GDP growth is projected to ease slightly to an average of 4.9% over 2024-2026 from 5% this year as the commodity boom loses steam. Private consumption is anticipated to be the primary driver of growth in 2024. Business investment and public spending are also expected to pick up as a result of reforms and new government projects. The marketing environment is the combination of the microenvironment and macro environment. According to Philip Kotler, "A company's marketing environment consists of the internal factors & forces, which affect the company's ability to develop & maintain successful transactions & relationships with the company's target customers.". Elements of Marketing Mix- the 4 Ps. Now let us discuss the four fundamental elements of the marketing mix which are the Product, Pricing, Promotion, and Place. 1. Product. A product is the heart of the marketing mix. All marketing activities begin with the product. The product is not a physical entity alone; it captures the whole tangible and The marketing mix, on the other hand, refers to a combination of effective actions or tactics that a company utilizes in order to promote its products and services in the market. Marketing mix contains numerous areas of importance as part of an inclusive marketing plan. Marketing Mix combines several aspects of business and marketers need to However, 5 steps in the elements of the marketing process for the customers involved in the framework which are as follows: Understanding customers need, want and marketplace. Marketing strategy with a customer-driven design. An integrated plan for marketing with superior value. Profitable. A successful marketing strategy is composed of five key elements that work together to achieve a company's goals. These elements include identifying the target audience, developing a unique value proposition, creating a strong brand image, implementing effective communication channels, and continuously analyzing and adjusting the strategy based on results. .

what are the elements of marketing