Marketing consists of strategies and tactics to identify, create, and maintain satisfying relationships with customers in a way that provides value for both customers and the marketer. The marketing mix comprises the controllable elements of the marketing plan, including product, price, place, and promotion. Product involves the goods and services, along with supporting elements. Price considers costs and strategies like premium, penetration, economy, and price skimming pricing. Place refers to distribution channels that move products from manufacturers to consumers. Promotion covers advertising, personal selling, sales promotion, public relations, direct marketing, and sponsorship activities used to promote products to target audiences.