ENTREPRENEURSHIP

Detailed explanation-1: -Typically, the marketing mix refers to the four Ps: product or service, its price, placement, and promotion. This concept was developed in 1960, when marketing professor E. Jerome McCarthy first published it in a book entitled Basic Marketing: A Managerial Approach.

Detailed explanation-2: -The 4P’s of marketing, also known as the producer-oriented model, have been used by marketers around the world for decades. Created by Jerome McCarthy in 1960, the 4Ps encourages a focus on Product, Price, Promotion and Place.

Detailed explanation-3: -The 4 P’s marketing mix concept (later known as the 7 P’s of marketing) was introduced by Jerome McCarthy in his book: “Basic Marketing: A Managerial Approach".

Detailed explanation-4: -According to Philip Kotler “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”. The controllable variables in this context refer to the 4 ‘P’s [product, price, place (distribution) and promotion].