BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Which statement about the marketing mix is true? The primary way that marketers generate value is through decisions on product, price, place, and promotion. These elements are known as the four Ps of the marketing mix.

Detailed explanation-2: -The marketing mix in marketing strategy: Product, price, place and promotion. The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product.

Detailed explanation-3: -Promotion refers to specific and thoughtful advertising that reaches the target market for the product. A company might use an Instagram campaign, a public relations campaign, advertising placement, an email campaign, or some combination of all of these to reach the right audience in the right place.

Detailed explanation-4: -What is the most important part of a marketing mix? Pricing is the most important element of your marketing mix. The price you set for a product or service will significantly influence your potential customers’ choice to purchase it.