The Extended Marketing Mix is a combination of elements that make up a campaign to sell...

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The Extended Marketing Mix is a combination of elementsthat make up a campaign to sell a product. It is anexpansion on the original marketing mix of product, placement,price, and promotion, adding additional factors that can influencethe success of a campaign.
Q:Discuss the differing components of themarketing mix and its development from the 4Ps to the 7Ps,providing examples of how these are applied to a business known toyou.

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Marketing mix is used to describe the different kinds of choices the organizations have to make in the whole process of bringing a product or service to market Marketing mix is all about putting the right product at the right price at the right place and at the right time Marketing mix is usually associated with 4Ps of marketing however there are additional elements that led to 7Ps of marketing and are also known as Extended Marketing Mix The 4Ps of Marketing Mix are 1 Product A product is an item which is produced to satisfy the needs of the consumers The right type of product would lead to increase the demand in the market hence the organisations need to figure out the right products which will infuence the customers and satisfy their wants The firms must consider the life cycle of the product to address any issues and to stimulate the demand once it reaches the sales decline phase In developing the right product following questions needs to be answered What does the customer want from the productservice What needs does it satisfy What features does it have to meet these needs How and where will the customer use it What does it look like How will customers experience it What sizes colors and so on should it be What is the name of the product How is it branded How is it differentiated See Answer

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