BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The marketing mix, also known as the four P’s of marketing, refers to the four key elements of a marketing strategy: product, price, place and promotion.

Detailed explanation-2: -Marketing Mix MCQs Marketing mix is defined as the set of activities or strategies that a company or business uses for promoting its products and services in the market. The 4P’s make up the typical marketing mix and it includes Product, Place, Price and Promotion.

Detailed explanation-3: -The classification of 4Ps for developing an effective marketing strategy was first introduced in the 1960s by E. Jerome McCarthy.

Detailed explanation-4: -A company’s marketing mix is the combination of products, pricing, places and promotions it uses to differentiate itself from the competition. These four elements are commonly referred to as the “four Ps.” There is strong dependency between each of the Ps.

Detailed explanation-5: -The 4Ps make up a typical marketing mix-Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.