MANAGEMENT

Detailed explanation-1: -The last element of the marketing mix is the place. Also called placement or distribution, this is the process and methods used to bring the product or service to the consumer.

Detailed explanation-2: -Consumer wants and needs, which correspond to the product in the marketing mix. Cost, which corresponds to the price in the marketing mix. Convenience to buy, which corresponds to the place in the marketing mix. Communication, which corresponds to the promotion in the marketing mix.

Detailed explanation-3: -Price: The amount of money paid by customers to purchase the product. Place (or distribution): The activities that make the product available to consumers. Promotion: The activities that communicate the product’s features and benefits and persuade customers to purchase the product.

Detailed explanation-4: -Place mix or distribution mix is an arrangement of channels, both physical and non-physical, through which the product is made available to customers for purchase. It is the set of decisions a company undertakes to make the product accessible to its target customers conveniently in the most cost-efficient manner.