e consumer has more input in the development, the consumer will be more satisfied with the product/service.
             o Packaging and Branding – This part of product deals with how a product is packaged, and how it looks. This is a very important part of the product, because it is not just the product that appeals to the consumer, it also the packaging. For example, Coke has spent a lot of time and money trying to perfect their can for their soft drink. People can identify a Coke without the words; they can recognize it by the trademark red can with the swirl.
             • Price – This is the amount that a consumer is willing to pay for the product/service. This will be based upon demand and elasticity of the price (Anderson 2000). For example, the Sony Playstation II was being sold for $299.99, however the market would sustain a price of over $500 for the product do to the short supply. Sony did not raise their price, however they could have, and still sold the product.
             • Place – This refers to how the product or service reaches the consumer. Products or services go through channels to reach consumers. Businesses look at this area to streamline, reduce costs and make it more efficient to bring the product/service to the consumer. This also an area that is seeing more growth in the direct marketing sector, with manufacturers developing outlet business, allowing manufactures to reach the consumer directly. This has passed saving on to consumers, increased profits for manufacturers, and allowed manufactures to recoup profit from items that were created less then perfect.
             • Promotion – This is the last Marketing Mix element; it is made up of many methods of communicating with and influencing consu
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