Question

What is the marketing mix?

a. The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
b. The statement of the organization's purpose - what it wants to accomplish in the larger environment
c. The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities
d. The set of tactical marketing tools - product, price, place, and promotion - that the firm blends to produce the response it wants in the target market

Answer 1

The marketing mix is the set of tactical marketing tools that a firm uses to achieve desired responses in a target market.

Step-by-step explanation:

The marketing mix refers to the set of tactical marketing tools - product, price, place, and promotion - that a firm combines to achieve the desired response in the target market. It is a key concept in marketing that helps businesses create customer value and establish profitable customer relationships.

For example, when a company develops a new product and determines its price, the channels through which it will be distributed, and the promotional activities to generate awareness and demand, it is utilizing the marketing mix. By carefully blending these elements, companies can effectively reach their target customers and satisfy their needs.