An appropriate marketing mix is necessary to enable an enterprise to meet its goals. Justify for or against, giving reasons.
Answers
Answer:
What Is Marketing Mix?
Businesses have technically always used marketing tools to promote and sell their work, but the term "marketing mix" was coined in the mid-20th century. One of its first uses was in a 1953 address to the American Marketing Association, in which Harvard professor and marketing expert Neil Bordon outlined how marketers develop and execute a successful marketing plan.1
Identifying and arranging the elements of its marketing mix allows a business to make profitable marketing decisions at every level. These decisions help a business:
Develop its strengths and limit its weaknesses
Become more competitive and adaptable in its market
Improve profitable collaboration between departments and partners
Since the 1950s, the elements of marketing mix have undergone various transformations in response to new technologies and other changes in marketing best practices.
Answer:
Helps understand what your product or service can offer to your customers. Helps plan a successful product offering. Helps with planning, developing and executing effective marketing strategies. Helps businesses make use of their strengths and avoid unnecessary costs.