The Marketing Mix

The Marketing Mix is made up from the four P’s:

Product- what the customers want to buy or a service that a company provides for the customer.

Price- must be one that the customer thinks is good value for money. Also it must be the right price to attract the target segment and to incur sales revenue.

Promotion- this is to make potential customers aware of the products existence.

Place- this must be positioned conveniently for the target audience to be able to receive the broadcast.

If I get the four P’s correct then I will hopefully be successful and it will be easier for me to attract customers to listen to my radio station.


The Product

         For any products or service to succeed the product or service should appeal to the customers or consumers. There are various stages that need to be looked at before a product or service can be launched into the market. The stages can be found in the product life cycle. The stages are development, launch, growth, maturity, saturation, decline and withdrawal. Each product or service goes through these stages-but each product or service is individual and they have a unique product life cycle. Within my radio station there are many life cycles, for example the life cycle of the DJ’s and even the music.

My radio station will provide a service and hopefully it will attract a lot of people to listen to it. The main objective of my radio station will be to gain market share. If my radio station has a large market share then the company can charge more for the advertising slots-this would make my radio more profit.

My radio station will need to be able to provide the customer with the information of newly released music, chart news and keep the listener informed with news about London, such as forth coming movies, shows, concerts which I think will cater for my target audience. Also I hope my radio station will have popular DJ’s; this would insure a fan base for the listeners and thus would mean more people would listen to the radio station. But this could prove to be a problem because if the DJ proves to be popular then he or she may demand an increase in wages; this would increase my fixed costs.

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         I will keep a constant check on my competition. I will monitor their progress and use their product life cycle to help me keep me ahead of my competitors. I will also keep a check on my own radio station-adapting it to suit my listeners. This would hopefully keep my listeners loyal to my radio station.


The price in my situation would be the price that I charge the companies who may want to advertise on my radio station. This would vary with the times that their advert would air on my radio station. At times ...

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