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Marketing Mix Essay example
My Marketing Mix
I am now going to create a marketing mix for my chosen product using the 4 P's, Product, Place, Price and Promotion.
Product
The product I will be reā€“launching is the Cadburys Double Decker bar with less calories than a traditional bar. This new reā€“launch of a chocolate bar
will be a limited edition chocolate bar. The idea being limited edition is to make a substantial profit in a short period of time. Although the product
will say limited edition I aim to keep these on the shelves for the next year. This way people will buy them as they are new and if they believe they
are for a limited time only they may buy a vast quantity of them. All of this will result in Cadburys PLC receiving a good profitable income...show more
content...
The original packaging I believe is not very successful as it doesn't grab your eyes when scanning the shelves; therefore I will change it so it looks very
appealing so this be even more beneficial to Cadburys PLC.
The research which I asked my target market to take out was reliable for my product and from the results it is clear to say that the idea of a low
calorie chocolate bar is definitely the most popular. 95% of the sample size opted for a low calorie bar which is a huge majority. This will go down
well with the public as government statistics show that the 74% of female's in my target market are concerned about their weight.
The majority of the people who filled out the questionnaire brought chocolate 2ā€“4 times a week which could lead to a very profitable financial income
for Cadburys PLC if my marketing campaign goes well. Statistics show that the UK spend an average of Š’Šˆ1.80 per week on chocolate which means
my findings would support these results if they were to buy chocolate four times a week at 42p would be Š’Šˆ1.68.
Price
From my survey finding out an appropriate price from my target market is probably the most important piece of information for Cadburys PLC as
we need to find the best price for the users of this product. If the price is too low many people might buy it but the financial income may not be as
profitable. If
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Marketing Analysis : Marketing Mix Essay
The definition of 'marketing' is widely debated among numerous professionals within the industry, The Chartered Institute of Marketing defines the
concept as 'the management process responsible for anticipating and satisfying customer requirements profitably' whereas Kotler and Armstrong define
marketing more simply as 'managing profitable customer relationships'. Fullerton and Mers go into more depth and consider how the idea of marketing
is presented when in the context of the sporting industry, they believe 'sports marketing consists of all activities designed to meet the needs and wants
of sports consumers through exchange processes'.
There are various formats of the marketing mix in circulation, it is essentially a set of considerations taken into account by business orientated
organisations, including professional sports clubs, so that they can operate at optimum efficiency whilst attempting to achieve their particular market
objective(s). The extended version of the marketing mix consists of; Product, Place, Price, Promotion, People, Process and Physical Evidence. It is
called the Marketing Mix because each element will be used in different combinations depending upon the needs and characteristics of a particular
market. External economic influences, changes in consumer behaviour and emerging technologies will cause the mix to be adapted in response to
change.
The 'Product' aspect refers to the actual good presented to the consumer, whether that be tangible or
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Marketing Mix Essay
Marketing Mix The "Marketing Mix" is a term used to describe the combination of tactics used by a business to achieve its objectives by marketing
its products or services effectively to the customer. It is also known as the 4 P's Product, Price, Promotion, and Place. The marketing mix is also
known as the '7 P's', when you add people, process, and physical evidence to the first four. The importance of the marketing mix is for businesses to
make sure they are marketingā€“ o The right product to o The right person at o The right price in o The right place and at o The right time (The
Chartered Institute of Marketing,2004) The mix of the 4 P's, must reflect the wants and desires of the consumers in the target market....show more
content...
online vs. retail), which geographic region or industry, or to which segment of people it will be sold (Marketing, 2007). If selling is done through
wholesalers and retailers, we must remember when we price the products, they will each want their own markā€“up to cover their overheads. You will
also need to promote your products and services to all members of the channel. Wholesalers and retailers will have to be persuaded to stock the
product and end customers to buy them. If you are selling to businesses you will have to cover the cost of a sales force. This can be very expensive and
will again impact on your pricing. Price generates profit, so it is an important element of the mix. You need to consider what your target group of
customers will be prepared to pay for your product or services. It is important not to set the price too low, as customers may think there is something
wrong with the product. Equally, you do not want to set the price too high; customers may think it is too high for the benefits. Consider what it costs
you to produce it. This will show you what you need to charge and not what you could or should charge. We must also make an allocation for costs
such as selling, which are usually treated as fixed. Follow up on the competitor's web sites, locations, or simply phone them and ask for a price list or
quotation (The Chartered Institute of Marketing, 2004). Promotion is
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Marketing Mix Essays
The marketing mix is primarily made up of four variables, and they are product, place, price, and promotion. These variables are often referred to as
the four P's. Many sources often describe the marketing mix as a recipe used in developing a viable marketing strategy, with each ingredient being
used different ways and at different times based on the product or service one is trying to market. This paper will utilize three sources to describe the
elements of the marketing mix. It will also describe how each one of the four elements of the marketing mix impacts the development of an
organization's marketing strategy and tactics....show more content...
The article summarizes how Jerome McCarthy who referred to the marketing mix as the four P's, defines how the elements are to be used. He states
that marketers have these elements available to them to assist in developing a marketing strategy. However, the elements are more useful in
developing long term strategies versus short term strategies from a marketing perspective. The article continues to provide a history of how the
marketing mix evolved and how several variables were added to the original four P's outlined by McCarthy, but most academically accepted are
product, place, price, and promotion. The Netmba.com website defines the marketing mix as "the parameters that a marketing manager can control,
subject to internal and external constraints of marketing environment". The goal is to generate a positive response from the target market. Just as the
Wikipedia.com website has described more parameters being added into the marketing mix, so has the Netmba.com website, however Netmba.com also
stresses that the four P's are the basis for most marketing text books.
Elements of the Marketing Mix As stated earlier the elements
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Marketing Mix Essay
Marketing mix for competitive advantage:
Introduction:
The main intention of market research is to analyze the demand of customers. In fact, consumers are so close with the market research and product
development to their integration into the 4 Psā€“ā€“that people might even be called: The fifth "P" of marketing. The four P's of effective marketing mix
strategy was developed by McCarthy. Focusing upon customers, company could take right decision for the customers, according to the right place and
distribution outlets, and the proper way for approaching the products. Marketing is all about creating beliefs to drive buying. So whether they are
focused on the product, price, place, or promotion, successful marketing strategies and tactics...show more content...
