2.25 Marketing Mix and Business Decisions

The different elements of the marketing mix can influence each other:

Examples

If the PRODUCT is rare or in demand, a higher PRICE might be charged

If customers want lower PRICES, the business might have to lower the quality of the PRODUCT

If the PRODUCT is niche and expensive it might be sold only in exclusive PLACES

If the PRODUCT is in the decline stage of the life cycle it might be heavily PROMOTED to sell remaining stock