Advantages And Disadvantages Of Marketing Mix

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The Marketing Mix Product, place, price, promotion are the four p’s of the marketing mix. These four p’s are what make up marketing and what drive consumers to a certain product or service. A marketing mix is a phrase used in the business world to allow different options of the way a company wants to put their product or service on the market. The product or service is what the customer is looking for and will decide whether or not purchase based off of its looks, color, size, or cost. Place is the location of where this item can be found by its customer. The price will determine the value of the product or service and compare it to other products or services similar to theirs. Promotion is how the product will be advertised and get to its …show more content…

If a company is promoting a product and the customers do not like it they will lose money from advertising. Promotion at times can jeopardize revenue leaving room for a big risk with each advertisement. Investing time and money and not getting the results that the company expected can cause the product to fail and sometimes even bankrupt a business. Puting a product on sale for too long can cause a product to decrease in value. If customers see that a product is cheap they will assume it is low quality and will be less interested in purchasing …show more content…

It is not there to be used by just any company who does not know what they are doing. Businesses that try to use it right off the back will not understand it and struggle with the process. It is important to take each step one at a time and be able use them to build the business upward. Now in society where there are businesses being built every day and putting out products for their customers the marketing mix has helped paved the way. Customers can walk in to a store and buy a reliable product and a competitive price and feel comfortable with their purchase. Businesses put out these products and base their companies off them and with huge amounts of customers that is very important. Without the marketing mix stores would not organized, businesses would not be what they are today and people would not be able to make the purchases they

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