Rue�s Bed & Breakfast By Ruth Cope It is important for an organization to have a good understanding of the marketing mix. Price: What is the highest amount that the customer will pay for the product or service? Many times setting the incorrect price level is the beginning of the end for an organization. An organization must be sure that the price is not too high or too low. When an organization is starting out, it is important that they focus their price levels on breaking-even. A break-even analysis is necessary to determine the price to set to avoid a loss. Product: What you are trying to sell to the customer. An organization needs to have an in depth understanding about what it is they are marketing. Development of the product�s size, quality, design, brand name, packaging are important when trying to match with customer�s needs and wants. An organization should explain how their product�s features benefit the customer. Place: Where the customer meets the product. An organization needs to make sure the product or service they are offering is in the appropriate location w......

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