Marketing Mix Final 2025 Podcast

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The marketing mix. One of the major concepts we spend a lot of time discussing in this class is the marketing mix. As a matter of fact, the last half of this class has to do with the four components that make up the marketing mix. Product, price, place, and promotion. Let's take a look at a couple examples. It took me around five minutes or so to go get some McDonald's. I have to say, the service was fast, and my entire lunch cost $5.99. Now the hamburger was a little on the cold side of things,

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but the fries, coke, and apple pie that I ordered was really good.

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So Rob rated the product a 3 because he thought the burger was a little bit cold. He thought the price was fair, but it cost him a little bit more than expected, so he rated the price a 4. And the promotion got him into the restaurant. So he scored it a five He thought the location was great and he gave McDonald's a five on location. So overall he scored McDonald's marketing mix of four point two five which would be three plus four plus five plus five which equals 17 and then you divide that By four and that will give you four point two five. Let's take a look at another example

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Okay, it only took me five minutes to drive to Subway, but because it's in the city, you have to park on the street. So I have to drive around for ten more minutes just to find a spot. Then I had to dig for change for the meter. I searched the whole car but couldn't find any. Just as I was about to give up, I found a quarter at the bottom of my purse. So when I got in there, I see they are having their famous $5.99 lunch special that includes a full sub, soda, and chips. And I get that to go because I'm worried about the meter. Finally, I get back to the office and I don't know, maybe it's because I was so hungry at this point, everything tasted amazing.

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So Tammy rated the product a 5 because she thought it tasted great and it was a healthy lunch. The promotion got Tammy into the store, so she gave it a 5, and the price was great, so she also rated a 5. She rated the location a 1 because it may prevent her from going there again because it's very difficult to park. So Subway for Tammy had an average score of 4, which would be 5 plus 5 plus 5 plus 1, which equals 16, and then you divide that by 4, and that'll give you a 4. Let's take a look at our summary. So now it's your turn. Evaluate a product or service you recently purchased in the last two weeks. Score all four elements of the marketing mix on a scale of one to five with one being the lowest and five being the highest. What recommendations would you give to the mix to get it closer to a five rating? Post your evaluation of the product or service to the discussion area of this unit and your checklist posting should include your name of the product and score, price of the product and score, promotion of the product and score, place of the product and score, and provide the average after completing product and score, place of the product and score, and provide the average after completing all the scores, and give an explanation of your results.