satisfy the needs of an organization’s target market(s) and, at the same time, achieve its marketing objectives. Every business enterprise has to determine its marketing-mix for the satisfaction of needs of the customers. Marketing-mix represents a blending of decisions in four areas - Product, Pricing, Promotion and Place. These elements are inter-related because decision in one area usually affects actions in the others.
The basic purpose to determining the marketing-mix is to satisfy the needs and wants of the customers in the most effective manner. As the needs of customers and the environmental factors change, the marketing-mix is also changed. Thus, marketing-mix is a dynamic concept. It concentrates on how to satisfy the needs of the customers.
1 comment:
Well said...
The basic purpose to determining the
marketing-mix is to satisfy the needs
and wants of the customers in the most
effective manner. As the needs of customers
and the environmental factors change, the
marketing-mix is also changed. Thus,
marketing-mix is a dynamic concept. It
concentrates on how to satisfy the
needs of the customers.
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