Using the marketing mix

Read the text and select the best option.

The luxurious perfumery at The Galeries Lafayette Department store
in Paris only sells premium brands.
An exclusive brand of jewellery uses the best materials but comes at
a high price. Such designer brands can only be bought at exclusive
stores and are promoted using personal selling sales assistants. By con-
trast, cheap and cheerful jewellery for the mass market is best sold
in supermarkets and can be promoted using television adverts.
Market research findings are important in developing the overall mar-
keting mix for a given product. By identifying specific customer needs
a business can adjust the features, appearance, price and distri-
bution method for a target market segment.

New technologies and changing fashion means goods and services have
a limited product life cycle. Ideally, the marketing mix is adjusted to
take account of each stage. For example, the life of a product can be
extended by changing packaging to freshen a tired brand and so boost
sales.
Market stalls generally sell inexpensive items.
There is no single right marketing mix that works for all businesses at all
times. The combination of product, price promotion and place chosen by
a business will depend on its size, competition, the nature of the product
and its objectives.
The overall marketing mix is the business’ marketing strategy and is
judged a success if it meets the marketing department’s objectives, e.g,
increase annual sales by 5%.