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Guys I really need your help in this question
If pricing is changed so should all the marketing mix ?
If pricing is changed so should all the marketing mix ?
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A levels BS HELP
- Thread starter fahadzaidi96
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Would depend on the situation. Why are you changing the price ? ( if your changing it because you want to make it appear as a luxury item to the customer..the product and packing will also most likely need to be changed. Place also may need to be changed to represent retail areas where customers are known to look for more expensive items. ).
Similiarly if you are reducing the price because of increased competition..there is not much need to change the entire mix.
Just giving you these points as a guide. In truth there are several answers such as do you intend to change the price because of a new marketing strategy?. Also the more obvious point is that if price is changed...promotion should change aswell. Would reducing the price by 50% be appropriate if your promotion still uses TV commericals to target customers who are rich or in a better social class then your target customers ?
Similiarly if you are reducing the price because of increased competition..there is not much need to change the entire mix.
Just giving you these points as a guide. In truth there are several answers such as do you intend to change the price because of a new marketing strategy?. Also the more obvious point is that if price is changed...promotion should change aswell. Would reducing the price by 50% be appropriate if your promotion still uses TV commericals to target customers who are rich or in a better social class then your target customers ?