Post by juthi52943 on Dec 24, 2023 3:14:27 GMT
You can make changes to the product features prices and possible promotions. As a result by changing the marketing mix and certain characteristics within it you will actually end up with an expanded product portfolio. The marketing mix serves as a guide to improve a business Physical evidence was an important P in the marketing mix of services. If a restaurant or interior design business realizes that it is important then naturally they can act accordingly and improve the physical evidence of their business improving it effectively.
The importance of the marketing mix is obvious if you analyze the four p's that make up the mix. People and processes are also important for the organization and optimizing both can improve the overall functioning of the Job Function Email List organization. Therefore the marketing mix is an excellent guide if someone wants to improve their business and does a GAP analysis. When you analyze the marketing mix of competitors you will be able to identify different methods of differentiation from the competition.
The direct competitor of your business might have weak promotions and by analyzing them you will be able to create better promotions for your own product or service. The competitor could have bad product placement or the wrong process or the wrong people for the market demands. All this can be improved formulating a better marketing mix and therefore obtaining a competitive advantage on the market. The marketing mix helps you to be dynamic A company that is well prepared can always cope with changes brilliantly.
The importance of the marketing mix is obvious if you analyze the four p's that make up the mix. People and processes are also important for the organization and optimizing both can improve the overall functioning of the Job Function Email List organization. Therefore the marketing mix is an excellent guide if someone wants to improve their business and does a GAP analysis. When you analyze the marketing mix of competitors you will be able to identify different methods of differentiation from the competition.
The direct competitor of your business might have weak promotions and by analyzing them you will be able to create better promotions for your own product or service. The competitor could have bad product placement or the wrong process or the wrong people for the market demands. All this can be improved formulating a better marketing mix and therefore obtaining a competitive advantage on the market. The marketing mix helps you to be dynamic A company that is well prepared can always cope with changes brilliantly.