MARKETING MIX

Question 1

Advantages

Answer 1

360 view of the market
Takes into account internal and external factors → Makes marketing budgeting easier
Coordinates the different aspects of marketing
Brings marketing concepts in a simpler manner → Easier for businesses to market their products
Helps with strategy formulation and implementation

Question 2

Disadvantages

Answer 2

More complicated due to the addition of the new 3Ps.
Misses out on addressing issues related to business productivity.
Product is mentioned in singular but not all businesses sell their products in isolation.