The concept of the marketing mix is central to both the positive microeconomic analysis of the typical modern industrial or service firm, the oligopolistic seller, and to the normative managerial analysis of the marketing function. The firm is seen as influencing the demand for its brand (which is one of several being sold in a product market) by any one of the four instruments of marketing policy: price, product quality, promotion (communication with customers either by advertising or personal selling or both), and the choice of distribution channels. The fundamental question is: how do, or should, sellers optimize the input levels of the instruments to attain maximum profits?

Kristian S. Palda

Papers

The Marketing Mix and Brand Quality