Tuesday, November 18, 2008

2. Marketing Mix

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The marketing mix was developed to achieve the objective of marketing which is mentioned above; to create value for customers, clients, partners and society at large. It consists of variables which may be manipulated to suit the type of product to be marketed. The most basic form of the marketing mix itself consists of only 4 variables. In this case of the Singapore Biennale, we will use Morrison's (1995) marketing mix of 8 variables; also known as the 8ps. The 8ps are namely, 'Product', 'Place', 'Programming', 'People', 'Partnerships', 'Communications (Promotion)', 'Packaging and Distribution' and lastly 'Pricing'.

Definition from: http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx

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