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What do you mean by marketing mix?

What do you mean by marketing mix?

What do you mean by marketing mix?

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Jeeba Mar. 14, 2018

It is the most effective marketing strategy for the overall competitive marketing. It is the set of controllable marketing variables that the firm blends to produce the response it wants in the target market. The marketing mix is the way of doing that the firm can do to influence the demand for its product.

The main consideration of this strategy is on 4Ps i.e. product, price, place and promotion. An effective marketing program blends all of the marketing mix elements into a coordinated program designed to achieve the company’s marketing objectives by delivering value to consumers. A company trying to keep the prices of new brand of ice creams too low is trying to penetrate the market. In penetration prices are initially kept at relatively low levels. This is done to attract customers. It is expected that the price sensitive customers will switch to the new brand because of the lower price. The strategy helps in increasing market share or sales volume.

What do you mean by marketing mix?

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