In the primary stage companies like L'ORŠ“ā€°AL is maintaining competitive advantage would be product development, and with the expanding of the
product range company is getting advantage. Quality between local and international standard may differ. L'ORŠ“ā€°AL also can produce a regional
version of its product such as a western European version and getting a competitive advantage. Although invention of new product is tougher rather it is
maintain the international market in a competitive advantage to maintain the international marketing strategy. There is enormous need in less
developed countries for low cost high proteins foods. L'ORŠ“ā€°AL can offer its consumers a oneā€“stop shop opportunity by providing majority of the
products that they are looking for in one area. So that they could easily motivate their customers to buy their products. If the quality of the products
bought satisfied the needs and preference of the consumer then the L'ORŠ“ā€°AL will lead to consumer loyalty and retain the customers and repeated
consumption. Mainly L'ORŠ“ā€°AL finds success by focusing the product aspect of their marketing mix on what people need and want.
Price:
Price, another effective element of marketing mix, which deals with the price of the products or services. And mainly success totally depends on that
company who charged the right price and a competitive price in the market. Cause price is not fixed for ever for the customers. When the
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Marketing Mix
Marketing Mix
MKT 421 Marketing
Introduction
Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in
marketing to keep consumers interested in their products and services. The success of a company may rely on the company's marketing performance.
Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed.
Developing a marketing strategy will consist of the marketing mix.
The marketing mix is "the strategic plan that defines the company's overall mission and objectives". (Armstrong & Kotler, 2011) Sprint will be
used as an example as to how they...show more content...
In marketing a place is also known as the warehouse where, in this case, Sprint houses their phones for distribution so it is available for its customers.
Third P Element: Pricing
Pricing is a crucial part of the four Ps. Price is also considered a flexible marketing mix element. Marketers must consider the research, development,
and services when pricing. In addition, marketers have to think about the how their company will price their products and services based on how
much they will spend on fabrication and how competitors are pricing the same products and services. Customers are an important thought in the
pricing process as well because they are the ones that are going to produce the revenue for the company. Marketers are also at the mercy of the
economy; they will have to price low enough to get a good number of customers and gain a profit, but no low enough that they will get financially hurt
in the process.
Producing the right or good price for products and or services a company might have to consider redesigning products and services that may already
exist. Sprint might offer better phones at a lower service plan or a better service with less expensive plan. Many times Sprint offers free phones to get
new customers to purchase their service plan. Customers are given several
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Marketing Analysis : Marketing Mix Essay
Introduction
Marketing plays a more and more important part in people's daily lives. It's hard to give a specific describe for marketing, but it does influence each
people's daily life even not everyone has a sense of marketing. It connects customer with business, its final purpose is making both customers and
companies happy. As companies should realize people's need and make their product have value for customers, they may figure out what's customers'
expectation, how to make the design, quality, how to public them, what services they need to offer, all of them should be considered using some tools.
Transnationally, this tool is marketing mix. It helps business to understand their marketing position and lead them to make a good performance in
market.
With the development of the marketing, marketing mix has considered in more range, 7p's is frequently used now. the main body of component is
product, place, piece, promotion, people, process and physical evidence. good understanding of this part build a foundation to run business. This essay
will help to using 7p's marketing mix to analyze how iPhone influence customer and create value in the market. Since iPhone firstly launched in 2007,
it has been successfully attract people's attention for 8 years. And the latest product iphone7/iphone7 plus still gathering many people's interesting and
make the product more valuable. How apple did that? It can be concluded follow: "It is about putting the right product or a
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What Is Marketing Mix? Essay
WHAT IS MARKETING MIX ???
"T.H.E marketing mix is a business tool used in marketing and by marketers.. T.H.E marketing mix is often crucial when determining a product or
brand 's offer, and is often associated with T.H.E four P 's: price, product, promotion, and place. In servicemarketing, however, T.H.E four Ps are
expanded to T.H.E seven P 's or Seven P 's to address T.H.E different nature of services"........
FOUR P'S OF MARKETING MIX ARE.......
1."PRODUCT :
A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service Tangible products are those that have
an independent physical existence. Typical examples of massā€“produced, tangible objects are T.H.E motor car and T.H.E disposable . A less obvious but
ubiquitous massā€“produced service is a computer operating.
Every product is subject to a life cycle including a growth phase followed by a maturity phase and finally an eventual period of decline as sales fall.
Marketers must do careful research on how long T.H.E life cycle of T.H.E product T.H.Ey are marketing is likely to be and focus T.H.Eir attention on
different challenges that arise as T.H.E product moves.
T.H.E marketer must also consider T.H.E product mix. Marketers can expand T.H.E current product mix by increasing a certain product line 's depth or
by increasing T.H.E number of product lines. Marketers should consider how to position T.H.E product, how to exploit T.H.E brand, how to exploit
T.H.E
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The Marketing Mix Essay
The Marketing Mix
Introduction
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".
In 1953, Neil H, Borden took that theories in his teaching. The term "marketing mix" became popularized after Borden published his article, The
Concept of the Marketing Mix in 1964....show more content...
)
The 4 P's of Marketing
How much to offer? What price to offer? Where to offer and how to offer? These 4 are the necessary questions to which the business must find an
answer and make the decision on it. These 4 P's relate the strategic positioning so that the returns are the maximum in any specified market. The mix is
also used to refer to the combination of the media for the promotion such as means of communication and television, newspaper and magazines,
advertising on billboards and the Internet.
Its goal is to make decisions that aim the four P's on the customers in the target market in order to generate perceived value and a positive response
from customers. Marketing decisions generally include the following four controllable categories:
Product
Nowadays, there are a lot more services available, such as those available online. Also, the characteristic between product and service has become more
complicated (e.g., Webā€“based software application is a product or a service?). However, product here refers to products or services. The product or
service features which should able to meet a specific, existing market demand. Or, it should be able to create a market position through building a
strong brand.
The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange,
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Marketing Mix Essay
Marketing mix are the set of marketing tools that firm uses to pursue its marketing objectives in the target market. The various variable of the
marketing mix :
1.PRODUCT MIX
2.PRICE MIX
3.PLACE MIX
4.PROMOTION MIX
Promotion is the important element of marketing mix. Promotion is related with all steps taken to provide information about a product to the customer.
It is a common mistake to believe that promotion by business is all about advertising. There are a variety of approaches that a business can take to get
their message across to customer althrough advertising is certainly an importanat one.
Promotion is all about communication. The main aim of promotion is to ensure that customers are aware of the existence and positioning of products.
Promotion is also used to persuade customer that the product is better than competing products and to remind customers about. Increase sales attract
new customers, encourage customer loyalty, encourage trial create awareness, inform remind potential customer reassure new customer change
attitudes create an image position a product, encourage brand switching to support a distribution channel.
