Studied by 0 people
The interaction between the elements of the marketing mix is crucial for…
the success of any marketing campaign
A change in one element can have a…
significant impact on others
The marketing mix will change as…
a product moves through different stafes of its product life cycle
How changes to the product can change the entire mix
The core of the marketing mix as its what the customers is buying and all other elements are based on it. If the product changes then all other elements of the mix will likely need to change
How changes to the price can change the entire mix
Closely linked to its percieved brand value. If a product is priced too high it may be perceived as too expensive by the target audeience, leading to lower sales. If a product is priced too low it may be perceived as low quality, leading to lower sales. Increasing the price may require changes to the promotion strategy, which are aimed at convincing consumers of the product value.
How changes to the promotion can change the entire mix
The promotion strategy can affect the price and distribution channels
How changes to the place can change the entire mix
The distribution/sales channel can affect the price and promotion strategy
