Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
List and briefly describe the elements of the marketing mix. Provide an example for each element.
Expert Solution
Step 1
In today's competitive business scenario, marketing strategies provide various alternatives to companies to promote their products or services to prospective customers. A marketing mix is a business strategy that helps a financial institution such as a bank or any lending institution to penetrate or expand in the target market. A marketing mix comprises of 4 Ps. The 4 P's denote Product, Price, Place, and Promotion.
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