Title: Marketing Mix
|Date:||January 7, 2015|
|Length:||4 / 1143|
|No of views:||0|
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A product does not necessarily have to be a tangible good, but instead could be some service based good. Whether the good is tangible or not, it is important to understand what aspects of the product allow the company a competitive advantage (essortment,com, 2008). Some relatable questions are: What separates the goods from others already on the market? Is it of better quality? Or, is there a warranty or guarantee that will convince customers to purchase the particular product? Understanding the product will greatly influence the elements going into the marketing mix...
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For example, a high quality, not readily available product, such as a diamond, would be priced and marketing differently than a readily available product such as a cubic zirconium. Once a product is established and questions like the ones above are answered the other parts of the marketing mix become important...
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