Marketing Mix
Definition of Marketing Mix as it relates to Business, Competitive Analysis, Business Industry Analysis
Marketing Mix, also known as the 4 P's (Product, Price, Place, Promotion), refers to the strategic blend of decisions and actions that a business takes in order to effectively market its products or services. It is a key component of competitive and industry analysis, as it allows businesses to understand and address the specific needs and wants of their target market. The marketing mix helps businesses to position themselves effectively within their industry, and to create and communicate value to their customers. By carefully managing the 4 P's, businesses can increase brand awareness, drive sales, and ultimately achieve their strategic objectives.
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