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What is Marketing Mix Product?
It is one of the four P’s of Marketing Mix, and is used for preparing a proper marketing plan. A product may be an item or a service, which can be offered in order to satisfy the requirements of its customers. The product needs to be planned on the basis of buyers’ preferences, other competing products in the market and so on.
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What makes it so essential?
Understanding product marketing is an important part of promotion of products and services. Marketing mix, concerned with products, is vital in determining the function of products and also their appearance. This can help you to address the requirements of consumers through proper market research. Marketers can use the data to reposition their products and make them more palatable for consumers.
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