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    Importance of Marketing Mix

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    How has one marketing principle or idea affected how you view your role in your
    company, the importance of marketing, or changed how you view marketing in your organization? (MBA LEVEL)

    © BrainMass Inc. brainmass.com December 24, 2021, 5:46 pm ad1c9bdddf

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    Marketing Principle of Marketing Mix

    This is one idea that has influneced me considerably. The marketing mix approach to marketing is one model of creating 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).
    Product: Defines the characteristics of your product or service that meets the needs of your customers.
    Price: Decide on a pricing strategy - do not let it just happen! It means deciding the price which consumer has to pay including discount strructure.
    Promotion: This includes all the weapons in the marketing armoury - advertising, selling, sales promotions, Public Relations, etc.
    Place (or route of distribution): Some of the revolutions in marketing have come about by changing this P. Think of ...

    Solution Summary

    This explains the importance of Marketing Mix