The main methods of promotion are :
1.ADVERTISING
2.PUBLIC RELATION AND SPONSORSHIP
3.PERSONAL SELLING
4.DIRECT MARKETING
5.SALES PROMOTION
A business will use a range as promotional activities for its product, depending on the marketing strategy and the budget available.
The way in which promotion is targeted is split into two
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The Marketing Of Marketing Mix Essay
It show 7ps of marketing mix . Product ā€“ The Product ought to fit the undertaking purchasers need it for, it ought to work and it ought to be what the
buyers are hoping to get. Place ā€“ The item ought to be accessible from where your objective shopper thinks that its most effortless to shop. This might
be High Street, Mail Order or the more present alternative through eā€“business or an online shop. Price ā€“ The Product ought to dependably be seen as
speaking to great quality for cash. This doesn 't as a matter of course mean it ought to be the least expensive accessible; one of the principle precepts
of the advertising idea is that clients are generally glad to pay somewhat more to something that works truly well for them. Promotion ā€“ Advertising,
PR, Sales Promotion, Personal Selling and, in later times, Social Media are all key specialized instruments for an association. These instruments ought
to be utilized to put over the association 's message to the right groups of onlookers in the way they might most want to listen, whether it be educational
or speaking to their feelings. People ā€“ All organizations are dependent on the general population who run them from cutting edge Sales staff to the
Managing Director. Having the right individuals is fundamental since they are as much a piece of your business offering as the items/administrations
you are putting forth. Processes ā€“The conveyance of your administration is generally finished with the
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Marketing Mix
Marketing Mix
The terms of 'Marketing Mix' was first coined by Neil Borden, the president of the American Marketing Association in 1953. It is still use today to
make important decisions that lead to the execution of a marketing plan. The various approaches that are used have evolved over times, especially with
the increased use of technology.
The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's
offer, and is often associated with the 4Ps (price, product, place and promotion) in service marketing. In the 1990s, the concept of 4Cs was introduced
as a more customerā€“driven replacement of 4Ps. There are two theories based on 4Cs (consumer, cost,...show more content...
However, as long as our product launch in the first three months on the market to buy our watches enjoys 6ā€“8% discount and free GST. Addition, as
long as students or senior citizens will buy our watches 50ā€“100 ringgit allowance.
Where to buy our products must also comply with our rules and regulations as well as some of the payment deadline. We only accept credit cards,
debit cards, online banking, cash or delivery, and instalment payments via credit cards.
Place
Place includes the company activities that make the product available to target customers. In the era of internet, credit cards and phones people neither
need to go anyplace to satisfy a want or a need nor are limited to a few places to satisfy them. Marketers should know how the target market prefers to
buy, how to be there and be ubiquitous, in order to guarantee convenience to buy. With the rise of internet and hybrid models of purchasing, place is
becoming less relevant. Convenience takes into account the ease of buying the product, finding the product, finding information about the product, and
several other factors.
Our products will allow customers to buy and understand through a variety of channels (Online or market). We will also put some of our products as
well as information on a variety of coverage, so that customers can easily understand. Example: newspapers,
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Marketing Mix, By Neil H. Borden
The Marketing Mix
The marketing mix, also referred to as the four Ps, represents a list of categorized, dynamic parameters of a product that define its value. Marketing
decisions are based on these four categories: product, price, place, promotion. The marketing manager controls these four parameters under the
constraint of the marketing environment. Managers to maximize the perceived value of the product, which, in turn, elicits a positive response and
optimizes or satisfies profit use marketing mis as a guide.
The marketing mix, as a marketing theory, was one of the first analytical contributions to the field of marketing. The concept was introduced by Neil H.
Borden in his 1964 article "The Concept of Marketing Mix," and subsequently popularized in his teachings. The marketing mix quickly dominated over
other approaches and models, such as the organic functionalist approach, systems oriented approaches, and the institutional approach, becoming the
major paradigm of academic research (Gronroos, 2005). Borden had been inspired by James Culliton, who had referred to a manager as a "mixer of
ingredients" (Gronroos, 2005). Borden's formulation consisted of planning, pricing, branding, distribution channels, promotions, personal selling,
advertising, packaging, display, physical handling, servicing, and factā€“finding and analysis. E. Jerome McCarthy later categorized Borden's
constituents into the four Ps.
Being a list the four Ps can never be truly comprehensive for all
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Marketing Mix Essay
The term marketing mix is defined as a set of marketing tools that the firm uses to pursue its marketing objectives in the target market. The marketing
mix is an essential part of the formulation of a firm's marketing strategy. It is important for an organization to have a good understanding of the
marketing mix. Each element is important when developing a marketing plan. Traditionally, the marketing mix consisted of four broad categories of
variables known as the 4 P's: product, place, price and promotion. These are the variables the firm can control in order to best satisfy customers in the
target market.
Product
The first element in the marketing mix is the product. A product is any combination of goods and services...show more content...
The last major product Home Depot offers is being a supplier resource for the professionals. By offering products to both homeowners and contractors,
Home Depot has captured a larger market share.
Place
Once an organization has developed the "products" to satisfy the target market(s), place would be the next concern with all the decisions involving in
getting these "right" products to the target consumers. Place decisions are those associated with channels of distribution, which include market
coverage, channel member selection, logistics, and levels of service etc. With Home Depot, they have increased its points of access, where customer
can buy its products easily. Usually, these stores are opened within 10 miles from a major residential community, or adjacent to another major retailer
such as Target or Wal
ā€“Mart.
For those customers are not able to access local stores, Home Depot serves these clients through online website. With the development of the Internet,
Home Depot is able to sell to target markets in rural areas. Home Depot has created online portals just for suppliers and professional customers. Its
online store has reached more customers, amplified Home Depot's exposure, and drastically increased their revenues.
Price
"In addition to developing
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Marketing Mix
1.Short notes
A)Marketing Mix variables (The 4 P 's of Marketing)
The major marketing management decisions can be classified in one of the following four categories: * Product * Price * Place (distribution) *
Promotion
These variables are known as the marketing mix or the 4 P 's of marketing. They are the variables that marketing managers can control in order to best
satisfy customers in the target market. The marketing mix is portrayed in the following diagram:
The Marketing Mix
Product| | |
Place| | | | | | | | |
Target
Market| | | | | | | | | | Price| | |
Promotion| |
The firm attempts to generate a positive response in the target...show more content...
