How the marketing mix can influence competitive advantage
By creating a Clear and logical. and When the various parts are linked or coordinated.A description of marketing–product, price, promotion, place., a business can influence the How a business endeavours to outperform its rivals. that it has over other businesses.
For example, a business that produces a new model of sports trainers might build the marketing mix outlined below:
- Price - As they are a new product, with unique features, the trainers are priced slightly higher than the competition, although promotions offering a discount are available to some customers.
- Place - Since they have been designed specifically for runners, the trainers are sold largely through specialist sports shops and websites that are popular with runners.
- Product - The trainers are a new, high-quality product manufactured using the latest technology. They are made using a new, lightweight fabric, and are hardwearing yet comfortable.
- Promotion - The trainers are promoted heavily on social media, targeting those who are interested in running. Discount offers are available to members of running clubs, and customer comments about the trainers’ comfort are used in adverts.
This marketing mix would provide a number of competitive advantages, including:
- The product has a The distinctive factors that make a product or brand stand out from rivals. because the fabric that the trainers are made from is new and lightweight.
- This USP enables the business to charge a slightly higher price. Even though the market is competitive, customers will pay for New methods, ideas or products..
- The place reassures customers that these trainers are designed for those serious about their running. By selling only through specialist shops and websites, the business is letting customers know that these trainers are not just a fashion accessory.
- Further confirmation that these trainers are designed for runners is provided by the methods of promotion, which use media platforms that are likely to be seen by runners.
This marketing mix would allow the business to have a good chance of success in a competitive market with other well-known brands.
