The marketing mix and marketing strategy
A completed marketing strategy makes use of all the 4Ps: product, price, place and promotion.
Impact of legal controls on marketing strategy
- Laws to protect consumers from faulty products
- Laws to protect consumers from false advertising
- Laws to protect consumers from dangerous goods
Problems of entering new foreign markets
| Problems | How to overcome them |
|---|---|
| Language barriers | Hire specialists |
| Differences in laws | Conduct detailed market research beforehand |
| Differences in market trends | Form a joint venture with a business from the country of interest |
| Differences in product pricing |