What Is the Most Essential Marketing Mix Element (Product, Price, Place or Promotion)?

Answer 1

PRODUCT
If you don't have a good product, the price , place and promotion of it don't make any difference.
If the product is wrong and not a viable, saleable, item , people will not buy it even if the price is great, it is available readily and it has been promoted properly to the right target market. People will not buy it. You must have the right PRODUCT or the other 3 elements are a waste of time.

Answer 2

I think it's more a perspective thing. Personally, I'd say the product is the absolute most important thing because without a good product, you have nothing to promote.

For instance, if my widgets are promoted as the next best thing since peanut butter and twice as cheap as the leading competitor product, gidgets, with sales kiosks in leading department stores and malls across the country, it does me no good if the widgets don't work correctly or are made of inferior materials, or are difficult to operate.

In essence, no matter how it's promoted, a pile of "poop" is still a pile of "poop" and the word spreads so quickly that it won't sell at all no matter how little it costs and how well it's promoted.

Hope this answer helps.

Answer 3

I agree with Platinium that there is no MOST important element because it is a mix. A company does not have to have a GOOD product in order to be successful - people market all sorts of crap all the time.

If the company wants to be profitable long-term it will need a good product but not everyone thinks that way.

I think you are missing a P however - PEOPLE - who is your target market.

I personally add one more P - Profit - if a marketer is not taking profits into consideration then what is the point. You are in business to generate profit so your Pricing, Place and People and Promotion all affect your profit eg. targeting high school kids with a Ferrari would be stupid in most cases

Answer 4

essential marketing mix element product price place promotion

Answer 5

It is called 'mix' because there is no such a thing as 'most essential' element. System is more than simple addition of elements. Equally important they are. Their roles in the mix has to be defined correctly and the success will come.
Take for example Dell - they started selling computers over the Internet - used the right dose of the 'least important' P place and they become very successful. Be inspired by them.
Have a good one.

Answer 6

I think you have to focus more on experimenting to know the best strategy you are looking for. For one, there is no absolute marketing tactic because every company/product/service is different from each other. As such, you have to go on trying different methods in order to know what works for you and what does not. Just a tip: You have to frequently check the new methods of marketing while at the same time keep on track the basic ones.


Mary
http://gbwatch.com/

Answer 7

That's not wrong

Answer 8

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