Marketing Mix: Advantages and Disadvantages

Marketing Mix

According to Philip Kotler "Marketing Mix is ​​a set of controllable variables that a company can use to influence the buyer's response."

The term Marketing Mix refers to the main elements that must be considered in order to successfully market a product or service.

The Marketing Mix is ​​also known as the 4 Ps of Marketing.

The Marketing Mix exists because the entrepreneur has to:

1. 1. Produce or manufacture a product that meets consumer needs
   2. Sell it at a price that the consumer finds reasonable and can afford
   3. Make the product available in different places where the consumer can buy without much effort
   4. Inform the consumer about the product and its characteristics through the media that the consumer has access to

These are the 4 Ps:

1. Product
2. Price
3. Place
4. Promotion

Advantages of Marketing Mix

• It simplifies and brings together different concepts of Marketing into one, making Marketing easier to do and manage
• Allows separation of marketing from other company activities and delegation of marketing tasks to specialists
• Enables a company to vary its Marketing activities according to its resources, market conditions and customer needs
• Decisions can not be made on a Marketing Mix element without taking into account its impact on other elements.

Disadvantages of Marketing Mix

• The Marketing Mix does not consider client behavior, but it is internally oriented.
• The Marketing Mix considers clients as passive; does not allow interaction and can not capture relationships.
• The Marketing Mix does not take into account the unique elements of service marketing.
• Product is indicated in the singular, but most companies do not sell a product in isolation. Sellers sell products, product lines or brands, all interconnected in the mind of the consumer
• The Marketing Mix does not mention building relationships with the consumer that has become a major marketing focus, or the brand experiences that consumers buy.

Marketing Mix Components Table

The table below is ideal for preparing your Marketing campaigns with Marketing Mix’s help:

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