Jon Elster calls this pattern "adaptive preference formation."[1]
d)The Marketing Environment
The market environment is a marketing term and refers to all of the forces outside of marketing that affect marketing management's ability to build and
maintain successful relationships with target customers. The market environment consists of both the macroenvironment and the microenvironment.
The microā€“environment
This environment influences the organization directly. It includes suppliers that deal directly or indirectly, consumers and customers, and other local
stakeholders. It is a more local relationship, and the firm may exercise a degree of influence.
The macroā€“environment
This includes all factors that can influence and organization, but that are out of their direct control. A company does not generally influence any laws
(although it is accepted that they could lobby or be part of a trade organization). It is continuously changing, and the company needs to be flexible to
adapt. There may be aggressive competition and rivalry in a market. Globalization means that there is always the threat of substitute products and new
entrants. The wider environment is also ever changing, and the marketer needs to compensate for changes in culture, politics, economics and technology.
e) Variety seeking buying behavior
Some buying situations are characterized
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Marketing Mix Essay
Abstract
The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again
referred to as the four P's. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each
component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to
market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. It will also express how each one of
the four elements of the marketing mix impacts the expansion of an organization's marketing strategy and tactics.
Marketing Mix...show more content...
If so, you'll probably want to order and stock it and sell it directly from your business. If it's something they don't need to see before buying it, you
need to make sure that it's delivered promptly to them and is what they expected when they bought it.
"Price" is what it is. Nevertheless, the right price is instrumental to the success of any business. If your price is elevated consumers will not purchase
it & will look elsewhere for a more feasible price. On the other hand, if the price it too low will miss out on considerable proceeds. Therefore, it is
essential to price appealingly in order to attract and maintain customers.
Marketingteacher.com defines "Promotion" as the tools available to the marketer for 'marketing communication'. Tools such as personal selling, public
relations, advertisement, direct mail, trade fairs and exhibitions can all be used to promote your product or service. Consumers need to know the
features and benefits, location and the quality of the services you have to offer. Promotion is a vital element to any business. Without successful
promotion your business consumers will not know where to purchase your product or service or why your products and services are better than the
competitions.
By using variations of these four components you have the capability to attain multiple consumers within your intended market. Establishing a
successful marketing mix that will boost results usually takes
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Marketing Mix Essay
Marketing Mix Paper Marketing encompasses everything from the products or services one sells, to how they are distributed to the customer. A
Marketing Mix is the combination of products offered to reach a target market for the organization. "Marketing is much more than selling, or
advertising (Cap Com Marketing, 2006)." The marketing mix is comprised of the Product, Price, Promotion, and distribution. The marketing mix is also
known as the four P's.
Worldwide, approximately 10 million people suffer from blood clots every year." Since 1997, Possis has become the leading provider of mechanical
thrombectomy products by marketing its AngioJet System through a direct sales force, developing a United States customer base of more than 1,500
...show more content...
As a clinical member of the Angiojet trials held at Lakeland Regional Medical Center, studies were documented and tracked according to standards set
by the Food and Drug Administration and Joint Commission on the Accreditation of Healthcare Organizations (JHACO).
The Angiojet System consists of a tiny device that attaches to a cannula in the femoral artery. The catheter is then advanced to the peripheral artery
containing the blood clot. " Once properly positioned, the pump of the angiojet is activated, delivering a saline solution under high pressure out
through the pump jets, into the artery, and directly at the blood clot (Angiojet Thrombectomy, 2004)." Saline jets create a vacuum, which causes the
clot to break up. The pieces of the clot are then removed through the catheter. Next, the catheter with angiojet device is removed; pressure is applied to
the area to prevent bleeding. The patient is required to lay flat for several hours to prevent bleeding.
Four Elements
The four components of the marketing mix are used to shape market demand. To facilitate transactions, the four P's, Product, Price, Promotion, and
Distribution are used.
Product and Service include individual goods. Features contained within a product line may have benefits to meet consumer needs and wants.
Companies use market research to identify the needs and wants of the
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Marketing Mix
Marketing Mix Decisions
IE 153ā€“WSWX
Marketing Mix
The term "marketing mix" became popularized after Neil H. Borden published his 1964 article, "The Concept of the Marketing Mix". Borden began
using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in
Borden's marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http:/
/www.quickmba.com/marketing/mix/ advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E.
Jerome McCarthy later grouped these ingrediThe 4 P's of Marketing ents into the four categories that today are known...show more content...
It begins with a careful review of the product safe, and inexpensive to use and service; and simple and and its benefits, the target market, and proposed
marketeconomical to produce and distribute ing strategies. Once chosen, the brand name must be protected. Branding ā€“ Criteria for Choosing a
Brandname Familiar brands provide consumer information, recognition, Distinctive ā€“ is the brand closely associated with a and confidence. product?
Word Associationā€“ does it have a pleasant meaning? Legal Requirements ā€“ can it be registered? Memorability ā€“ can your name be remembered easily?
Source: Armstrong, Gary and Kotler, Philip. Principles of Marketing, 7th Edition. Prenticeā€“Hall International, Inc. 1996 Pronounciability ā€“ can it be
pronounced easily? Limitations ā€“ is the brand name too limiting to be used for expansion Brand ā€“ a name, term, sign, symbol, or design, or a
combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them Brand Sponsorship 4
sponsorship options: from those of competitors. 1. Manufacturer's brand (national brand) ā€“ a brand created ā€“ It can be any of the following: and owned
by the producer of a product or service A propriety name like Jollibee or Microsoft 2. Private brand (or middleman, distributor, or store brand) A
nickname like McDo or B.K. ā€“ a brand created and owned by a reseller of a product A group of letters like "TGIF" restaurant or service
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Marketing Mix Essay examples
Marketing Mix
MKT 421
Tyson Foods promotes several different types of food in the food chain industry. They are ranked 96 in the Fortune 500 in America's largest
corporations. Tyson's produced poultry, beef, and pork, as well as providing the previous to several chain stores to use products. From McDonald
nuggets to the Subway sandwich, Tyson is one of the largest poultry processing plants in the country. Tyson also distributes bag in bag products to
stores which include Sam's and Walā€“Mart stores around the world. Tyson is best known for the appetizers and hot wings. Tyson has become one of
the biggest marketers of value added chicken, beef, pork, as well as distributors to retail grocers, food service distributors, and national fast...show more
content...
The commercials also helped get the word out in a humorous way to give insight and show how Tyson protein adds strength and energy to everyday
life. The marketing department specifically concentrates on things that focus towards consumer targets such as fast and easy or even preā€“cooked. A
major key point is to provide some relief to everyday consumer problems such as less prep time for meals or as easy as popping it into the oven.
