Marketing mix: In general concept, Marketing Mix is a planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers while generating optimum income. Sometimes the first P (Product) is substituted by the presentation. It is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. Sometimes the first P (Product) is substituted by presentation. Read more: http://www.businessdictionary.co...