has control over because they are able to develop their marketing strategies depending on the consumers needs and wants.

2. Those that make up the marketing environment: which include elements that the company has little or no control of e. g. certain government rules and regulations.

3. Market opportunity analysis: this exists when a company is given the chance to take action towards researching a particular group of customers.

4. Target market selection: which involves selecting a group of potential customers for whom a firm creates and maintains a marketing mix that specifically fits the needs and wants of that particular group.

5. Marketing Management: this is the process of planning, organizing, implementing, and controlling marketing activities to facilitate changes effectively and efficiently.

By using this type of marketing strategy organizations are given the opportunity to market a very successful product, so it would be true to say that the marketing mix and its manipulation are vital for the success of a business. However, their good or service may only be successful if the organization provides products that satisfy consumers needs and wants through a coordinated set of activities that also allow the organization to achieve its goals. Customer satisfaction should be the major aim of the marketing concept. But the process does not end here because the organization should continue to alter, adapt and develop products to keep pace with customers changing desires and preferences. Organizations should be aware of the importance of customers and release that marketing activities begin and end with the customer.

In attempting to satisfy customers, businesses must consider not only the short and medium term needs but also the long term desires as it is vital to the long term success of the business and probably the best way to do this would be to link the different departments of the company together i.e. Production, Finance, Accounting, Personnel etc A company adopting this particular marketing strategy must not only satisfy its consumers preferences but it also must achieve the objectives that it hoped to achieve by using this strategy. The best way of achieving your objectives is to satisfy the customer and an adequate marketing mix strategy is an excellent way to satisfy the customer which means that implementing the marketing mix strategy should benefit the organization as well as the consumer…

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