Business can refer to a particular organization or to an entire market sector, e.g. the music business. Compound forms such as agribusiness represent subsets of the word's broader meaning, which encompasses all activity by suppliers of goods and services.
What exactly is marketing mix modeling? The term is widely used and applied indiscriminately to a broad range of marketing models used to evaluate different components of marketing plans, such as advertising, promotion, packaging, media weight levels, sales force numbers, etc.
Marketing is a broad business function that includes product research and development, merchandising and distribution processes and pricing, as well as communication or promotion. The communication mix refers to specific methods used to promote the company or its products to targeted customers. Some depictions of the promotional mix include five elements, while others add a sixth -- event sponsorship.