What is the Importance of Marketing Mix and why are the 4 P's important? It helps in a clean mix creation. Your marketing mix should have all the P's compatible with each other. ... Marketing mix helps in New product development. While designing an existing product, there are any number of ideas which can come up for a related product that can be ... Marketing mix helps increase the product portfolio. ... More items...What are the elements of marketing mix?
The elements of marketing mix are often called the four P’s of marketing. Product Goods manufactured by organizations for the end-users are called products. Products can be of two types - Tangible Product and Intangible Product (Services) An individual can see, touch and feel tangible products as compared to intangible products.What is marketing mix strategy?
Marketing mix is a strategy that has been formulated after taking into consideration the 4P's of marketing: product, price, place and promotion. Marketers have to use a combination of these P's to steer their firms towards success.