The selection of a target market leads the marketers to focus their activities towards profitability of the target segment. For this purpose, they need to manipulate many variables. Such variables were named marketing mix. The term marketing mix was first of all used by Neil Borden, in his American Marketing Association presidential address in 1953. However, E. Jerome McCarthy proposed a classification of marketing mix in four areas viz. Product, Price, Place & Promotion.
Marketing is an ongoing process of planning and executing the marketing mix (Product, Price, Place, and Promotion) for products, services or ideas to create exchange between individuals and organizations. Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers' future needs and wants, which are often discovered through market research. Essentially, marketing is the process of creating or directing an organization to be successful in selling a product or service that people not only desire, but are willing to buy. Therefore good marketing must be able to create a "proposition" or set of benefits for the end customer that delivers value through products or services.
Marketing mix is the set of marketing tools that a firm uses to pursue its marketing objectives in the target market.