Write in brief factors affecting the marketing mix.
Write in brief factors affecting the marketing mix.
Or
Why change is necessary in marketing mix?
Or
Why change should be made in marketing mix?
Ans.
Factors Affecting the Marketing Mix
Or
Causes Responsible for Change in Marketing Mix
Marketing organisation should observe the use of combination of marketing decision variables while making marketing programme. It should also observe the requirement of change in the combination of variables by seeing the mutual effect of these variables. Need of change in marketing mix is felt due to following reasons:
There are few factors that lie outside the control of the firm and are related to environment.
1. Competition: Competition is one of the important forces that can influence the variables of marketing mix. Keeping in view the possible adverse effects emerging from competition, marketing may take strategic measures to d face the competition by sharpening the tool of marketing mix. Adjustments in prices may be made considering the prices of substitutes. Design, packaging and labelling can be improved to bring in superiority touch. Similarly fresh strategic plans can be formulated to fight the battle at sales promotional front. In fact all possible measures are taken to overcome competition.
2. Consumer : Since marketing is consumer oriented. Every effort of marketing is focused on consumer satisfaction. Product is the commodity that provides satisfaction to one or many needs of the customer. Therefore it is for the business to find out what does the consumer want.
Demand of articles and services depends upon the requirements, fashion, attitude etc. of the consumers and requirements, fashion, attitudes are based on the standard of living of the consumers. Change in standard of living affects requirements and trend of demand. Due to it change in product! mix becomes necessary.
Customer preference is the most fluctuating area of all the environmental variables. A customer’s tastes and preferences change very fast and sometimes change very abruptly. His brand loyalty and purchasing too change from time to time. Sometimes he is concerned with quality and does not bother about price he is going to pay and on another occasion he keeps the price first and may compromise with quality. Marketing must respond to changing consumer behaviour through modification of the marketing mix.
3. Government Policies: This is another uncontrollable factor that may influence the marketing mix because business operates within the prevailing legal environment. On one hand legal environments promote business and on other hand they limit it. Any unforseen change in government policy may disturb marketing mix allocations.
4. Change in Distribution Channel: Marketer has to keep in mind the nature and need of the consumer. If nature and view of the consumer become change, it will require change in marketing mix along with marketing channel.
5. Market Research: Sometimes results found out from the marketing research force to change the marketing mix.
6. Competition: Marketing mix is changed as per thinking of competitors regarding the consumers, features of competitive product, marketing strategy, situation of competition.
In addition to above factors following factors also affect the marketing mix-
(i) Distribution strategy,
(ii) Government control,
(iii) Supply of improved goods,
(iv) Change in brand or trade mark,
(v) Changes in prices and policies etc. implies employees organisational structure, transfer of rights, etc.
