How does the marketing mix affect the development of your selected organization’s marketing strategy and tactics?
Solution Preview
The four elements of marketing mix, i.e., price, promotion,
place and product, are the heart and soul or core elements of the
overall marketing strategy and tactics and thus, it is impossible
to develop marketing strategy and tactics without involving these
four core elements. Each of these elements are closely interrelated
to each other and any changes in each of these elements affect the
development of overall marketing strategy and subsequent tactical
plans to accomplish those strategies.
For example, any change in pricing strategy affects each element of the marketing strategy, be it advertising and promotion, distribution, marketing communications, etc. Pricing affects the overall positioning that the …
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