Let us do your homework! 1. Technological. marketing mix is related to three different variables for example people, process and physical evidence. %PDF-1.5 L – LegalLets look at each of these macro-environmental factors in turn.All the external environmental factors (PESTEL factors) Factors Affecting Pricing As noted, the main reason for entering different markets is to increase the income and profitability. %PDF-1.5 Free proofreading and copy-editing included. It makes certain changes in its product … Social media, data-driven marketing, artificial intelligence, machine learning and other trends are disrupting the business landscape. This paper examined the basic factors that affect price in any market and the factors that influence channel structures and strategies, as well as the debate over standardisation and localisation of international advertising. endobj The data were analyzed in terms endobj element of marketing mix, which can be changed quicker than other elements of marketing mix. Demographic factors include structure of the population, division according to sex, age group, income group, material status, and profession, etc. Communication (IMC) is one of the marketing communication tools used to achieve a competitive advantage. The marketing mix is characterised by four … stream A rise in the prices of goods is directly proportional to the input prices for producing the goods and services. stream �%�Җ����NC�m�E"M�bW�����N�U^�z���R��nNJ$��p�K6�0H����k�X���5yE¥b{F�:�de^uA����Yd���*�b�e�)�@^�E�.���$/E�#[�ua��#o�m��P[��i^7!.�mrR��I��h���7T��4�:��c��sFi*I\��,b�X���vVPi�>,� 3 0 obj In its three decades of development, many constructs of cause-related marketing have been tested from different perspectives and in varied contexts. The participants in this study were 140 customers who have received beauty services at the selected beauty salon in Maa Boon Krong Center (MBK) in April 2012. Nature of Product: The different type of product requires different promotional tools. marketing mix components [2, 8]. <> The original marketing mix, or 4 Ps, as originally proposed by marketer and academic E. Jerome McCarthy, provides a framework for marketing decision-making (Needham, Dave, 1996). Marketing mix is the ... are also important factors in influencing the buying decision of the consumer. In other words, a firm is surrounded by internal and external force which have a great effect on firm’s ability to maintain lasting relations with target customers. Profitability: Every business unit tries to maximize its profits. Reviewing 162 studies from 117 articles, we constructed a framework of meta-analysis and identified 20 constructs. The social factors that can affect the marketing environment are demographics of a particular area, the age distribution in the area, the lifestyle attitude, the major religion, the form of government. The model is developed using the method of expert assessment (20 experts were interviewed in the field of domestic e-commerce). UJ*Y�z"�P��? Some marketing experts view price is the only dominant factor in the mix because a slight change in price can affect the promotion and distribution of the product at different places. Factors affecting the Marketing Mix. %���� This study attempts to analyze marketing mix factors influencing the purchase decision. <> Molson Canadian Beer looks, smells, tastes, and feels just like any other beer. Product Strategy Product strategy involves making decisions about product quality, features, brand name, type and size of packaging, customer service, and warranties. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Various factors affecting marketing function. key elements of the marketing mix, which is based on the "importance - execution" model. The largest single critical factor determining the company’s sales growth is the product itself. If your product is satisfying the needs of the consumers at reasonable prices, it will sell. %���� There are man y factors which affect price in inte rnational markets. The term marketing mix was first coined by James Culliton and was described as 4P`s by Professor Jerome McCarthy. number of factors which affect sales and relationships that are not in the control of a company. <>>> As in any domestic market, pricing is central in international market. 2 0 obj These are the factors which marketing strategies are centered on. Technological advances are a strong economy marketing factor that organizations can't afford to ignore. 3 0 obj It most commonly refers to the 4Ps of marketing─product, price, promotion and place. It is one of the most important elements These factors that affect pricing are discussed below- 1) Marketing Mix – Management can easily do variations to the price component of the marketing mix element. Pricing is considered as part of 4Ps of marketing mix. Ten factors are distributed over a mix of marketing tools (Table 2). 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