ENTREPRENEURSHIP

Detailed explanation-1: -The marketing mix refers to four broad levels of marketing decision, commonly referred to as elements of marketing mix, namely: product, price, place, and promotion. The 4Ps model was created by E. Jerome McCarthy and first published in 1960 in his book ‘Basic Marketing: A Managerial Approach’.

Detailed explanation-2: -In the mid-1960s, Borden published a retrospective article detailing the early history of the marketing mix in which he claims that he was inspired by Culliton’s idea of ‘mixers’, and credits himself with coining the term, ‘marketing mix’.

Detailed explanation-3: -The original marketing mix, or 4 Ps, as originally proposed by marketer and academic Philip Kotler & E. Jerome McCarthy, provides a framework for marketing decision-making.