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PHASE C: DESIGNING AND MANAGING A MARKETING MIX

9 November, 2015 - 14:35

Once the firm has identified the markets it wishes to service, the next step is to select a marketing mix that will enable the firm to penetrate the market and capture a profitable niche within it. The well-known principle of economies of scale applies to the marketing mix management process. The more markets that can be reached via the same marketing mix, the more the "sunk" costs of marketing can be spread out. The result-lower prices-benefits both the firm and the customer.