Discuss the meaning of marketing mix. Write it importance.

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The marketing mix refers to the four key elements of a successful marketing strategy: product, price, place, and promotion. These elements are interrelated and work together to create a comprehensive marketing strategy that helps companies reach their target market and achieve their marketing goals.

1. Product: The product element of the marketing mix refers to the actual product or service that a company offers. Companies must ensure that their products meet the needs and desires of their target market. They must also differentiate their products from those of their competitors by offering unique features and benefits.

2. Price: The price element of the marketing mix refers to the cost of the product or service. Companies must determine the right price for their product or service based on factors such as production costs, competitor prices, and the value the product offers to the customer. A well-priced product will generate ________ ____________ __________ ______ ____ _____.
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Degree : DIPLOMA PROGRAMMES
Course Name : Diploma in Value Added Products from Fruits & Vegetables
Course Code : DVAPFV
Subject Name : Entrepreneurship and Marketing
Subject Code : BPVI 8
Year : 2023