Building a successful marketing mix
Product,Price,Promotion and PLace
Marketing mix is all about businesses having 4 main qualities. Good quality products,good prices,promoting their products/having sales and being located in a good and easily access-able place. None of these points are more important than the other they all are equally needed to succeed. Companies will change each element in the marketing mix to achieve and overall brand image.
Advantages of marketing mix: this gives businesses an idea of what they need to do to be successful. Using the 4 points can get you loyal customers, more profits, less costs.
Disadvantages of marketing mix: If you do not meet all of the points you will loose those loyal customers, your costs will go up and your profits down.
An example of a famous business that uses marketing mix would be coca-cola. They will come out with a new flavored drink regularly. This keeps their customers happy. Their prices are reasonable which also keeps the customers happy. You can buy coca-cola anywhere this makes it easily access-able. The product is also regularly promoted, there will repeatedly be a new commercial that coca-cola has produced and is ready to share with the rest of us.