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Marketing Mix: The term marketing mix is used to describe the all the options available to the marketing manager in order to market a particular good or service. It is often referred to as the 4P's(i.e Product, Place, Promotion, and Place) The Product Variable: This aspect of the marketing mix deals with researching consumers' product wants and designing a product with the desired characteristics. This is a very important element of the marketing mix because it directly involves creating products and services that satisfy consumers' needs and wants. The Place Variable: To satisfy consumers (i.e their needs and wants), products must be available at the right time and in a convenient location. In dealing with the place aspect, a marketing manager seeks to make products available in the quantities desired to as many consumers as possible. The Promotion Variable: This aspect relates to methods used to inform one or more groups of people about...

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