Question

What are the components of marketing mix?

Answer 1

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It is made up of Customer needs and wants (the equivalent of product), Cost (price), Convenience (place), and Communication (promotion). In this article, we focus on the 4Ps model as it is the most well-recognized, and contains the core elements of a good marketing mix.

Answer 2

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.