The document discusses the marketing mix, which consists of 7Ps - price, product, promotion, place, people, process, and physical environment. These tools are used by businesses to gain reactions from their target markets in relation to marketing objectives. The traditional 4Ps of price, product, promotion, and place have been expanded to encompass the growth of the service industry. The marketing mix elements must be blended based on factors like marketing objectives, target markets, and competitive landscapes.
