Page 8 - MARKETING MIX
P. 8
Marketing Mix
Definition
Marketing mix is a set of actions a
business takes to build and market its
product or service to its customers.
Philip Kotler defines marketing mix
as “the set of controllable variables
that the firm can use to influence the
buyer's response.” The four ‘Ps'
[product, pricing, place (distribution),
and promotion] are the controllable
variables in this context.
Credit : https://www.canva.com/design
Importance of Marketing Mix
Helps in determining what your product or service can
provide to your customers.
Helps in determining what your product or service can
provide to your customers.
Helps in the development, implementation, and
evaluation of effective marketing initiatives.
Helps firms in using their strengths while avoiding
unnecessary costs.
Helps in being proactive in the face of threats.
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