What you’ll learn to do: explain the marketing mix

The value proposition explains why a consumer should buy a product or use a service and how the product or service will add more value, or better solve a problem, than other similar offerings. Once you get the value proposition right, you still have to actually deliver value to your target customer. The marketing mix describes the tools that marketers use to create value for customers.

The specific things you’ll learn in this section include the following:

• Define price
• Define product
• Define promotion
• Define place
• Give examples of the marketing mix
• Evaluate how marketing strategies align with corporate strategies