Elements of Marketing Mix : 4Ps

The tools or ingredients or the variables mixed together by the marketers to interact with a specific market are known as Marketing Mix. It is the essence of any marketing endeavour and is the main building block of the marketing efforts of an organisation. The concept of marketing says that on the side there is the producer or marketer and on the other side there is the customer. The organisation wants to have a transaction with the customers and to do so it has to first develop or produce a product or service, design it, pack it, price it, name it, label it, promote it, and distribute it. Every one of these decisions is the core of a marketing mix, which consists of four elements; viz., Product, Price, Place, and Promotion.