Marketing paper advertisements are primarily for adults who prepare the meals for their selves or for the family. Television advertisement is done
solely without violence, prejudice, sex, and profanity. All marketing advertisement whether printed or aired on television does not disparage any
religion, ethnic, or political group. As an ongoing basis, Tyson thrives to identifying the distinctive markets and business opportunities best for the
company. Tyson is committed to finding the everyday solution for customers and the consumers through research and by coordinating a mix of
activities on both rational and emotional levels.
Tyson products are advertised through television commercial, radio stations, and newspapers. The way to attract the consumers to actually buy the
product is by distributing coupons and inā€“store ads. Other ways to distribute coupons is in magazine inserts, on the internet, as well as the official
Tyson webā€“site. When a customer is shopping in a local grocery store that is advertising Tyson products as a buy one get one
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Marketing Mix Strategies for Competitive Advantage

  • 1. Marketing Mix Essay example My Marketing Mix I am now going to create a marketing mix for my chosen product using the 4 P's, Product, Place, Price and Promotion. Product The product I will be reā€“launching is the Cadburys Double Decker bar with less calories than a traditional bar. This new reā€“launch of a chocolate bar will be a limited edition chocolate bar. The idea being limited edition is to make a substantial profit in a short period of time. Although the product will say limited edition I aim to keep these on the shelves for the next year. This way people will buy them as they are new and if they believe they are for a limited time only they may buy a vast quantity of them. All of this will result in Cadburys PLC receiving a good profitable income...show more content... The original packaging I believe is not very successful as it doesn't grab your eyes when scanning the shelves; therefore I will change it so it looks very appealing so this be even more beneficial to Cadburys PLC. The research which I asked my target market to take out was reliable for my product and from the results it is clear to say that the idea of a low calorie chocolate bar is definitely the most popular. 95% of the sample size opted for a low calorie bar which is a huge majority. This will go down well with the public as government statistics show that the 74% of female's in my target market are concerned about their weight. The majority of the people who filled out the questionnaire brought chocolate 2ā€“4 times a week which could lead to a very profitable financial income for Cadburys PLC if my marketing campaign goes well. Statistics show that the UK spend an average of Š’Šˆ1.80 per week on chocolate which means my findings would support these results if they were to buy chocolate four times a week at 42p would be Š’Šˆ1.68. Price From my survey finding out an appropriate price from my target market is probably the most important piece of information for Cadburys PLC as we need to find the best price for the users of this product. If the price is too low many people might buy it but the financial income may not be as profitable. If
  • 2. Get more content on HelpWriting.net
  • 3. Marketing Analysis : Marketing Mix Essay The definition of 'marketing' is widely debated among numerous professionals within the industry, The Chartered Institute of Marketing defines the concept as 'the management process responsible for anticipating and satisfying customer requirements profitably' whereas Kotler and Armstrong define marketing more simply as 'managing profitable customer relationships'. Fullerton and Mers go into more depth and consider how the idea of marketing is presented when in the context of the sporting industry, they believe 'sports marketing consists of all activities designed to meet the needs and wants of sports consumers through exchange processes'. There are various formats of the marketing mix in circulation, it is essentially a set of considerations taken into account by business orientated organisations, including professional sports clubs, so that they can operate at optimum efficiency whilst attempting to achieve their particular market objective(s). The extended version of the marketing mix consists of; Product, Place, Price, Promotion, People, Process and Physical Evidence. It is called the Marketing Mix because each element will be used in different combinations depending upon the needs and characteristics of a particular market. External economic influences, changes in consumer behaviour and emerging technologies will cause the mix to be adapted in response to change. The 'Product' aspect refers to the actual good presented to the consumer, whether that be tangible or Get more content on HelpWriting.net
  • 4. Marketing Mix Essay Marketing Mix The "Marketing Mix" is a term used to describe the combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to the customer. It is also known as the 4 P's Product, Price, Promotion, and Place. The marketing mix is also known as the '7 P's', when you add people, process, and physical evidence to the first four. The importance of the marketing mix is for businesses to make sure they are marketingā€“ o The right product to o The right person at o The right price in o The right place and at o The right time (The Chartered Institute of Marketing,2004) The mix of the 4 P's, must reflect the wants and desires of the consumers in the target market....show more content... online vs. retail), which geographic region or industry, or to which segment of people it will be sold (Marketing, 2007). If selling is done through wholesalers and retailers, we must remember when we price the products, they will each want their own markā€“up to cover their overheads. You will also need to promote your products and services to all members of the channel. Wholesalers and retailers will have to be persuaded to stock the product and end customers to buy them. If you are selling to businesses you will have to cover the cost of a sales force. This can be very expensive and will again impact on your pricing. Price generates profit, so it is an important element of the mix. You need to consider what your target group of customers will be prepared to pay for your product or services. It is important not to set the price too low, as customers may think there is something wrong with the product. Equally, you do not want to set the price too high; customers may think it is too high for the benefits. Consider what it costs you to produce it. This will show you what you need to charge and not what you could or should charge. We must also make an allocation for costs such as selling, which are usually treated as fixed. Follow up on the competitor's web sites, locations, or simply phone them and ask for a price list or quotation (The Chartered Institute of Marketing, 2004). Promotion is Get more content on HelpWriting.net
  • 5. Marketing Mix Essays The marketing mix is primarily made up of four variables, and they are product, place, price, and promotion. These variables are often referred to as the four P's. Many sources often describe the marketing mix as a recipe used in developing a viable marketing strategy, with each ingredient being used different ways and at different times based on the product or service one is trying to market. This paper will utilize three sources to describe the elements of the marketing mix. It will also describe how each one of the four elements of the marketing mix impacts the development of an organization's marketing strategy and tactics....show more content... The article summarizes how Jerome McCarthy who referred to the marketing mix as the four P's, defines how the elements are to be used. He states that marketers have these elements available to them to assist in developing a marketing strategy. However, the elements are more useful in developing long term strategies versus short term strategies from a marketing perspective. The article continues to provide a history of how the marketing mix evolved and how several variables were added to the original four P's outlined by McCarthy, but most academically accepted are product, place, price, and promotion. The Netmba.com website defines the marketing mix as "the parameters that a marketing manager can control, subject to internal and external constraints of marketing environment". The goal is to generate a positive response from the target market. Just as the Wikipedia.com website has described more parameters being added into the marketing mix, so has the Netmba.com website, however Netmba.com also stresses that the four P's are the basis for most marketing text books. Elements of the Marketing Mix As stated earlier the elements Get more content on HelpWriting.net
