Marketing mix consists of product, price, place, and promotion from "summary" of Principles of Marketing by Dr. Pardeep Kumar
The marketing mix is a concept that encompasses the four Ps: product, price, place, and promotion. These elements are essential for the successful marketing of any product or service. The product aspect of the marketing mix refers to the actual offering being sold to customers. This includes not only the physical product itself but also any accompanying services or warranties. It is crucial for marketers to understand the features and benefits of their product in order to effectively communicate its value to consumers. Price is another key component of the marketing mix. Setting the right price for a product is essential for achieving profitability and attracting customers. Marketers must consider factors such as production costs, competitive pricing, and consumer...
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