As a budget analyst, youâll be making decisions like these all the time. Instead of managing your own money, though, youâll be working on the budgets of businesses, nonprofits, and government agencies. Budget analysts create, study, and oversee the budgets of organizations.
It is made up of Customer needs and wants (the equivalent of product), Cost (price), Convenience (place) and Communication (promotion). In this article, we focus on the 4Ps model as it is the most well-recognized, and contains the core elements of a good marketing mix.
Today, with marketing more integrated into organizations and with a wider variety of products and markets, some authors have attempted to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix most commonly remains based on the 4 P's.