What are the four variables of the marketing mix?

Expert Solution

The four variables of the marketing mix are:

1. Product : In product planning organisation decides whether to introduce a new product or to improve the existing product or what should be the packaging and also focuses on the branding of the the product.

2. Price : In case of pricing the organisation decide what should be the profit margin on a particular product how much should be priced and what should be the different prices at different locations.

3. Place : In place the selection of different distribution channels, the market coverage and the different logistics that to be used for the marketing of a particular product is decided.

4. Promotion : In promotion the strategies of sales and advertising are focused in which the sales are decided whether to be personal selling or through sales promotion and what are the different advertising media channels that should be focused on.

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Rahul Sunny answered 6 months ago

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What are the four variables of the marketing mix?

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