What role does the marketing mix play in target marketing?
Hereof, what is the role of marketing mix?
Traditionally, four Ps are associated with the marketing mix -- product, price, promotion and place. The marketing mix's importance lies in its ability to help a business determine the suitability of a product or service for a particular target consumer base.
Also, why product is important in marketing mix? The product is the most important element of the marketing mix. Developing a total marketing programme involve the marketing manager arming himself with the 4p's of the marketing mix, i.e. product, place (distribution), pricing, and promotion. The aim of the product is to satisfy the need and desire of the customer.
Similarly, you may ask, why is 4ps important in marketing?
The 4Ps of marketing is a model for enhancing the components of your "marketing mix" – the way in which you take a new product or service to market. It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.
What is the role of advertising in marketing mix?
The Role of Advertising in the Marketing Mix Organizations create marketing strategies by carefully developing the product and its packaging, figuring out the right price the consumer wants to pay, deciding on the best location to sell the product and promoting the product through a number of mediums.