Marketing mix is a fundamental business tool that outlines the four key components of any product or service: product, price, promotion and place. Acting as a shortcut, the marketing mix allows marketers to easier envision an optimal brand’s offering. The framework was originally coined in the 1960’s by a marketer by the name of E. Jerome McCarthy and since then became popular and has been used throughout the world. Marketing Mix diagram. This is one of the top business frameworks encompassing strategy, project management, IT, internal processes and client experience.
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