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Marketing Mix Place: Deciding Factors for Business Growth
The marketing mix comprises of the five P’s – Person, Product, Price, Place and Promotion. If you’re new to marketing, you may want to first look up the 5P’s of marketing with this course. In this article, we’ll discuss the importance of the ‘place’ factor in the marketing mix, how to choose the right channels of distribution and how the internet is fast changing the way businesses are conducted irrespective of your business location.
To maximize sales and reach out to larger audiences, it is very important for your business to be “visible” to potential customers. The place of business, distribution channels and logistics plays a crucial role in the success of your marketing strategy. While product, pricing and promotions go hand in hand with the place factor, if your business location is not appropriately chosen, the rest your efforts would hardly get noticed! Hence, to get the marketing mix right, select the place where you would set up shop very carefully, choose your channel partners and distributors wisely and then get on with your marketing efforts in an integrated way
