Question

1) Why must the marketing mix begin with decisions made relating to the product?

2) What is the most important of the key areas of consideration for determining the product? Why?

3) What is the most important of the key areas of consideration for determining the price? Why?

4) What is the most important of the key areas of consideration for determining the place? Why?

5) What is the most important of the key areas of consideration for determining the promotion?   Why?

Answer 1

Answer 1: Marketing mix has been begin with the product because product play a vital role in developing a strategy for the overall marketing mix which includes remaining P such as place, promotion and price . Product is the basic item that we have been provided to the customer in return of the price. Product create satisfaction to the customer and value of the company in the eyes of the customer.It satisfied the need of the customer in best possible manner.

In marketing mix other three such price, place and promotion are dependent on the product. As product features decided where the product has been placed in the market as well as how much price the marketer charge depend upon the features of the product.They are used different market strategy in order to gain maximum attainable share .

Answer 2: Most important key areas while launching a product in the market are:

• Research your target consumer: Before launching your product in the market the marketer has to study a detailed analysis of the target consumer in which they are going to selling the product in the future. The research should include how the product should be positioned in the market and how well they satisfy the need of the target consumer.
• Develop your product messaging: product messaging should play and at most important as they show that how you present your product to the target customer. Which aspect did the target consumeremphasis more.
• Plan your product launch strategy in systematic and logical manner that it attracts the consumer in best manner.
• Plan your post launch strategy .Launching a product is a difficult task but after a product has been launched in the market now it is a time to decide which product has been satisfied which type of consumer.

Answer 3 : key consideration for determining the price of the product are :

• Cost of the manufacturing a product as well as work out with the cost involved out with running the product in the market.
• Customer is the important and knowing about what they from the product . Are they driven for a cheaper product or higher value of the product.
• Once you understand your customer now it's time to understand the position of the product in the market.
• Competitors in the market and what price they charged for the product.
• Profit level attainment has been achieved or not .

Answer 4 : Place in the marketing mix is related to the role in the distribution and flow of goods because it ensures that product is in right place with right time.

• Method of distribution channel has been directly depend upon the type of the product involved.
• Availability of intermediate related to the product in the market.

Answer 5 :key consideration kept in the mind while selecting the product are :

• Type of customer used the product. Is they attract with quantity discount or Monetary discount.
• Type of the product. Is product is able to remain safe for longer period of time with the customer.