Definition of Marketing Mix



The marketing mix is a set of action plans used by the company to market its products and services. The proper knowledge of the market, customer needs etc. are essential for the proper marketing strategy development. Marketing mix if used wisely helps businesses grow fast and maintain sustainable growth.

 


Marketing mix strategy has 4P elements which makes a comprehensive marketing plan. 4P’s of the marketing mix are Price, Product, Promotion and Place. Today, there are many other P’s are added up in the marketing mix such as Packaging, Positioning or even Politics etc.

 

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