What is Marketing Mix?

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Accepted Answer

Marketing Mix refers to the set of tactics or tools used by a company to promote its products or services to its target market.

Marketing Mix consists of 4 Ps - Product, Price, Place, and Promotion.
Product refers to the goods or services offered by the company.
Price refers to the amount charged for the product or service.
Place refers to the distribution channels used to make the product or service available to the customer.
Promotion refers to the various marketing activities used to create awareness and interest in the product or service.
Marketing Mix helps companies to create a successful marketing strategy by balancing the 4 Ps.
For example, a company may use a high price strategy for a luxury product, while using a low price strategy for a budget product.
Marketing Mix is an important concept in marketing and is used by companies of all sizes and industries.

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