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Fully agree with Mr. Vinod's answer
The term "marketing-mix," was first coined by Neil Borden, the president of the American Marketing Association in1953. It is still used today to make important decisions that lead to the execution of a marketing plan. The various approaches that are used have evolved over time, especially with the increased use of technology.
The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place. In service marketing, however, the four Ps are expanded to the seven P's or Seven P's to address the different nature of services.
Meaning of Marketing Mix : A planned mix of the controllable elements of a product marketing plan commonly termed as4Ps: product, price, place, and promotions.These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income.
Definition of Marketing Mix : The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.
Affecting factors of Marketing mix in the Marketing Segment : All the elements of the marketing mix influence each other. They make up the business plan for a company and handled right, can give it great success. But handled wrong and the business could take years to recover. The marketing mix needs a lot of understanding, market research and consultation with several people, from users to trade to manufacturing and several others.
Place and Price are two factors of Marketing are affecting in the market segmentation process.
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Full Agree with Answer Given By MR. Vinod Jetley
The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place.In service marketing, however, the four Ps are expanded to the seven P'sor Seven P's to address the different nature of services.In the1990s, the concept of four C's was introduced as a more customer-driven replacement of four P's. There are two theories based on four Cs: Lauterborn's four Cs (consumer, cost, communication, convenience), and Shimizu's four Cs (commodity, cost, communication, channel).
The Marketing Mix is often crucial when determining a product or brands offer with the four P's ;Price, Place, Product and Promotion, these factors provides a good framework for identifying the best customer segment.
the ingredients that go into a marketing program
product , price , place , and promotion
the factors that effect on marketing mix :
price
brand name
convenience
package
store surroundings
service
internet access
buyer's past experience
Guarantee
speed of delivery
image created by advertising
reputation of producer
product life cycle
cost
logistics
promotion
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