Marketing mix refers to two things:
(i) A list of important elements or ingredients that make up the marketing programme and
(ii) The list of forces having bearing on marketing operations.
Elements of marketing of mix :
(i) Product : Product is the main element of marketing. Without a product, there can be no marketing.
(ii) Price: Price is the value of a product expressed in monetary terms. It is the amount charged for the product.

Factors affecting price of the product/service.
(a) Internal Factors:
(i) Marketing objectives
(ii) Marketing Mix strategy
(iii) Organisational considerations
(iv) Costs
(v) Organisation objectives
(b) External Factors:
(vi) The market and demand
(vii) Competition
(viii) Customers
(ix) Suppliers
(x) Legal factors
(xi) Regulatory factors

Marketing Concepts:
(i) What I can sell?
    Make what you can sell, but do not try to sell what you can make.
(ii) Shall I first create Products?
     No, first create a customer, Then Create Products.
(iii) Shall I love my Products?
      No, love your customers and not the Products.
(iv) Who is Supreme in Markets?
      Customer is Supreme or King.
(v) Who will shape my Decisions?
      Customer's preferences shape your decisions.

The following are the objectives of marketing :
(i) Intelligent and capable application of modern marketing policies.
(ii) To develop the marketing field.
(iii) To develop guiding policies and their implementation for a good result.
(iv) To suggest solutions by studying the problems relating to marketing.
(v) To find sources for further information concerning the market problems.
(vi) To revive existing marketing function, if shortcomings are found.