ABSTRACT
This chapter addresses all aspects of a company’s marketing. The marketing mix is the set of well-regulated, strategic marketing tools a company uses to generate a required response from its target markets. The distribution strategy depends on the types of product. The three most common types of distribution strategy are intensive, selective, and exclusive distribution. Pricing is one of the most important elements in the marketing mix, because price helps generate revenue. A price adjustment may have a significant impact on the whole marketing mix. When setting prices, firms should first look at internal and external factors. One of the main internal factors are the costs involved in manufacturing a product or service, which are mainly divided into variable cost, fixed cost, and opportunity cost. Understanding the product lifecycle helps marketers design an adequate marketing mix that is suitable for each stage.
