Peoples, process & physical evidence also affecting the marketing mix

There are 4 factors affecting the marketing mix, and these are known as the 4Ps. The 4Ps are: • Product The product is the item that is produced on a scale that befits the organization. This product can be mass-produced and the volume is always a specific number. The product can be a service, and … Read more

Yes, Advertising is a important to sell the product in today's competitive world.Advertising is a non-personal form of communication intended to persuade an audience to purchase or take some action upon products, ideals, or services. But sometimes, other methods of Promotion such as sales Promotion, Direct Marketing, Publicity, Sales Promotion, Events and Experiences and Public … Read more

Several aspects of business and marketing dictate how prices need to be set in order for a company or retailer to be successful and reflect their objectives. Firstly, the amount of time that it takes to make a product (and thus the hourly rate of the person who has made it, if applicable) needs to … Read more

Distribution really plays a very important role in enhancing the convenience of the customers therefore, distribution system of a company can appear as a major competency for the company. There are four elements of marketing mix including product, price, promotion and place. The distribution comes under the place category and the companies develop proper distribution … Read more

Characteristics Comments Reasoning Brand Name 1. The new philosophy could be" Nothing happens until somebody brands something” 2. Branding is more than just a business buzzword. 3. It has become the big art of selling the new product in market. 1. Brands should be seen as more than the difference between the actual cost of … Read more

Markets can be segmented (or divided) into hundreds of different categories. Usually the type of marketing segmentation used would depend on the product however regardless of the product there are some that generally remain popular. These include:

• Geographic location

This is a very important segment as geographic location can tell a great deal about a … Read more

When running any business, whether it be a multinational retail chain or a local grocery store, understanding buyer behavior is what makes you understand your customer. Using tools such as market research and questionnaires will help you determine what the customer wants and how they respond to things and this will affect your marketing activities. … Read more

Macro environment changes include political change, social change, environmental changes, legal changes,Technological changes and economical changes. These all have major affect on businesses and these changes out of business control. So anything that change in macro environment businesses need to respond in order to stay competitive. The following is example: Political factors: Government policies may … Read more

Macro environmental factors usually include inflation, unemployment, literacy, energy consumption, population, GDP growth etc. Almost all of the Macro environmental factors affect businesses. I will explain it with some examples. Demographics and the size of population can always impact the businesses like the companies which operate in the region of large population have more opportunities … Read more

It is defined as large societal forces that affect the micro environment are known as external macro environment. It consists of: 1: Demography: It is the study of human population in term of size, density, location, occupation, age and other statistics. Geographical shifts in population and a better educated and whiter collar people are part … Read more

Macro environment is all about the major environs around us. It gives us information regarding the main things with in an environment. A marketer must know the value of macro environment as it will give you high benefit in many ways. He must be habitual in working in micro environments but macro environment will give … Read more