MANAGEMENT

Detailed explanation-1: -Technological advances can create many opportunities for businesses, but it often means changing their marketing mix e.g. to enable them to interact with customers through increasingly popular technologies such as online messaging and digital advertising.

Detailed explanation-2: -The impact of e-commerce on the marketing mix Customers can compare prices across online sellers easily, so prices need to be competitive. Selling online provides another way for customers to make a purchase at any time, wherever they are.

Detailed explanation-3: -Technological advances create many opportunities for businesses. This means that a business’ promotional mix may need to change to enable it to interact with its customers through increasingly popular technologies (such as online messaging and digital advertising).

Detailed explanation-4: -The marketing mix consists of the four key elements of a marketing strategy: product, price, place and promotion.