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Q.Briefly explain the four elements of Marketing Mix.

Kerala DhseKerala DHSE Plus Two Commerce Board 2022Subjective· 4mImportance★★★★★
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The four elements of the marketing mix are Product, Price, Place and Promotion — popularly known as the 4 Ps.

The marketing mix is the combination of controllable variables that a firm uses to satisfy its target customers and achieve its marketing objectives:

  • Product — the goods or services offered to satisfy customer needs; it includes decisions on quality, design, features, brand name, packaging, labelling and after-sales service.
  • Price — the amount of money customers pay for the product; it involves decisions on pricing objectives, methods, discounts and credit terms. …

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