Marketing Mix Paper

According to the text, Principles of Marketing, marketing mix is made up of four things: product, price, place and promotion. Further, there are four Cs that go along with these four Ps: consumer solution, customer cost, convenience and communication. (Kotler) Building lasting lifetime relationships is what every company desires. To create that, customer satisfaction must be at the top of the

As per Ian Ruskin Brown and Greg Clark “ Marketing mix is the term used explaining the different elements comprising the offer that the different companies makes to their customers”. (Brown and Clarke, 2000:44). E.Jerome McCarthy in early 1960s came up with the four Ps in the marketing mix. According to him these 4ps are “ Product, price, place and promotion”.( McCarthy and Shapiro 1975: 35). Refer Appendix I for the pictorial representation. But the view of Richard Sandhusen is that the four marketing mixes should be ‘price, product, promotion and distribution’ (Sadhusen, 2000:319). According to Steven Stralser ‘in order to create a marketing strategy and plan that touch all the areas of marketing to position a product, maximise revenue etc a few more components have to be considered which are, Marketing segmentation, Marketing Strategy, Marketing research , Pricing, placement and value chain.’(Stralser,

Braaap has four main distinct components in its marketing mix. These four components are super lite, kids, road and electronic. The four different components of marketing mix serve different needs of different groups of targeted customers.

The marketing mix is a combination of 4 P’s (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. ‘The marketing mix is designed to produce mutually satisfying exchanges with a target market’.

A business must be highly competitive in the business markets today. For a business to grow successfully, remain sustainable, and competitive a business needs a good understanding of a marketing plan, and the knowhow to put the concepts to work for the business achieving a successful marketing strategy. Remaining successful when an economic growth has leveled out shows a sustainable business. Competitors that follow the same marketing concepts will need to develop a good marketing plan, and implement the concepts into a marketing strategy to remain a competitive business. A good marketing strategy contains a marketing plan describing the products offered, and taking into account

The marketing mix is what most marketing people call "the 4 P's" and it consists of Product, Price, Place, and Promotion. "Some people will increase the marketing mix to the "five P's", to include people. Others will increase the mix to "Seven Ps", to include physical evidence (such as uniforms, or facilities) and process (i.e. the whole customer experience e.g. a visit to Disney World)" (Marketing Teacher, 2000). The marketing mix is a very important aspect of any marketing strategy and contains "the controllable variables the company puts together to satisfy the selected target group" (Perreault and McCarthy, 2004, Ch 2).

Marketing mix can be describes as "the use and specification of the 4 Ps describing the strategic position of a product in the marketplace… A prominent person to take centre stage was E. Jerome McCarthy in 1960; he proposed a four-P classification which was popularized. (wikipedia.com)" The marketing mix approach to marketing is a model of creating and implementing market strategies. The marketing mix stresses the mixing of different factors in a way that both organizational and consumer or target markets objectives are attained. The 4 Ps of marketing are Product, Place, Promotion and Price. Each plays a key factor in the overall successful marketing of a product or service.

Setting the right marketing mix for the product or service means that it including all of the important bases in marketing strategy. The marketing mix is generally established as the use and requirement of the 4P’s which is describing the strategic position of a product in the marketplace. One version of the beginning of the marketing mix starts in 1948 when James Culliton said that a marketing decision should be a result of something related to a methods and he described the marketing manager as a “mixer of ingredients”.

Marketing mix is when the right product is put in the right place, at the right time, and at the right price. When an organization or company creates a product that attracts individuals and put it on sale or offer it to individuals it should may be place at a price in which it matches the value of the product and is worth what the consumers or individuals get out of it. The 4 Ps of marketing and the marketing mix are sometimes used as synonyms for one another because they are close to being the same thing. The 4 Ps of marketing mix are product, place, price, and promotion. Each component of the marketing mix has some type of importance and are given an equal abundance of importance. In the marketing mix the customer is the

'Place ' is concerned with various methods of transporting and storing goods, and then making them available for the customer. Getting the right product to the right place at the right time involves the distribution system. The choice of distribution method will depend on a variety of circumstances. It will be more convenient for some manufacturers to sell to wholesalers who then sell to retailers, while others will prefer to sell directly to retailers or customers.

The four P’s of a marketing mix are as follows, product, price, place, and promotion. Each of these offers a marketing parameter for the management and company team to control. With each marketing tool there are decisions that should be met as far as the business is concerned. Therefore, there is a list for each one that should be analyzed to meet the business standards.

The four Ps of the marketing mix have a number of weaknesses in that they ignore or underemphasize some important marketing activities. For example, services are not explicitly mentioned, although they can be categorized as products as well, other important of marketing activities is such as packaging. Packaging are not specifically needed but if the packaging are attractive it will also increase the number of

The four Ps approach to marketing has been widely regarded as the traditional approach to marketing. While the value approach concentrates on delivering value to the consumers or customers, the 4Ps approach is evidently concentrated not on customers, but on the product itself. The major elements of the four Ps approach of marketing are product, price, place, and promotion; by that, the four Ps elevate product in the marketing plan while the value approach components are creating, communicating, delivering, and exchanging offerings.

The marketing mix concept often referred to as the “4Ps” (McCarthy, 1964), as a means of translating marketing planning into practice (Bennett, 1997) is one of the fundamental concepts of marketing theory. Marketing mix is not a scientific theory, but merely a conceptual framework that identifies thee principal

Numerous people believe the thought of marketing and sales being the same thing. Conversely, sales are only one bit of the entire marketing process. In order to comprehend the idea, it is crucial to understand the marketing mix. Prior to a business choosing to launch an item into the business sector there are variables and components that should be considered. Variables in marketing are considered part of the marketing mix that is set up before the advertising program begins which thus characterizes the four factors known as “the four Ps”. The variables in advertising will decide the components of the item and how the purchaser or client sees the item. The “four Ps” consist of product, price, promotion, and place.