How can the marketing mix be used to effectively differentiate and position your product or service?© BrainMass Inc. brainmass.com June 3, 2020, 6:06 pm ad1c9bdddf
The marketing mix approach to marketing is one model of crafting and implementing marketing strategies. It stresses the "mixing" of various decision factors in such a way that both organizational and consumer objectives are attained. The most common variables used in constructing a marketing mix are price, promotion, product and distribution (also called placement). Mix coherency refers to how well the components of the mix blend together. A strategy of selling expensive luxury products in discount stores has poor coherency between distribution and product offering.
Defines the characteristics of your product or service that meets the needs of your customers.
Decide on a pricing strategy - do not let it just happen! Even if you decide not to charge for a service (a loss leader), you must realise that this is a ...
This explains the use of marketing mix to effectively differentiate