The marketing mix, also called the 4 Ps of marketing, is one of the major concepts in marketing. What is it and how is it composed?
The marketing mix is the set of tactical marketing tools that the firm uses to actually implement its marketing strategy. The strategy tells us how the firm want to create customer value, build profitable customer relations, and capture value back in return. The marketing mix consists of the tactical marketing tools used to actually produce the response the company wants in the target market.