The term marketing mix is referred to the amalgamation and use of the four P’s of marketing in a manner so as to attain the highest level.

PRODUCT: It is the thing possessing utility. It is the bundle of value the marketer offers to potentialcustomers. Today manufacturers are realizing that customer expects more than just the basic product.Therefore the product must satisfy the consumers needs. The manufacturer first understands the consumerneeds and then decides the type, shape, design ,brand, package etc. of the goods to be produced. Theproduct is a marketer’s primary vehicle for delivering customer satisfaction.PRICE: it is the amount of money asked in exchange for product. It must be reasonable so as to enable theconsumer to pay for the product. While fixing the price of a product, the management considers certainfactors such as cost, ability of the consumers, competition, discount, allowances, margin of profit etc.PLACE (PHYSICAL DISTRIBUTION): It is the delivery of products at the right time and at the right place. Itis the combination of decision regarding channel of distribution (wholesalers, retailers etc. ),transportation, warehousing and inventory control.PROMOTION: It consist of all activities aimed at inducing and motivating customers to buy the product.The selection of alternatives determine the success of marketing efforts. Some firms use advertising,some others personal selling or sales promotion. Thus promotion includes advertising public relations,personal selling and sales promotion.Recently Packaging and People are two more elements of marketing mix that have been emerged

The theory of four P's according to me is limited to the books.. business is a Practical mechanism.

here the basic intention is the profit. The cash inflow and outflow monitoring the working capital ,a person should follow the four P's amalgamation to the intention of maximizing Profit. Ultimate goal of business is PROFIT.  if not exit the market 

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.

Thanks for the invitation

Good question

Agreed with both answers given by

Mr.:Vrindavan & Mr.: Al yazouri as well too

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.

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).

In2012, a new four P's theory was proposed with people, processes, programs, and performance.

agree with the answer given by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN