7 P's of Marketing Mix
Here we study about 7 P’s Marketing Mix (Previously 4 P’s of Marketing Mix), but before studying about 7 P’s of Marketing Mix, let us understand about What is Marketing Mix? Basically, Marketing Mix consists of different combination of factors or elements that an entrepreneur controls to influence or persuade its customers to buy products or services. Why we say 7 P’s of Marketing Mix Since all of these seven factors including in Marketing Mix start from the alphabet “P”, so these are known as 7 P’s of Marketing Mix. Marketing Mix depends on the way the entrepreneur does business. For Example, an entrepreneur can sell the products or services offline or online, sell Homogeneous Products or Heterogeneous Products, etc. Let us now discuss one by one each of these seven factors of Marketing Mix. 1. Product The first factor of Marketing Mix is Product. It has two types: Goods And Services that are offered by an entrepreneur to its ta...