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Marketing Mix
The concept of the marketing mix focuses on various elements that are crucial for successful marketing strategies. It encompasses the traditional 4 P's—product, price, place, and promotion—
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Marketing Mix LIMITATIONS New Technologye.g. use of internet to start 'viral' campaigns Competitionrival businesses will try to gain sales Costbusiness needs sufficient financial resources Promotionhow the product is communicated to consumers Productcharacteristics of product or service being offered (e.g USPs) 4 P's for SERVICE SECTOR Packaginglook of a product Physical Evidenceallows consumer to make a judgment on organization Processsystems used to deliver product Peopleuse of human capital (employees) Placelocation and distribution channels from which product can be obtained Pricehow much consumer will pay, pricing strategies
