ENTREPRENEURSHIP

Detailed explanation-1: -product, price, promotion and place (distribution)-that the firm blends to produce the desired market response; also called the Four Ps.

Detailed explanation-2: -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. It is also a tool to help marketing planning and execution.

Detailed explanation-3: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.

Detailed explanation-4: -What are 4 elements of a positioning statement? The four basic elements of the brand positioning statement are the target audience, category (common category of the market), differentiation from the competition, and payoff (benefits).