Describe the marketing mix and explain why it is important for marketers 2)Discuss in detail how marketing strategies change during Product Life-Cycle and along with relevant examples from rea. Your paper should be a minimum of 2000 words in length. According to Lauterborn, the four Cs represent consumer, communication, cost, and convenience (Burgers, 2008, p. 3). Shimizu has defined the four Cs as commodity, communication, cost, and channel (Solis, 2011, p. 201). Basically, commodity in C is the same as product in P, communication in C broadens the concept of promotion in P, cost in C is the replacement of price in P, whereas channel or convenience in C takes the concept of place in P to the next level.
The product or commodity emphasizes on the importance of the physical attributes of the product or service that include but may not be limited to the size, weight, and dimensions of the product, and the materials used in it. Product is of immense importance because this is what the consumers need and the marketers’ entire marketing strategy is based on. In the contemporary age, one feature that the consumers are particularly interested in and which the marketers should thus place huge emphasis on is the innovation. Other factors that are also important include the product or service’s environment friendliness, and user friendliness. Price or cost is the aggregate of the entire values exchanged by the consumers. The price is determined by the benefits consumers are likely to attain by having the product or service being introduced by the marketers. This is the only factor in the marketing mix that determines the marketers’ revenues and thus, its role in the marketing objectives cannot be overestimated. Place is a very important element in the marketing mix and is extremely strategic in that the maximal success of the product or service depends upon the optimal location of its introduction in the market because a product or service would only be popular among the consumers if its features are consistent with their culture, norms, and values, in addition to their needs. Marketers employ the distribution channels to make their products and services available to the consumers.