Question

Consider these two marketing mix elements. How has the Internet affected Pricing policies? Discuss how Place decisions have been changed due to a global marketplace fueled by the Internet.

Please provide references

Answer 1

Marketing is vast area of research. In a lay man term we can call marketing as a functional wing of an organization which help the product or service to reach to the target mass using various marketing mix and concept by doing this they give desired profit to the organisation.

As, define above it cost money to produce a product , distribute a product and promote a product. So, price is the most thing. I thing no. If we invest on price we will only construct our inventor, but the main theme of marketing is knowing your customer , what they want , how they want and where they want. This can only be done if we know the other mix product, place and promotion.

Marketing mix consists of product , price , place and promotion. So, this four parameter’s need to be optimized to reach the optimum goal of creating effective a marketing mix which can be used to get better result in terms of sales and channel effectiveness.

Consumer priorities help to define marketing mix as it defines type of product to sale, the price consumer is willing to pay and the promotion activity that to be define.

Needs define the price and product. As it doesn’t need much of a promotion or a define place to sell.

Preference define place and price. As, some customer prefer it and some not. Which also make it exclusive and affect the price of the product.

Internet affect the pricing policy as people do have the knowledge about product price and price of all the product alternative to this. It make company do the market research about price and set a competitive price . Which can attract customers , otherwise customer go for low price and compromise with quality.

Place decision is change due to the fact that market become global. Before , that marketer target one particular market , but now days they target all the customer from globe. They , do not decide place they launch or make available the product in global market.Marketing is vast area of research. In a lay man term we can call marketing as a functional wing of an organization which help the product or service to reach to the target mass using various marketing mix and concept by doing this they give desired profit to the organisation.

As, define above it cost money to produce a product , distribute a product and promote a product. So, price is the most thing. I thing no. If we invest on price we will only construct our inventor, but the main theme of marketing is knowing your customer , what they want , how they want and where they want. This can only be done if we know the other mix product, place and promotion.

Marketing mix consists of product , price , place and promotion. So, this four parameter’s need to be optimized to reach the optimum goal of creating effective a marketing mix which can be used to get better result in terms of sales and channel effectiveness.

Consumer priorities help to define marketing mix as it defines type of product to sale, the price consumer is willing to pay and the promotion activity that to be define.

Needs define the price and product. As it doesn’t need much of a promotion or a define place to sell.

Preference define place and price. As, some customer prefer it and some not. Which also make it exclusive and affect the price of the product.

Internet affect the pricing policy as people do have the knowledge about product price and price of all the product alternative to this. It make company do the market research about price and set a competitive price . Which can attract customers , otherwise customer go for low price and compromise with quality.

Place decision is change due to the fact that market become global. Before , that marketer target one particular market , but now days they target all the customer from globe. They , do not decide place they launch or make available the product in global market.