MANAGEMENT

Detailed explanation-1: -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.

Detailed explanation-2: -The four Ps of marketing is a marketing concept that summarizes the four key factors of any marketing strategy. The four Ps are: product, price, place, and promotion.

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: -The 4P’s make up the typical marketing mix and it includes Product, Place, Price and Promotion.