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Post by juthi52943 on Dec 27, 2023 7:58:10 GMT
The marketing mix helps to develop the product portfolio Whenever you want to develop a product or product line you have to make minor changes to the product. In essence it refers to minor changes in the marketing mix itself. You can make changes to the product features prices and possible promotions. As a result by changing the marketing mix and certain characteristics within it you will actually end up with an expanded product portfolio. The marketing mix serves as a guide to improve a business Job Function Email List Physical evidence was an important P in the marketing mix of services. If a restaurant or interior design business realizes that it is important then naturally they can act accordingly and improve the physical evidence of their business improving it effectively. The importance of the marketing mix is obvious if you analyze the four p's that make up the mix. People and processes are also important for the organization and optimizing both can improve the overall functioning of the organization. Therefore the marketing mix is an excellent guide if someone wants to improve their business and does a GAP analysis. The marketing mix helps in differentiation When you analyze the marketing mix of competitors you will be able to identify different methods of differentiation from the competition.
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