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Marketing Mix

Marketing mix is the combination of product, price, promotion, and place decisions made by managers to position products and services.

Product involves defining the characteristics of a firm's product or service that meets the needs of customers; Price refers to a firm's pricing strategy; Promotion includes advertising, direct sales activity, sales promotions, and public relations; place has broadened to include physical places for sales activities and the internet. Also, in some businesses the "place" may be a distribution route. Product decisions include brand name and product attributes.

NetMBA states "The term 'marketing mix' became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix.

from http://www.netmba.com/marketing/mix/




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