±«Óãtv

It is easier to sell products designed with the needs and wants of consumers in mind. As needs and wants change, businesses must update or replace products that no longer satisfy consumers.

Price often influences purchasing decisions, so getting it right is important. Set the price too high and consumers will not purchase. Set it too low and there is a risk that the business will make losses.

Promotion is a key part of marketing, helping to inform and persuade consumers about products. Promotional activity can be expensive, so it is important that choices are made wisely.

Customers are less likely to buy products that are difficult to find or frequently unavailable. Therefore, getting products to the right place is an important part of the marketing mix.

Combining the elements of the marketing mix will help to inform the decisions that a business makes about its target market and the image it wants to convey.