Marketing mix in developing countries: an overview

The marketing mix is a business tool used in marketing and by marketing professionals. It is one of the most famous marketing terms. The marketing mix is often crucial when determining a product or brand's offering, and is often synonymous with the four Ps; price, product, promotion, and place. The four elements of marketing mix are co-equal, inter-dependent and essential. The marketing mix acts as the integrated marketing strategy and the four elements together constitute the marketing strategy. Individually the four elements are important but their significance lies in the proper mix or blend indicating the unique way they are combined as a careful plan, or strategy, to meet competition in dynamic marketing environment. For one market segment we have a typical marketing mix. The decisions on the elements of marketing mix must be properly co-ordinate and balanced in order to achieve an optimum marketing mix.