The marketing mix

Once an idea enters the innovation stage, the marketing mix of this idea will have to be considered.

If the customers’ needs are not met, the idea will fail the innovation stage.

The basic marketing mix is made up of five elements, known as the five Ps:

  • price
  • product
  • placement
  • promotion
  • people
Marketing mix bubble chart with branches for 'The 5 Ps'; Price, Product, Promotion, People, Placement.