Using the telecommunication industry, explain how the marketing mix varibles can be implemented in an organization.

Answers

Marketing Mix is the combination of controlled marketing variables that a manager uses strategically in pursuit of the firms objectives in a given target market.

Price: Pricing is the process whereby a business sets the price at which it will sell its products and services and may be part of the business's marketing plan.

Product: A product is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

Place: This is where and how the product or service is purchased by the customers. It also entails where the product is stored and manufactured.

Promotion: Promotion refers to reaching the target audience with the right message at the right time. It gets the word out and is an effective way to conduct a sales promotion and connect with consumers. A promotional strategy aims to show consumers why they would need a certain product and the reasons for buying it over other products.