Marketing mix and competitors

[Bend444]

hey i was just wondering if anyone could help:

where do 'competitors' fall into the marketing mix? out of the 7 p's (price place promotion people process product physicalevidence) does anyone know where competitors are considered?

thanks

[rrswong]

The marketing mix is a marketing strategy, and competitors are a factor to be considered when you're analysing the effectiveness of the marketing mix. If that makes any kind of sense.

[KiwiFruit]

Hey Ben, Wouldn't competitors affect all/most of those P's. Price, what price you set will probably be determined on what the others are setting it at.

[Taigan]

Hey Ben, Wouldn't competitors affect all/most of those P's. Price, what price you set will probably be determined on what the others are setting it at.

Actually, competitors don't fall into any of the marketing mix. The marketing mix a combination of elements that a business will use to market it's products. The 4 P's (Product, Price, Place, Promotion) refer to goods. The 7 P's refer to services (4 P's as well as People, Process and Physical Evidence). Therefore, competitors are not a part of the mix, but effect the certain elements. For example: Price. A new business would probably want to set its prices in the same range as its competitors (or rather, lower than the range) so that it can penetrate the market. This is an example of how competitors effect the marketing mix. Other obvious elements they effect are the Place where the product will be located as well as the Promotion methods (if there are many competitors, the business will try to promote using a media that will reach a large number of people e.g. television or radio.)