  • 6. Marketing Mix Essay Marketing mix for competitive advantage: Introduction: The main intention of market research is to analyze the demand of customers. In fact, consumers are so close with the market research and product development to their integration into the 4 Psā€“ā€“that people might even be called: The fifth "P" of marketing. The four P's of effective marketing mix strategy was developed by McCarthy. Focusing upon customers, company could take right decision for the customers, according to the right place and distribution outlets, and the proper way for approaching the products. Marketing is all about creating beliefs to drive buying. So whether they are focused on the product, price, place, or promotion, successful marketing strategies and tactics...show more content... In the primary stage companies like L'ORŠ“ā€°AL is maintaining competitive advantage would be product development, and with the expanding of the product range company is getting advantage. Quality between local and international standard may differ. L'ORŠ“ā€°AL also can produce a regional version of its product such as a western European version and getting a competitive advantage. Although invention of new product is tougher rather it is maintain the international market in a competitive advantage to maintain the international marketing strategy. There is enormous need in less developed countries for low cost high proteins foods. L'ORŠ“ā€°AL can offer its consumers a oneā€“stop shop opportunity by providing majority of the products that they are looking for in one area. So that they could easily motivate their customers to buy their products. If the quality of the products bought satisfied the needs and preference of the consumer then the L'ORŠ“ā€°AL will lead to consumer loyalty and retain the customers and repeated consumption. Mainly L'ORŠ“ā€°AL finds success by focusing the product aspect of their marketing mix on what people need and want. Price: Price, another effective element of marketing mix, which deals with the price of the products or services. And mainly success totally depends on that company who charged the right price and a competitive price in the market. Cause price is not fixed for ever for the customers. When the Get more content on HelpWriting.net
  • 7. Marketing Mix Marketing Mix MKT 421 Marketing Introduction Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company's marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix. The marketing mix is "the strategic plan that defines the company's overall mission and objectives". (Armstrong & Kotler, 2011) Sprint will be used as an example as to how they...show more content... In marketing a place is also known as the warehouse where, in this case, Sprint houses their phones for distribution so it is available for its customers. Third P Element: Pricing Pricing is a crucial part of the four Ps. Price is also considered a flexible marketing mix element. Marketers must consider the research, development, and services when pricing. In addition, marketers have to think about the how their company will price their products and services based on how much they will spend on fabrication and how competitors are pricing the same products and services. Customers are an important thought in the pricing process as well because they are the ones that are going to produce the revenue for the company. Marketers are also at the mercy of the economy; they will have to price low enough to get a good number of customers and gain a profit, but no low enough that they will get financially hurt in the process. Producing the right or good price for products and or services a company might have to consider redesigning products and services that may already exist. Sprint might offer better phones at a lower service plan or a better service with less expensive plan. Many times Sprint offers free phones to get new customers to purchase their service plan. Customers are given several Get more content on HelpWriting.net
  • 8. Marketing Analysis : Marketing Mix Essay Introduction Marketing plays a more and more important part in people's daily lives. It's hard to give a specific describe for marketing, but it does influence each people's daily life even not everyone has a sense of marketing. It connects customer with business, its final purpose is making both customers and companies happy. As companies should realize people's need and make their product have value for customers, they may figure out what's customers' expectation, how to make the design, quality, how to public them, what services they need to offer, all of them should be considered using some tools. Transnationally, this tool is marketing mix. It helps business to understand their marketing position and lead them to make a good performance in market. With the development of the marketing, marketing mix has considered in more range, 7p's is frequently used now. the main body of component is product, place, piece, promotion, people, process and physical evidence. good understanding of this part build a foundation to run business. This essay will help to using 7p's marketing mix to analyze how iPhone influence customer and create value in the market. Since iPhone firstly launched in 2007, it has been successfully attract people's attention for 8 years. And the latest product iphone7/iphone7 plus still gathering many people's interesting and make the product more valuable. How apple did that? It can be concluded follow: "It is about putting the right product or a Get more content on HelpWriting.net
  • 9. What Is Marketing Mix? Essay WHAT IS MARKETING MIX ??? "T.H.E marketing mix is a business tool used in marketing and by marketers.. T.H.E marketing mix is often crucial when determining a product or brand 's offer, and is often associated with T.H.E four P 's: price, product, promotion, and place. In servicemarketing, however, T.H.E four Ps are expanded to T.H.E seven P 's or Seven P 's to address T.H.E different nature of services"........ FOUR P'S OF MARKETING MIX ARE....... 1."PRODUCT : A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service Tangible products are those that have an independent physical existence. Typical examples of massā€“produced, tangible objects are T.H.E motor car and T.H.E disposable . A less obvious but ubiquitous massā€“produced service is a computer operating. Every product is subject to a life cycle including a growth phase followed by a maturity phase and finally an eventual period of decline as sales fall. Marketers must do careful research on how long T.H.E life cycle of T.H.E product T.H.Ey are marketing is likely to be and focus T.H.Eir attention on different challenges that arise as T.H.E product moves. T.H.E marketer must also consider T.H.E product mix. Marketers can expand T.H.E current product mix by increasing a certain product line 's depth or by increasing T.H.E number of product lines. Marketers should consider how to position T.H.E product, how to exploit T.H.E brand, how to exploit T.H.E Get more content on HelpWriting.net
  • 10. The Marketing Mix Essay The Marketing Mix Introduction 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". In 1953, Neil H, Borden took that theories in his teaching. The term "marketing mix" became popularized after Borden published his article, The Concept of the Marketing Mix in 1964....show more content... ) The 4 P's of Marketing How much to offer? What price to offer? Where to offer and how to offer? These 4 are the necessary questions to which the business must find an answer and make the decision on it. These 4 P's relate the strategic positioning so that the returns are the maximum in any specified market. The mix is also used to refer to the combination of the media for the promotion such as means of communication and television, newspaper and magazines, advertising on billboards and the Internet. Its goal is to make decisions that aim the four P's on the customers in the target market in order to generate perceived value and a positive response from customers. Marketing decisions generally include the following four controllable categories: Product Nowadays, there are a lot more services available, such as those available online. Also, the characteristic between product and service has become more
  • 11. complicated (e.g., Webā€“based software application is a product or a service?). However, product here refers to products or services. The product or service features which should able to meet a specific, existing market demand. Or, it should be able to create a market position through building a strong brand. The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange, Get more content on HelpWriting.net
  • 12. Marketing Mix Essay Marketing mix are the set of marketing tools that firm uses to pursue its marketing objectives in the target market. The various variable of the marketing mix : 1.PRODUCT MIX 2.PRICE MIX 3.PLACE MIX 4.PROMOTION MIX Promotion is the important element of marketing mix. Promotion is related with all steps taken to provide information about a product to the customer. It is a common mistake to believe that promotion by business is all about advertising. There are a variety of approaches that a business can take to get their message across to customer althrough advertising is certainly an importanat one. Promotion is all about communication. The main aim of promotion is to ensure that customers are aware of the existence and positioning of products. Promotion is also used to persuade customer that the product is better than competing products and to remind customers about. Increase sales attract new customers, encourage customer loyalty, encourage trial create awareness, inform remind potential customer reassure new customer change attitudes create an image position a product, encourage brand switching to support a distribution channel. The main methods of promotion are : 1.ADVERTISING 2.PUBLIC RELATION AND SPONSORSHIP 3.PERSONAL SELLING 4.DIRECT MARKETING 5.SALES PROMOTION A business will use a range as promotional activities for its product, depending on the marketing strategy and the budget available. The way in which promotion is targeted is split into two
