the marketing mix, often known as the four ps of marketing, represent areas that a firm can adjust to influence demand for its g

Question

2 years ago

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the marketing mix, often known as the four ps of marketing, represent areas that a firm can adjust to influence demand for its g

oods, services, or ideas. if a firm wanted to adjust the cost of a service by 2 percent to stay competitive, on which of the four ps would it be focusing?

Business

1 answer:

GrogVix [38] · Answer 1 · 2023-09-25T04:00:25+03:00

if a firm want to adjust the cost of a service by 2% to stay competitive, such firm will be focusing on the <u>Price in marketing mix</u>.

<h3>What is a marketing mix?</h3>

In marketing, these mix refers to those elements of a business's marketing that are designed to meet the needs of its customers.

The four elements of marketing mix are often called 4 'Ps' and includes:

price
product
promotion
place.

In conclusion, the firm will be focusing on the Price in marketing mix if a firm want to adjust the cost of a service by 2% to stay competitive,

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