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Summary of Article
Summary of Article
The three columns describe the action that the company A will take, thy can be related to price,
quality and advertising, The three rows describe the actions that will be taken by Company B in
response to the action of the company A, the actions will also be in the limited dimensions of
Price, Quality and advertising. The table describes the actions percentage to the reactions and
hence the sum total needs to be 1 or 100%
Additional Mix
There needs to be additional marketing mix needed to be added to make the mix ready to
referred to in the real world.
1. Promotion- Promotions include incentives for short-term price cuts and consumer
coupons, contests and price subsidies; It involves prices and communication. In many
industries and companies, commerce and consumer promotion represent a larger part of
the budget than advertising or personal sales.
2. Brand- Brand is considered to be part of communication and hence it is considered to be
an integrative force to prince policy decisions together
3. Terms and Conditions- The terms and conditions relate to the numerous elements of a
contractual nature (terms of payment, credit, lease, delivery schedule, etc.) that are
closely related to the price. But they are very close to personal sales, and I think they
should be seen as an interface between price and communication. Elements such as
service support and logistics arrangements also apply to product policies. It is important
not to classify these problems, but to treat them as marketing tools.