What Are Marketing Matrix? Essay

711 Words Oct 19th, 2016 3 Pages
What is marketing Matrix?

Marketing matrix is the combination of Product,price,place and promotion for any business enterprise or venture.

Product defines the features and appearance of good and services.

Price define how much customers pay for a product.

Promotion defines how customers are informed about products.

Place defines the point where products are made available to the customers.

Basically none of the marketing matrix is important than the other and they ideally support each other. Selling the right product at the right price is how business gets done.

Product

The product or service the customer is purchased its quality must go beyond the obvious. One has to consider the consumer needs so as to market the product. There are several benefits a consumer is always looking in a product. Let 's say a food supplement or a certain meal, what are the health benefits of the meal? Is It a balanced diet or is just the quantity to quench the hunger? Quality of the product determine if a consumer will or will not buy the product.

Promotion

Promotion involves telling the consumers existence of the product.Promotion has many facets to consider, such as the formats of the message: television, print or online. Of course, the message you send to the consumer is important: beverages are enjoyed all over the country. A hot beverage is an easier sell during the winter or in a cool climate. Selling a hot beverage in warm climate brings a different challenge and a different…

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