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The Marketing Mix (Service (extended) marketing mix (Promotion, Place,…
The Marketing Mix
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Promotion
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Advertising
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Social media
Companies are employing third parties to mimic word of mouth communication through social media - raising ethical concerns
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In practice the elements cannot usually be frequently and rapidly changed because changes
can take time and/or be expensive
Careful research, analysis and planning are important to
ensure that an optimal mix is chosen
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All of the elements play a role in meeting consumer needs; any element that does not fit consumers’ needs may compromise the overall value proposition offered to customers
Examples
A product or service may be discontinued by a customer because an aspect of its design may not fit their needs satisfactorily
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A tool used to tailor a product or service and adjust the way it is offered to customers to match their changing needs and facilitate their awareness, access and amenability to an offering in a dynamic marketplace.
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