Marketing Mix: The combination of four elements-product, price, place & promotion used to satisfy the needs of the target market. 

4 p’c of marketing mix 

Product: A product can be a good, a service or an idea. Manufacturing a product ( creating from utility) is a production function. 

Price: Once a firm develops a product it must set a price. Pricing requires crucial decision making because price is very visible to the consumer & is closely tied to a company’s profit. 

Place: Even a terrific product priced right can fail if it is not available in the right place where & when the customer wants it. 

Promotion: Promotion consists of advertising, personal selling, sales promotion & publicity, informs or reminds the target market about a product & tries to persuade consumers to buy or adopt it. 

4 c’s of marketing mix

Customer Solution: A customer solution is all about handles customer inquiries, issues & complaints to ensure high customer satisfaction for the company. 

Customer Cost: For the customer, price is not only one part of total cost of a product. The customer has the additional costs of transportation, usage & eventually disposal of the product. Together these costs are referred to as the total customer cost. 

Convenience: It is any element of customer experience that saves the customer’s time & effort. It is common for products, services, environments & process to be designed to offer convenience. 

Communication: It is a customer oriented approach to the task of selling products. It requires interaction between buyers & sellers.