Final answer:
The benefits of a product or service are communicated and delivered by the marketing mix, which encompasses product, price, place, and promotion.
Step-by-step explanation:
Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by the marketing mix. The marketing mix includes product, price, place, and promotion, which are used to communicate and deliver the value of a product to customers. It is a critical concept that is directly linked to a product’s success in the marketplace. By effectively implementing each aspect of the marketing mix, businesses can ensure that the product’s benefits are clearly conveyed and made available to the target audience. Distribution channels are a part of the 'place' aspect of the marketing mix, but they do not alone communicate and deliver product benefits.