Unit 1 M311 Marketing Mix

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Abstract: Marketing mix is known to have gotten through a series of changes throughout the years. All the business men taking part in the marketing process are looking for profit, which is attainable by selling value. The current marketing concept states that selling value to customers and by creating strong relationships with them is the most efficient way of earning profits (Kotler, 2014). By selling value to customers we understand that the market is trying to fulfill the exact customer’s need with the least of payment. Relationship market is built by PR and means understanding of customer’s needs and wants; it also solves problems so to keep the customer’s satisfaction level at a high peak.

Keywords: marketing mix, market, customer, value, customer relationship

JEL Classification: M31 …show more content…
The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place (McCarthy and Jerome, 1964). Marketing is the process in which the marketer tries to match the demand of the customers, and the latter, to match the asked price in return for the service or good. The most important attribute in marketing is gaining competitive advantage. Competitive advantage is gained through providing the customer with services and products that have additional purposes to the

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