The elements of the marketing mix: price, product, promotion and place common mistakes

Common mistakes

• Confusing market share with market growth

  Assuming a product with high market share is always a Star.

  Fix itHigh market share alone does not guarantee high growth; the product must also be in a high‑growth market to be a Star.

• Confusing advertising with PR

  Assuming that all paid media is advertising and all earned media is PR.

  Fix itPaid media is advertising; earned media, such as news coverage or influencer mentions, is PR. Clarify the source and control of the message.

• Assuming all promotional methods reach the same audience

  Believing that a single promotional method will be effective across all market segments.

  Fix itDifferent methods target different audiences; choose methods that align with the characteristics and media habits of each segment.

• Assuming all promotional tools are equally effective

  Believing that television, social media, print and direct mail will all reach the target market with the same impact.

  Fix itEach tool has a different reach, cost, and level of consumer engagement. Effectiveness depends on the target market’s media habits, the product’s complexity, and the budget available.

• Confusing promotion with advertising

  Assuming all promotions are advertising campaigns.

  Fix itPromotion includes a broader range of activities beyond advertising, such as sales promotions, public relations, personal selling and direct marketing.

• Assuming wholesalers sell directly to consumers

  Many students think wholesalers sell to end customers.

  Fix itWholesalers sell to retailers or other businesses; they do not typically sell directly to consumers.

• Assuming direct distribution is always cheaper

  Thinking that selling directly to customers will reduce costs.

  Fix itDirect distribution can increase logistics, customer service, and marketing costs. It is cheaper only when the business has the capacity to manage these functions efficiently.

• Confusing e‑commerce with m‑commerce

  Assuming that e‑commerce and m‑commerce are the same and that a desktop website automatically covers mobile customers.

  Fix itE‑commerce is the broader online trading activity, while m‑commerce specifically targets mobile devices. A mobile‑optimised site or app is required to fully capture mobile traffic.

• Assuming m‑commerce always reduces costs

  M‑commerce always lowers operational costs.

  Fix itWhile m‑commerce can reduce some costs, it also introduces new expenses such as app development, maintenance, and security.

• Overemphasising price

  Students think that setting a low price alone guarantees sales.

  Fix itPrice must be considered alongside product quality, promotion and distribution; a low price can undermine perceived value if not supported by the other elements.