The marketing mix model can be used to help you decide how to take a new offer to market. It can also be used to test your existing marketing strategy. Whether you are considering a new or existing offer, follow the steps below help you define and improve your marketing mix.
When selling new products, the seller will often receive a “no” from a potential customer. This "no" contains information that the seller can use, partly to improve her/his argumentation on customer benefit, partly to determine to which buyer category the potential customer belongs (pioneer, early majority buyer, late majority buyer or latecomer).
The product’s life cycle is the process through which a product enters, grows, saturates, and leaves the market. During the life span of your product or service, you will reformulate your marketing strategy several times - not only as a result of changes in market conditions or new competitors but also in response to changes in customers’ interest and requirements for the product.