Question & Answer: Marketing mix consists of four Ps such as product, price, place and promotion. From your point of view,…

Expert Answer

I THINK , 4 ps like product , price, place and promotion are enough for marketing strategy in order to be sucess. Marketing mix provide choices available to the company or organisation regarding the promotion or marketing of its product and services..

Advantages of marketing mix——-

1. Marketing mix gives organisation a standard for allocating resources.it also help the company to plan their marketing based on selected crieteria and also help them effectivly to implement their strategy.

2.It also provide company various marketing concept ,so that company can find out best way to alloacate their resources.

3.It help the company to plan their budget for the marketing process and to allocate their funds accordingly.

4.With the help of marketing mix company can implement the best marketing plan to satisfy their customer needs through various marketing research.

5.Marketing mix allows company to promote their product and services in their selected places.

6. It provide valuable guide to the resource allocation.

7.Marketing mix not only maximize customer satisfaction but on the other hand also increases profit of the firm.

8. Marketing mix has combination of factors like product, price, promotion, and place that influence customer desicion to buy the product

9. marketing mix is important as it maximize cmpany chances of continious sucess in its perations.

10. Marketing mix also ensures that company always responsible to oits customers.