The marketing mix has been described as
a. groups of people or organizations sharing one or
more characteristics that cause them to have similar
product needs.
b. product, place, promotion, and pricing strategies
intended to bring about a mutually satisfying
exchange relationship with a market.
c. a principle that holds that 20 percent of all
customers generate 80 percent of the demand for a
product.
d. the steps involved in segmenting a market based on
the characteristics of individuals, groups, or
organizations.
Answer: b. product, place, promotion, and pricing strategies intended to bring about a mutually satisfying exchange relationship with a market.