Why Is The Product Element Of The Marketing Mix Important?

Why Is The Product Element / Part Of The Marketing Mix Considered To Be The Most Important?

Product element of Marketing Mix is considered to be the most important part of marketing mix, as it directly related with the customers or consumers’ satisfaction and experience. If the product itself is of bad quality then other elements become irrelevant because the consumers want a good quality product even if the price is high or the location of the business is not near from their homes, but they buy because of its good quality. A product's unique benefits and features can give the company an edge over its competitors in the marketplace and help in building brand equity among customers.

Among all of the elements of marketing mix (7P’s i.e., Product, Price, Promotion, Place, People, Process and Physical Evidence), it is the product or service for whom all of the remaining parts of marketing mix take place i.e, price is charged against the exchange of quality product or service, promotion is made for promoting it, a good place is located for selling business’ products or services, skillful and talented sales staff is hired to make contact with customers to sell quality product or service, packaging is good and physical evidence is available for the product, etc.

So, consumers look for a product function, durability, design and quality when they are willing or having a strong Demand to purchase it. Other parts of marketing mix are less important as compare to it but these all parts of marketing mix works well altogether and ignoring any of these will make marketing strategy weak and unsuccessful.