Marketing Mix
Marketing mix is a mix of options and variables that a marketer has to design his proposition. The four Ps, as they are known, of the marketing mix are Product, Price, Place and Promotion. Marketers mix these ingredients and variables in different proportions for their products in order to meet their requirements within their given constraints and boundaries.
Marketing mix covers the four major elements and variables that a marketer has and can manipulate in order to design his offering according to its customers and target market. The marketing mix model of marketing was proposed by Neil Bordon in 1965. Marketing mix is designed separately for each product offering and different market segments for a company. Different proportions are allocated to different mix elements to design an effective marketing mix which meets the objectives of the marketer as well as the consumer.
The four Ps are the critical factors to consider when marketing any product.
Product can either be a good......
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