Marketing Mix

“Marketing Mix” is made up of 4P’s of marketing. This tool blends these variables together to produce the results it wants to achieve in its specific target market. “Brand Position” mentions to consumer’s reason to buy the products in preference to others.

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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’.

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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”.

The term "marketing mix" was coined in 1953 by Neil Borden in his American Marketing Association presidential address. However, this was actually a reformulation of an earlier idea by his associate, James Culliton, who in 1948 described the role of the marketing manager as a "mixer of ingredients", who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried. A prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use.

Submitted By: Submitted To: M.Umair Sheikh Mam. Anushey Reg# NI-F7-BBA-212 3rd Semester Date: 21st October, 2008 Introduction: Marketing Mix is a major concept in modern marketing and involves practically everything that a marketing company can use to influence consumer perception favorably towards its product or services so that consumer and organizational objectives are attained, i.e. Marketing mix is a model of crafting and implementing marketing strategy. There are four P’s in marketing mix which are: 1. 2. 3. 4. Product Price Place (Distribution) Promotion. SONY Corporation Sony Corporation is a multinational conglomerate corporation headquartered in Tokyo, Japan, and one of the world 's largest media conglomerate with revenue of

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.

In the modern marketing, companies and brands face a high level of competition in order to gain new market shares and maintain their existing market shares. In order to make sure that this is a success, marketing communication has become very crucial (MARTIN, 2003). The increase in globalization has also made the marketing mix necessary in order for companies to succeed and remain in business. The marketing mix consists of four components which are

Researchers asserts that Marketers should consider how to position the product, how to exploit the brand, how to exploit the company 's resources and how to configure the product mix so that each product complements the other. The marketer can consider product development strategies like Apple. For example, the iPad is a good example of a product; it is a tablet device with several features. It has a touch screen that meets with the consumer’s requirements today, it is very thin, has the ability to access the internet, music, videos, photos and it complements other product in its family such as the iPhone or the Mac.

In this coursework I will explain how marketing mix can contributed to the success of my new product and why is it useful for tool of analysis. Marketing Mix talks about targets or sets of actions that a company uses to promote its brand or product in the market. In addition marketing mix is very important to businesses such as me and other well-known companies. This is because using marketing activities you will have to study in the correct places for any market research activities before making a product. After the data had been collected businesses can use the statistics in order to construct the right product, features and appearance for their customers.

The marketing mix is a desirable place to begin when you are thoroughly considering creating a new product or service, and it offers you some