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price.
While pricing a product is considered the most flexible variable, DISTRIBUTION is considered the least flexible of marketing mix decisions, as establishing contractual relationships is difficult if not impossible to change, as well as if distribution is not managed efficiently, a competitor may evolve to create a more effective distribution system.
How the elements of marketing mix are implemented
One of the most important parts or elements in Marketing is missing in the Marketing Mix. It's targeting or "People, in the Nine P's of Marketing. The Marketing Mix includes Product, Price, Promotion and Place but does not include "People" or Targeting. Add STP and you have Segmentation, Targeting and Positioning.
The four elements of the marketing mix are price, promotion, product, and place. All of them must be geared toward the target market.
price.
While pricing a product is considered the most flexible variable, DISTRIBUTION is considered the least flexible of marketing mix decisions, as establishing contractual relationships is difficult if not impossible to change, as well as if distribution is not managed efficiently, a competitor may evolve to create a more effective distribution system.
How the elements of marketing mix are implemented
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This Concept relates to the issue of dividing the marketing budget optimally over the elements of marketing mix
One of the most important parts or elements in Marketing is missing in the Marketing Mix. It's targeting or "People, in the Nine P's of Marketing. The Marketing Mix includes Product, Price, Promotion and Place but does not include "People" or Targeting. Add STP and you have Segmentation, Targeting and Positioning.
The four elements of the marketing mix are price, promotion, product, and place. All of them must be geared toward the target market.
well in case of services there are three additional elements which are- process, physical environment and people. So there are 7 ps in case of marketing mix of services.
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A marketing mix is a planned mix-up of the product's marketing plan which includes: place, promotion, product and price. These elements are adjusted until just the right combination is found. It must meet customer needs and generate the maximum income.
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