Marketing Mix

• Why do businesses need to adapt to technology?

  To respond quickly to customer needs
• What are the five basic elements of the marketing mix?

  Product, price, place, promotion, people
• How does digital communication impact product accessibility?

  Products can be adapted for customer convenience
• How does digital communication affect pricing for businesses?

  It helps keep prices low through savings
• What is a benefit of digital communication for place in marketing?

  Customers can access services anywhere
• How can businesses use digital communication for promotion?

  By emailing newsletters and tracking behaviors
• What is e-commerce?

  Buying and selling goods online
• How does e-commerce affect product availability?

  Customers can download products immediately
• How does e-commerce influence pricing strategies?

  Customers can easily compare prices online
• What advantage does e-commerce provide for place in marketing?

  Allows purchases anytime, anywhere
• How can promotions be implemented through e-commerce?

  Through promotional offers and flash sales
• What is the role of social media in the marketing mix?

  It influences all four areas of marketing
• How can social media affect pricing for businesses?

  Cost savings may lower prices
• What advantage does social media provide for place in marketing?

  Businesses can interact globally with customers
• How does social media help in promotions?

  It targets promotions at specific customer groups
• How do payment methods impact the marketing mix?

  They facilitate easy purchases of digital products
• What should businesses consider regarding payment method fees?

  Fees must be accounted for in pricing
• How do new payment methods affect product sales?

  They facilitate online selling of products
• How can businesses promote their payment options?

  By advertising various payment methods available