Marketing Mix vis a vis: Product and Place

What is Marketing Mix?

• set of marketing tools that a company uses

• Objective in the market

• product

• place

Commodity produced or built to satisfy the need of an individual or a group

(a)  

We should position and distribute our product in a place that is easily accessible to potential buyers/customers.

• Market Place

• Placement

• Marketing tool

• Environment

4 Considerations for a marketplace

• The Economic Status Of Your Target Country

• Cultural Factors

• Legal Considerations

• The Capability Of Your Company

• Know Your Market

You need to know what kind of market is available for your product, as well as specifics about that market.

• Know Your Market

• Understand Quality

• Time to Market

- You want to create a high-quality product that lasts a long time and keeps customers satisfied, so make quality a focus.

• Time to Market

• Understand Quality

• Testing

It’s important to test your product to make sure it’s designed for the conditions it’s going to withstand. 

• Testing

• Understand Quality

• Time to Market

Don’t cut corners and end up making a low-quality product, but you want to make sure your customers can afford your product, whether it’s a laptop or a yo-yo.

• Market Place

• Stick to budget

• Testing

• Product

Your target market can be very attractive, but one of the most important marketing considerations for developing markets should be whether your company is actually able to serve it effectively. 

• The Capability of Your Company

• Quality

• Product

• Cultural Factors

Get to know the laws that concern you as a foreign investor and weigh your options because some rules, laws, and regulations may be highly unfavourable for your business. 

• Get Feedback

• Legal Considerations

• The Economic Status Of Your Target Country

• Cultural Factors