How can the Marketing Mix be affected by Competitions?

If there is none: -The Product will have little thought on updating/developing, as well there is nothing else to Challenge it -The Price will be set high, as again no other products can Challenge it. [More Profit] -The Promotion just simply needs to be Alerted by the Market really. Your the Only Business in that Market. -The Place should be more Convenient of the Business, rather then the Customer, because, no else is Selling the Product If there is: -The Product will have to be reviewed again and again. Even bringing in New Models, to win Customers over. Quality and Customer Service is essential for survival -The Price will have to be Reduced to challenge Competitors. Profits will suffer -The Promotion has to Attract New Customers and keep its Existing Customers -The Place has to be Convenient on behalf of the Customer needs. This could be an Increase in Distributions or Opening Costs