evaluation of the marketing mix

• the product is the good or service sold by the business. The firm must ensure that the product meets consumer needs and quality expectation. A brand name should be developed to increase consumer awareness of the product. The firm should also ensure that products packaging is attractive and protects the good from damage during transport
• the business must ensure that the pricing strategy chosen for its product covers production costs. The firm can use a range of strategies including penetration pricing, premium pricing and tiered pricing
• Place refers to the where the consumers can buy the product and the channel of distribution used to get the product from the manufacturer to the consumer. The firm may use a channel such as transferring the product from the wholesaler to the retailer and then to the consumer
• promotion is used to increase consumer awareness of the brand and the products it sells. It can include advertising and sales promotion techniques such as loyalty cards and free samples. Public relations can be used to improve the image of the brand through sponsorship and endorsements