FACTORS AFFECTING MARKETING MIX ELEMENTS

Principles and Practices of Marketing
  1. Finance-the business should consider how much money is to be spent on marketing.
  2. Needs of the market-the business should continue to carry out market research as the business grows,as the needs of customers change over time.
  3. Competitors-marketing mix can be used as a response of competitors actions in the market
  4. Technology-the business may change where goods are bought and sold according to changes in technology e.g. internet.
  5. Demand of products-affected price element as they are inversely related.
  6. Nature of the product-affected the form or physical evidence.



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