Marketing Mix

... Principles of Marketing Coursework: The Marketing Mix Sumeera Noreen 07815383 The marketing mix, or the 4Ps as it is most commonly known as, is a "set of controllable tactical marketing tools...that the firm blends to produce the response it wants in the target market." (Kotler et al, 1994, p.48) It consists of four major elements: product, price, promotion and place, which are used in order to satisfy the customers in the marketplace. Getting the mix of the four elements right is crucial in order to successfully market a product. The concept of the marketing mix was first introduced by Borden in 1965, which originally included twelve variables of marketing. McCarthy reduced the model to four elements, that is the 4Ps. These four variables are interrelated; decisions in one area will affect decisions in another. "Marketing mix variables are often viewed as controllable variables because they can be changed. However, there are limits to how much

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