3_307MktgMix - U SC M ar k eting 307#3 M ar k eting M ix 1...

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USC Marketing 307 • #3 Marketing Mix © 2006 Ira S. Kalb. All rights reserved. 1 1. What is the Marketing Mix ? Combination of the 7 building blocks in various amounts to build marketing strategies to achieve Market Plan goals. 2. Cake analogy The Marketing Mix is analogous to baking a cake. 2-1. If there is too much or too little of one ingredient or it is not properly baked, the cake will not taste good. 2-2. Once the ingredients are mixed and heat is applied, you cannot break the cake down into its constituent ingredients. 1. Marketing Mix — As with the cake, the ingredients have to be in balance , and if you try to change one building block, it will affect the others. 3-1. Once mixed, the building blocks are connected. You cannot change one building block without affecting all the others. 3-2. Don’t be out of balance. Changing one ingredient can throw the mix out of balance, and you’ll have a too salty or too sweet cake. 3-3. Rebalance everything. If you have to change one building block,
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