- Created by: B3sta
- Created on: 29-01-19 07:19
Marketing mix is a controlled tactical tools that is product, place,price,promotion there are used to market a product this will give direction to the business as it will make the able to identify their product market and generate more profits as customers will be able to get access to the product.
the four p's are place
the business is supposed to identify where they can sell their products without making loses this will help the business expand and generate more profits. and this will help them as the place choosen will be having a high market share for example coca cola will sale its products in Zimbabwe where there is a high make share as there have already gained customer loyalty.
the business is supposed to gain customers satisfication inorder for them to be able to meet their customer expectations.the business is supposed to take note of the changes in taste and preferences inorder for them not to be kicked out of business and maintain their sales.there certain expectations that the customers expect form the business therefore a business is supposed to do market research inorder to meet wat the customers expect from them.however the business is to produce products that will meet the purpose it is intended to.
the business is supposed to set prices taking note of the disposable income of their customers.meaning products are to be at reasonable amounts that the customers can afford the products this can only be done by reducing the production costs.however a business is expected to set prices that will not make them out business.
the business is supposed to set promotions to the customers for example pick n pay ordered customers to buy a grocery for a certain amount inorder to obtain a trollie full of groceries.this will encourage customers to buy their products and they will be generating profits out of it..