This study revolves around the task of finding the right combination of the different elements of marketing mix
Marketing consist of a set of controllable marketing variables that the firm bends to produce the response it wants in the target market. These four variables are the four P’s of marketing strategies, which are product price, place, and promotion. All of these influence the customer’s response and decisions ad are used by the companies in mapping an effective and successful marketing strategy.
Marketing strategy is a unified plan and the central focus of the marketing department. This entails the decision on what is to be offered and how. It embraces different components of imperfect competition in their search of extra ordinary profits.
Product is the heart of the marketing mix. It refers to the physical goods and intangibles. It is something that has value and utility and is bought because of the different benefits in could deliver to the customer.
Place is the choice of location which has much to do with success of business operation. It also stands for company activities that make the product or service available to customers. In addition to the site factor, the atmospheric characteristics of the place should be considered. Likewise the principles of design and layout of the night club include the size, shape, style, and decoration of the place, and the location of the facilities and equipment. In service type of business, the establishments of branches in different location are practiced to reach its customers.
Price is the amount of money that a customer pays to avail of certain product. It is expressed in terms of peso and centavos. It is the only element of the mix that generates revenue. Businesses can...
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