Marketing mix is easily one of the most well-known marketing terms. More commonly known as
“the four Ps,” the traditional marketing mix refers to the combination of product, price,
promotion, and place (distribution). Each component is controlled by the company, but they are
all affected by factors both internal and external to the company. Additionally, each element of
the marketing mix is impacted by decisions made for the other elements. What this means is
that an alteration of one element in the marketing mix will likely alter the other elements as
well. They are inextricably interrelated. No matter the size of the business or organization, there
will always be a marketing mix.