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Answer with example which company first named with this strategy..
As every product and related service is based on the demand of the end users, a successful company must rely and on the6 basic marketing mixes . :
These are :
1. product : the product should be favorably & friendly to the end users . every product starts and ends with the demand and the ability to purchase of the end consumers . if there is no demand for your product , there is no marketing , there is no trading .
2. Price: price should be affordable. There are a lot of systems to set the price but the most important and common price mix is: the price should be reasonable, affordable & competitive.
3. place : product must be accessible to the end users .the distribution channels must be carefully studied
4. promotion : the existence of a given product and related services should be announced in favorable promotion chinless , that the end user may perceive and give attentions
5. people : the working force of the company, the professionalism and the dynamics for the technological knowhow , matters a lot
6. politics : if the company is a multinational and involving a global market , the management must carefully study the political stance of the state , the political culture, the business regulations , the import export Rules & Regulations , the Foreign Currency buries, labor laws and other direct and over head costs, and the entire business environment should be studied before directly evolving in to a foreign Market . There are investment risks specially, with the FDI /Foreign Direct Investment / scenarios. what if the host Government announce to Nationalize your entire asset within a year or two after you start operations? the infrastructure facility of the country also should be taken in to a big consideration before you put your asset on the ground .
COCA COLA Is one of the best examples to achieve the principles these famous marketing mixes
