GENERAL KNOWLEDGE

Detailed explanation-1: -Product, price, promotion, and place form the four Ps of the marketing mix. These are the key factors that are involved in introducing a product or service to the public.

Detailed explanation-2: -A product mix strategy is a marketing strategy that analyzes the company’s existing products and allocates resources and efforts on product lines and individual products to best promote them to a specific market or audience and in this way to maximize the company’s growth and market share.

Detailed explanation-3: -A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company.

Detailed explanation-4: -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.