Importance of marketing mix in formulation of marketing strategy
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Economy. An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents. ... Economic activity is spurred by production which uses natural resources, labor, and capital.
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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.
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