A company that wants to quickly change its revenue or market share would change a part of the marketing mix price.
When a company gains market share, what does it do?
A company begins to dominate an industry when its market share grows. A company can exercise certain powers, such as increased bargaining power, with increased industry dominance.With suppliers and members of the distribution channel, the company begins to gain the upper hand and can negotiate to its advantage.
Pricing is the only part of the marketing mix that brings in money; the other three are cost centers, or they make a company more expensive.The business model is strongly correlated with pricing.The company's revenue streams are conceptually represented in the business model.
How important is price in the marketing mix?
Price is probably the most important part of the marketing mix because it ultimately decides how much money a company makes and how long it stays in business.
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