MANAGEMENT

Detailed explanation-1: -Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix-Price, Product, Promotion and Place.

Detailed explanation-2: -The term ‘marketing mix’ describes a blending of strategic elements to satisfy specific target markets. Marketing Mix is one of the most commonly used strategies.

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 term ‘marketing mix’ describes: a composite analysis of all environmental factors inside and outside the firm. a series of business decisions that aid in selling a product. the relationship between a firm’s marketing strengths and its business weaknesses.

Detailed explanation-5: -Place refers to where consumers buy your product, or where they discover it. Today’s consumers may learn about products and buy them online, through a smartphone app, at retail locations, or through a sales professional. Price refers to the cost of the product or service.