What is Marketing Mix?
It is a set of factors that can be controlled by a company to influence its market and to purchase its products. There are 4P’S of Marketing Mix- a) Product: A product is an item or a service that can be offered to a customer to satisfy his/her needs. 2 types: Tangible products: These are physical goods that are manufactured by the company to satisfy its customer needs.Intangible products: These are digital products that have no physical shape. Ex- A mobile app, A downloadable document etc. b) Price: The price of a product is the amount that a customer has to pay the company for the product. c) Place: Place is the location where the business is carried out. d) Promotion: Promotion is the communication aspect of marketing.
