4.5 APPROPRIATE MARKETING MIX Flashcards
What is meant by an “appropriate marketing mix”?
A coordinated set of marketing strategies (7Ps) tailored to suit the internal and external environment of a business to achieve its objectives effectively.
How does the Product Life Cycle affect the marketing mix?
The mix must change at each stage (e.g., low prices and awareness during Introduction, high promotion in Maturity to defend market share).
How does the BCG Matrix influence the marketing mix?
Each category needs a different focus — Stars require investment and promotion; Cash Cows prioritise efficiency and profit harvesting.
How does product type (mass vs. niche) affect the marketing mix?
Mass products use low pricing and mass promotion; niche products use personal selling, premium pricing, and product quality.
How do marketing objectives shape the mix?
Objectives like growth or increasing market share impact choices in promotion, price strategy, and distribution channels.
How does the target market affect the marketing mix?
Businesses must match the preferences of the audience — e.g., digital promotion for youth, traditional for older consumers.
Why must the mix respond to competitor activity?
To stay competitive, firms may adjust pricing, packaging, or promotion to match or outperform rivals.
How does market positioning influence the marketing mix?
A high-end brand needs premium pricing, high-quality packaging, and selective distribution; budget brands focus on affordability.
What happens if a business changes its product?
It may need to change price (e.g. premium), adjust promotion to reflect new image, and use a different distribution channel.
What happens if a business changes its price?
Changes in price can affect brand perception and may require updated promotion or repositioning within the market.
What happens if a business changes its promotion?
Changes in promotion may need adjusted pricing or distribution to align with new brand message or image.
What happens if a business changes its distribution channel?
Changing from mass to exclusive distribution may require higher pricing and repositioned promotional strategies.
