What is the Marketing Mix?
The Marketing Mix is a business tool used in marketing and by marketing professionals. The Marketing Mix is often crucial when determining a product or brand's offering. The variables, such as price, promotion, and service, are managed by an organization to influence demand for a product or a service.
Marketing Mix is referred to as the four Ps: price, product, promotion, and place. In recent times, the concept of four Cs has been introduced as a more customer-driven replacement of four Ps. And there are two four Cs theories today. One is Lauterborn's four Cs (consumer, cost, communication, convenience), another is Shimizu's four Cs (commodity, cost, communication, channel). A marketing mix will use research, technology, and innovation to address the four P's or C's.
Marketing Mix is referred to as the four Ps: price, product, promotion, and place. In recent times, the concept of four Cs has been introduced as a more customer-driven replacement of four Ps. And there are two four Cs theories today. One is Lauterborn's four Cs (consumer, cost, communication, convenience), another is Shimizu's four Cs (commodity, cost, communication, channel). A marketing mix will use research, technology, and innovation to address the four P's or C's.