A marketing plan includes a number of factors including the marketing mix which of the following defines is the marketing mix
a plan for spending monet
using names and symbols to identify the companys products
how the company intendes for customers to view its product relative to the competition
the variables of product price place and promotion
The marketing mix refers to the variables of product, price, place, and promotion that a company utilizes in their marketing strategy.
The marketing mix defines the variables of product, price, place, and promotion. These variables refer to the strategic elements that a company can control to effectively market its products or services. Product refers to the tangible or intangible offering that the company provides. Price refers to the amount customers are expected to pay for the product. Place refers to the distribution channels and locations where the product is made available to customers. Promotion refers to the activities and strategies used to communicate the value of the product to the target market.
The correct answer is: the variables of product, price, place, and promotion.
The marketing mix refers to the combination of marketing variables or factors that a company uses to achieve its marketing objectives. These variables are commonly referred to as the "Four Ps" of marketing: product, price, place, and promotion.
1. Product: This refers to the actual goods or services a company offers to its customers. It includes factors such as product features, design, quality, branding, packaging, and customer service.
2. Price: This refers to the pricing strategy that a company uses for its products or services. It involves determining the right price that customers are willing to pay while also considering factors like production costs, competition, and desired profit margins.
3. Place: This refers to the distribution channels or methods that a company uses to make its products or services available to customers. It includes decisions related to the selection of retail locations, online platforms, logistics, and inventory management.
4. Promotion: This refers to the marketing activities that a company undertakes to promote its products or services to its target customers. It includes various elements such as advertising, public relations, sales promotions, personal selling, and direct marketing.
By considering and optimizing these four variables, a company can create an effective marketing mix that aligns with its overall marketing objectives and helps in achieving success in the market.