Explain Why The Balance Of The Marketing Mix Is Said To Be More Important Than The Individual Elements?

2

2 Answers

Greg Allen Profile
Greg Allen answered
The four factors that affect the marketing mix are known as the 4Ps. These are:
  • Product
The product that the company is trying to sell can be any size, from screws to ships, and the number that will be produced will be according to the needs of the consumer.
  • Price
The price that the product will be sold for can be increased or decreased at any time.
  • Placement
The location that the product is put up for sale in, including the positioning of the product in that location.
  • Promotion
The promotion of a product is the communication that the company uses to sell the product itself, including advertising and public relations.
All the elements of the marketing mix are important, and it is equally important to make sure that there is a balance when focusing on marketing a product. It is pointless having a wonderful product, correctly priced and located in wonderful locations for sale, if there is no promotion to advertise the product. If this were the case, then not many people would be aware that the product even existed.
Similarly, the product could be marvelously marketed, at the correct price, and be a product that would be popular with the public, but if the placement of the product meant that nobody could find it when they went looking for it, the other three elements would have been performed in vain.
It is vital that all the elements interact with each other, as they all depend on each other. The influence one element has on the others mean that a balance of the marketing mix is vital to the success of the product.
Prakash Kumar Patel Profile
It is important to adjust it acording to your target market. If it is not balanced right your product will not appeal to your target market.

Answer Question

Anonymous