Marketing mix 4
is a mix of product, place price and promotion oftenknown as the 4P, s. In order to make it customer oriented,understanding of different functions in different industries must bedeveloped. To begin with, the product has to be made according to thecustomer’s needs and demands. Place of the product is essential aspeople will buy product from places which is convenient. The price atwhich a product is set determines whether customer can buy. Settingprices too high will drive customers away. Promoting productsattracts the right sort of business, in the right quantity, at theright time and distinguishes your business from that of competitors(Bowman & Gatignon, 2010).
The aim of any manufacturer is to have a product that will last inthe market for long. In the introduction cycle of personal computer,the manufacturer tries to raise awareness of the product. The productis established as one of good quality creating a trade mark. Pricingis low to break into market. Distribution is scattered and promotionis aimed at potential consumers. In growth stage, price remains thesame or fall due to competition. As demand increases, computers aredistributed worldwide and promotion aims a wide audience. Atmaturity, the computers aim at maintaining market status and maximizeprofits. Product offers new features, prices are low, concentrationis on a single area and promotion increases. In the decline stage,sales for the computers decline, prices slumps, promotion ceases andall costs associated with the computers are cut (Bowman &Gatignon, 2010).
Some of the advantages of online cloth shopping include 24/7shopping, time and energy saving, one enjoys freedom of choice, greatfreedom of price flexibility, rare and unique cloths are availableand there is greater buyer protection (Bowman, 2010). Disadvantagesinclude delays to receive cloths, high shipping costs, ramparedonline frauds, warrant to cloths is not provided, not possible toreturn cloths once bought and you never know the size of the clothsyou buy.
Bowman, D., & Gatignon, H. (2010). Market response andmarketing mix models: Trends and researchopportunities. Boston: now.