  • 13. Get more content on HelpWriting.net
  • 14. The Marketing Of Marketing Mix Essay It show 7ps of marketing mix . Product ā€“ The Product ought to fit the undertaking purchasers need it for, it ought to work and it ought to be what the buyers are hoping to get. Place ā€“ The item ought to be accessible from where your objective shopper thinks that its most effortless to shop. This might be High Street, Mail Order or the more present alternative through eā€“business or an online shop. Price ā€“ The Product ought to dependably be seen as speaking to great quality for cash. This doesn 't as a matter of course mean it ought to be the least expensive accessible; one of the principle precepts of the advertising idea is that clients are generally glad to pay somewhat more to something that works truly well for them. Promotion ā€“ Advertising, PR, Sales Promotion, Personal Selling and, in later times, Social Media are all key specialized instruments for an association. These instruments ought to be utilized to put over the association 's message to the right groups of onlookers in the way they might most want to listen, whether it be educational or speaking to their feelings. People ā€“ All organizations are dependent on the general population who run them from cutting edge Sales staff to the Managing Director. Having the right individuals is fundamental since they are as much a piece of your business offering as the items/administrations you are putting forth. Processes ā€“The conveyance of your administration is generally finished with the Get more content on HelpWriting.net
  • 15. Marketing Mix Marketing Mix The terms of 'Marketing Mix' was first coined by Neil Borden, the president of the American Marketing Association in 1953. It is still use today to make important decisions that lead to the execution of a marketing plan. The various approaches that are used have evolved over times, especially with the increased use of technology. The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the 4Ps (price, product, place and promotion) in service marketing. In the 1990s, the concept of 4Cs was introduced as a more customerā€“driven replacement of 4Ps. There are two theories based on 4Cs (consumer, cost,...show more content... However, as long as our product launch in the first three months on the market to buy our watches enjoys 6ā€“8% discount and free GST. Addition, as long as students or senior citizens will buy our watches 50ā€“100 ringgit allowance. Where to buy our products must also comply with our rules and regulations as well as some of the payment deadline. We only accept credit cards, debit cards, online banking, cash or delivery, and instalment payments via credit cards. Place Place includes the company activities that make the product available to target customers. In the era of internet, credit cards and phones people neither need to go anyplace to satisfy a want or a need nor are limited to a few places to satisfy them. Marketers should know how the target market prefers to buy, how to be there and be ubiquitous, in order to guarantee convenience to buy. With the rise of internet and hybrid models of purchasing, place is becoming less relevant. Convenience takes into account the ease of buying the product, finding the product, finding information about the product, and several other factors. Our products will allow customers to buy and understand through a variety of channels (Online or market). We will also put some of our products as well as information on a variety of coverage, so that customers can easily understand. Example: newspapers, Get more content on HelpWriting.net
  • 16. Marketing Mix, By Neil H. Borden The Marketing Mix The marketing mix, also referred to as the four Ps, represents a list of categorized, dynamic parameters of a product that define its value. Marketing decisions are based on these four categories: product, price, place, promotion. The marketing manager controls these four parameters under the constraint of the marketing environment. Managers to maximize the perceived value of the product, which, in turn, elicits a positive response and optimizes or satisfies profit use marketing mis as a guide. The marketing mix, as a marketing theory, was one of the first analytical contributions to the field of marketing. The concept was introduced by Neil H. Borden in his 1964 article "The Concept of Marketing Mix," and subsequently popularized in his teachings. The marketing mix quickly dominated over other approaches and models, such as the organic functionalist approach, systems oriented approaches, and the institutional approach, becoming the major paradigm of academic research (Gronroos, 2005). Borden had been inspired by James Culliton, who had referred to a manager as a "mixer of ingredients" (Gronroos, 2005). Borden's formulation consisted of planning, pricing, branding, distribution channels, promotions, personal selling, advertising, packaging, display, physical handling, servicing, and factā€“finding and analysis. E. Jerome McCarthy later categorized Borden's constituents into the four Ps. Being a list the four Ps can never be truly comprehensive for all Get more content on HelpWriting.net
  • 17. Marketing Mix Essay The term marketing mix is defined as a set of marketing tools that the firm uses to pursue its marketing objectives in the target market. The marketing mix is an essential part of the formulation of a firm's marketing strategy. It is important for an organization to have a good understanding of the marketing mix. Each element is important when developing a marketing plan. Traditionally, the marketing mix consisted of four broad categories of variables known as the 4 P's: product, place, price and promotion. These are the variables the firm can control in order to best satisfy customers in the target market. Product The first element in the marketing mix is the product. A product is any combination of goods and services...show more content... The last major product Home Depot offers is being a supplier resource for the professionals. By offering products to both homeowners and contractors, Home Depot has captured a larger market share. Place Once an organization has developed the "products" to satisfy the target market(s), place would be the next concern with all the decisions involving in getting these "right" products to the target consumers. Place decisions are those associated with channels of distribution, which include market coverage, channel member selection, logistics, and levels of service etc. With Home Depot, they have increased its points of access, where customer can buy its products easily. Usually, these stores are opened within 10 miles from a major residential community, or adjacent to another major retailer such as Target or Wal ā€“Mart. For those customers are not able to access local stores, Home Depot serves these clients through online website. With the development of the Internet, Home Depot is able to sell to target markets in rural areas. Home Depot has created online portals just for suppliers and professional customers. Its online store has reached more customers, amplified Home Depot's exposure, and drastically increased their revenues. Price
  • 18. "In addition to developing Get more content on HelpWriting.net
  • 19. Marketing Mix 1.Short notes A)Marketing Mix variables (The 4 P 's of Marketing) The major marketing management decisions can be classified in one of the following four categories: * Product * Price * Place (distribution) * Promotion These variables are known as the marketing mix or the 4 P 's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market. The marketing mix is portrayed in the following diagram: The Marketing Mix Product| | | Place| | | | | | | | | Target Market| | | | | | | | | | Price| | | Promotion| | The firm attempts to generate a positive response in the target...show more content... Jon Elster calls this pattern "adaptive preference formation."[1] d)The Marketing Environment The market environment is a marketing term and refers to all of the forces outside of marketing that affect marketing management's ability to build and maintain successful relationships with target customers. The market environment consists of both the macroenvironment and the microenvironment. The microā€“environment This environment influences the organization directly. It includes suppliers that deal directly or indirectly, consumers and customers, and other local stakeholders. It is a more local relationship, and the firm may exercise a degree of influence.
