Marshmallow and SerializerMixin are used for data serialization in Python to convert model instances into JSON-friendly dictionaries.
SerializerMixin is simple and fast, suitable for prototyping or debugging, but can become messy when dealing with relationships or custom outputs.
Marshmallow allows developers to define schemas for explicit control over JSON serialization, providing features like automatic field generation, validation, and support for nested relationships.
For applications with complex data structures or specific needs, Marshmallow is a better option as it separates serialization logic from model logic and offers a consistent, readable structure.