{"id":917,"date":"2015-09-21T05:26:11","date_gmt":"2015-09-21T05:26:11","guid":{"rendered":"https:\/\/courses.candelalearning.com\/waymakerintromarketing1xmaster\/?post_type=chapter&p=917"},"modified":"2016-02-18T17:14:59","modified_gmt":"2016-02-18T17:14:59","slug":"reading-optimizing-the-marketing-mix","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/chapter\/reading-optimizing-the-marketing-mix\/","title":{"raw":"Reading: Optimizing the Marketing Mix","rendered":"Reading: Optimizing the Marketing Mix"},"content":{"raw":"\"Photo<\/a>\r\n\r\nWith a clear understanding of the corporate objectives, marketers must decide\u00a0which strategies and tactics will best align with and\u00a0support them.\r\n\r\nThis is rarely a simple decision. Markets are constantly changing, and buyer behavior is very complex. The marketer must evaluate all aspects of the marketing mix and determine which combination of product, price, promotion, and distribution\u00a0will be most effective.\r\n\r\nDecisions about the marketing-mix variables are interrelated. Each of the marketing-mix variables must be coordinated with the other elements of the marketing program. Consider, for a moment, a situation in which a firm has two product alternatives (deluxe and economy), two price alternatives ($6 and $3), two promotion alternatives (advertising and coupons), and two distribution alternatives (department stores and specialty stores). Taken together, the firm has a total of sixteen possible marketing-mix combinations. Naturally, some of them will be\u00a0incompatible, such as the \"deluxe\" product and low price combination. Nevertheless, the organization must consider many of the possible alternative marketing programs. The problem is magnified by the existence of competitors. The organization must find the right combination of product, price, promotion, and distribution so that it can gain a differential advantage over its competitors. (All of the marketing mix elements will be discussed in more detail in other modules of the course.)\r\n\r\nRecall that\u00a0Southwest Airlines created a company strategy to\u00a0expand its target market to include business travelers. One of its objectives was to\u00a0grow revenue and market share to achieve specific targets by expanding into the business traveler market.\r\n\r\nWhich marketing strategies are needed to support such a\u00a0corporate strategy? To answer that, Southwest had to investigate\u00a0the four Ps:\r\n