Marketing Notes - The Marketing Mix
Question - Define the term marketing mix. Explain structure of marketing mix and its elements. Answer The Marketing Mix Summary Introduction to Marketing Mix Definition of Marketing Mix Meaning of Marketing Mix 4P's - Producer-oriented Model 4C's - Consumer-oriented Model Introduction to Marketing Mix Marketing is the process of identifying, anticipating, and satisfying customers' requirements with the purpose to make profits. In this process marketing managers and marketing representatives have to take various marketing decisions to make the operations profitable. They have to decide what combination of marketing policies and procedures be adopted to bring about desired behaviour of trade and consumers at minimum cost. They have to decide how can advertising, personal selling, pricing, packaging, channels, warehousing, and the other elements of marketing be manipulated and mixed to make marketing operations profitab