MANAGEMENT

Detailed explanation-1: -The term “marketing mix” is a foundation model for businesses, historically centered around product, price, place, and promotion (also known as the “4 Ps"). The marketing mix has been defined as the “set of marketing tools that the firm uses to pursue its marketing objectives in the target market".

Detailed explanation-2: -Marketing mix is a set of marketing tools that a firm uses to pursue its marketing objective in the target market.

Detailed explanation-3: -Explanation: The expression ‘marketing mix’ is an established model for organisations, generally based on place, price, product, and promotion. Marketing mix has been characterised as the ‘set of showcasing or marketing tools that the firm uses to seek its advertising goals in the target market’.

Detailed explanation-4: -(Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ” or the combined tools and methodologies used by marketers to achieve their marketing objectives.

Detailed explanation-5: -74) In the marketing mix, product refers to the goods and services the company offers to the target market, while promotion refers to advertising.