Question

What is the importance of marketing mix?

Answer 1

The marketing mix is important for the business in the following ways:

1. It helps in understanding what kind of value the product or services offers to the customers.
2. Helps in planning a successful product launch.
3. Helps in formulation, development and execution of effective marketing strategies.
4. Helps in the effective use of resources and avoids unnecessary costs.

Also read:

• Marketing Philosophies
• What Is Promotion
• MCQs on Marketing Mix
• What Is the Difference Between Selling and Marketing
• Marketing Mix
• What Is Sales Promotion

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