Title: Definition, Role and Value of the Marketing Function MKT 421

Abstract
The marketing mix of an organization consists of four different elements, product, price, place and promotion. Product is the overall entity that the organization has at hand and which it requires to sell in the market. Price is the kind of price range the organization is looking at to be feasibly realized from the target market in return for the product. Place is the target market where the product can be sold. Promotion is the message, about the product, which the organization conveys among the target audience for building a recall value of the product. Successful promotional s…