  • 20. The macroā€“environment This includes all factors that can influence and organization, but that are out of their direct control. A company does not generally influence any laws (although it is accepted that they could lobby or be part of a trade organization). It is continuously changing, and the company needs to be flexible to adapt. There may be aggressive competition and rivalry in a market. Globalization means that there is always the threat of substitute products and new entrants. The wider environment is also ever changing, and the marketer needs to compensate for changes in culture, politics, economics and technology. e) Variety seeking buying behavior Some buying situations are characterized Get more content on HelpWriting.net
  • 21. Marketing Mix Essay Abstract The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P's. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. It will also express how each one of the four elements of the marketing mix impacts the expansion of an organization's marketing strategy and tactics. Marketing Mix...show more content... If so, you'll probably want to order and stock it and sell it directly from your business. If it's something they don't need to see before buying it, you need to make sure that it's delivered promptly to them and is what they expected when they bought it. "Price" is what it is. Nevertheless, the right price is instrumental to the success of any business. If your price is elevated consumers will not purchase it & will look elsewhere for a more feasible price. On the other hand, if the price it too low will miss out on considerable proceeds. Therefore, it is essential to price appealingly in order to attract and maintain customers. Marketingteacher.com defines "Promotion" as the tools available to the marketer for 'marketing communication'. Tools such as personal selling, public relations, advertisement, direct mail, trade fairs and exhibitions can all be used to promote your product or service. Consumers need to know the features and benefits, location and the quality of the services you have to offer. Promotion is a vital element to any business. Without successful promotion your business consumers will not know where to purchase your product or service or why your products and services are better than the competitions. By using variations of these four components you have the capability to attain multiple consumers within your intended market. Establishing a successful marketing mix that will boost results usually takes Get more content on HelpWriting.net
  • 22. Marketing Mix Essay Marketing Mix Paper Marketing encompasses everything from the products or services one sells, to how they are distributed to the customer. A Marketing Mix is the combination of products offered to reach a target market for the organization. "Marketing is much more than selling, or advertising (Cap Com Marketing, 2006)." The marketing mix is comprised of the Product, Price, Promotion, and distribution. The marketing mix is also known as the four P's. Worldwide, approximately 10 million people suffer from blood clots every year." Since 1997, Possis has become the leading provider of mechanical thrombectomy products by marketing its AngioJet System through a direct sales force, developing a United States customer base of more than 1,500 ...show more content... As a clinical member of the Angiojet trials held at Lakeland Regional Medical Center, studies were documented and tracked according to standards set by the Food and Drug Administration and Joint Commission on the Accreditation of Healthcare Organizations (JHACO). The Angiojet System consists of a tiny device that attaches to a cannula in the femoral artery. The catheter is then advanced to the peripheral artery containing the blood clot. " Once properly positioned, the pump of the angiojet is activated, delivering a saline solution under high pressure out through the pump jets, into the artery, and directly at the blood clot (Angiojet Thrombectomy, 2004)." Saline jets create a vacuum, which causes the clot to break up. The pieces of the clot are then removed through the catheter. Next, the catheter with angiojet device is removed; pressure is applied to the area to prevent bleeding. The patient is required to lay flat for several hours to prevent bleeding. Four Elements The four components of the marketing mix are used to shape market demand. To facilitate transactions, the four P's, Product, Price, Promotion, and Distribution are used. Product and Service include individual goods. Features contained within a product line may have benefits to meet consumer needs and wants. Companies use market research to identify the needs and wants of the Get more content on HelpWriting.net
  • 23. Marketing Mix Marketing Mix Decisions IE 153ā€“WSWX Marketing Mix The term "marketing mix" became popularized after Neil H. Borden published his 1964 article, "The Concept of the Marketing Mix". Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http:/ /www.quickmba.com/marketing/mix/ advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingrediThe 4 P's of Marketing ents into the four categories that today are known...show more content... It begins with a careful review of the product safe, and inexpensive to use and service; and simple and and its benefits, the target market, and proposed marketeconomical to produce and distribute ing strategies. Once chosen, the brand name must be protected. Branding ā€“ Criteria for Choosing a Brandname Familiar brands provide consumer information, recognition, Distinctive ā€“ is the brand closely associated with a and confidence. product? Word Associationā€“ does it have a pleasant meaning? Legal Requirements ā€“ can it be registered? Memorability ā€“ can your name be remembered easily? Source: Armstrong, Gary and Kotler, Philip. Principles of Marketing, 7th Edition. Prenticeā€“Hall International, Inc. 1996 Pronounciability ā€“ can it be pronounced easily? Limitations ā€“ is the brand name too limiting to be used for expansion Brand ā€“ a name, term, sign, symbol, or design, or a combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them Brand Sponsorship 4 sponsorship options: from those of competitors. 1. Manufacturer's brand (national brand) ā€“ a brand created ā€“ It can be any of the following: and owned by the producer of a product or service A propriety name like Jollibee or Microsoft 2. Private brand (or middleman, distributor, or store brand) A nickname like McDo or B.K. ā€“ a brand created and owned by a reseller of a product A group of letters like "TGIF" restaurant or service Get more content on HelpWriting.net
  • 24. Marketing Mix Essay examples Marketing Mix MKT 421 Tyson Foods promotes several different types of food in the food chain industry. They are ranked 96 in the Fortune 500 in America's largest corporations. