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What is the Concept of Marketing Mix

A Concept of marketing mix can be defined as a set of strategies of actions that a company uses to push its products to market. It is known as a marketing mix because it consists of four different elements which have to be implemented together to get positive results.

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What is the Concept of Marketing Mix

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  1. What is the Concept of Marketing Mix? www.skillcircle.in

  2. A Concept of the marketing mix can be defined as a set of strategies of actions that a company uses to push its products to market. It is known as a marketing mix because it consists of four different elements which have to be implemented together to get positive results. skillcircle.in

  3. The Product The product is either a tangible good or an intangible service that appears to satisfy a specific customer’s need or demand. All products follow a logical product life cycle and it is important for marketers to understand and plan for the different stages and their unique challenges. skillcircle.in

  4. THE PRICE Price covers the actual amount that the end- user is expected to pay for a product. How a product is priced will directly affect how it sells. It is linked to the perceived value of the product to the customer rather than the objective cost of the product on offer. If the price of a product is higher or lower than its stated value, it will not sell. skillcircle.in

  5. THE PROMOTION Marketing communication strategies and techniques all fall under the heading of promotional. These may include advertising, sales promotions, special offers, and public relations. Whatever the channel uses, it needs to be appropriate for the product, price, and end-user for which it is being marketed. It is important to differentiate between marketing and promotion. Promotion is the communication aspect of the entire marketing function. skillcircle.in

  6. The Place Location or placement is concerned with how the product will be delivered to the customer. Distribution is a key element of placement. The placement strategy will help in assessing which channel is best suited for a product. How a product is accessed by the end-user must also compliment the rest of the product strategy. skillcircle.in

  7. Thank You For watching Us 9899140180 hi@skillcircle.in www.skillcircle.in H 11-A 2nd floor Connaught Place, New Delhi, Delhi 110001

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