In the words of Kotler and Gary (1984; 2008) “The group of controllable variables which an organization can utilize to manipulate the buyer’s response is termed as Marketing Mix”.
Marketing mix comprises the some controllable variables and the most important are product, price, place or distribution and promotion also known as 4P’s (McCarthy, Jerome, 1964; Abrams, 2000). Marketing mix includes the different marketing decision variables being applied by the organization to sell its goods and services more effectively. Having identified the market and collecting all the necessary information regarding it, marketing programming is the next step that is used by the organization that decides the instruments and the strategies to fulfil the requirements of the consumers and compete with the competitors.
Each organization strives to construct such a composition of 4P’s that can generate the highest level of satisfaction among its customers and at the same time achieve its organizational objectives such as targeted revenue, sales volume, market share, ROI i.e. return on investment etc. Hence, these market variables are assembled keeping in mind the requirements of the target customers, the marketing mix varies according to the organization product and service offering, nature, resources and marketing objectives.