Title: marketing mix
|Date:||August 12, 2013|
|Length:||7 / 1923|
|No of views:||0|
|Essay rating:||good 0, average 0, bad 0 (total score: 0)|
The Marketing Mix is based on the fact that price is not the only factor that decides whether customers will buy from you or not. In fact, in some cases people never buy the cheapest! Do you know anyone who has taken 3 quotes and then decided to employ, or buy, from the middle priced quote...
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The error many new businesses make is to assume that if they are cheaper than the competition then customers will buy, which is not necessarily so. (Net MBA).
For many new businesses it is often better to consider an equal, or higher, price than the competition. Then, if you decide to lower the price, your existing customers will be happy, whereas if you charge too little and have to raise the price, your existing customers may leave you! So let's look at the factors that influence them to buy...
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