7 P's of Marketing Mix

Here we study about 7 Pās Marketing Mix (Previously 4 Pās of Marketing Mix), but before studying about 7 Pās 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 Pās of Marketing Mix Since all of these seven factors including in Marketing Mix start from the alphabet āPā, so these are known as 7 Pās 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...