Marketing Mix is a particular blend of controllable marketing variables that a firm uses to realize/obtain its objectives in the target market.The elements or variables of the marketing mix are commonly referred to as the 4Ps which include Product, Price, Place and Promotion.It must be stressed that all marketing activities revolves around them and they are mutually dependent and they are never in isolation.
PRODUCT: is anything tangible or intangible that can be offered to the market for attention, acquisitional yields and or consumption, that might satisfy a need. It incluses pgysical products, services, ideas e.t.cPRICE: is a tool used to test the pulse of the market. From the consumers point of view, price is a measure of quality of a product. It is the only marketing mix that generates revenue and it is from the revenue, profit is derived.PROMOTION: refers to the method producers uses to communicate favourable information about their products to existing and potential customers. It can be carried out in five (5) ways: advertising, public relation, sales promotion, personal selling and publication.PLACE: has to do with all activities designed to make product accessible to the customers i.e. It is the channel of distribution through which goods moves from the producer to the final consumer.
PRODUCT: is anything tangible or intangible that can be offered to the market for attention, acquisitional yields and or consumption, that might satisfy a need. It incluses pgysical products, services, ideas e.t.cPRICE: is a tool used to test the pulse of the market. From the consumers point of view, price is a measure of quality of a product. It is the only marketing mix that generates revenue and it is from the revenue, profit is derived.PROMOTION: refers to the method producers uses to communicate favourable information about their products to existing and potential customers. It can be carried out in five (5) ways: advertising, public relation, sales promotion, personal selling and publication.PLACE: has to do with all activities designed to make product accessible to the customers i.e. It is the channel of distribution through which goods moves from the producer to the final consumer.
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