Having considered price, which is the amount in money for which product or service is offered for sale. Consumers may prefer lower price, but high price might gain more revenue per unit. In marketing mix, price is a business tool used in products, price often considerable when deciding a product’s unique se...
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...in the process of planning. Furthermore, product life cycle gives more helps to small firms with one or two products.
Accordingly, it is generally considered that product is the most crucial part in the marketing mix. In product life cycle, every stage of product influences other three elements. This is not to say that price, promotion and place are not important, but compare with product, product is the basic of others. We cannot set price, advertise and needn’t to find a place because without product. Consequently, the enterpriser needs to develop an outstanding marketing mix, with each element complementing each other. The best approach depends on the product, its rival situation, the objectives and budget. Effective marketing mix is essential to enable the business can generates profits and sales. Using marketing strategy lead to a successful marketing mix.
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