How bsbmkg502 can establish and adjust the marketing mix?
Are you interested in marketing? Do you have any idea what a marketing mix is? A marketing mix is a tool that helps a marketer assess what customers desire from a brand. Any marketing process always deals with four distinct qualities: people, product, price, and place. People include both – customers and sellers.
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The product involves the necessity that compels the customer to visit the seller. Price is the exchange between the seller and buyer against the product. Place is the location where the sale and transaction occur. Promotion is the public declaration that the seller communicates to the target buyers.
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Factors of a Marketing Mix
According to bsbmkg502 task answers, some of the fundamental factors included in the marketing mix are –
1. The Product that is offered to the customer.
2. The Price of the Product.
3. The Promotional procedure of the product.
4. The Place or location to sell the product.
This bsbmkg502 establish and adjust the marketing mix also assesses three additional factors, which are –
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1. Offer evidence
2. Seller identity
3. Method of sale
So, now let us discuss the process with bsbmkg502 task Answers.
1. The Product is the priority in the marketing mix as it specifies the value.
2. The Price must remain at a considerable rate so that customers can access them irrespective of their class.
3. Promotion empowers brand recognition irrespective of its popularity.
4. The location plays a vital role as people can access them. But online services can change that.
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What more are there to offer in a marketing mix? The bsbmkg502 Answers 3 additional processes –
1. Real-time evidence can provide the necessary proof to determine the service quality. In addition, customer feedback can offer clues to the success of the marketing mix.
2. As in any commercial operation, the customers are the real value targets in a marketing mix.
3. The processing is equally essential as it provides bsbmkg502 solutions and simplifies the procedure.
Marketing helps meet the needs of both the parties – the buyer and the seller. The customer requires the product or service. The seller provides that service or material. Both are dependent on each other.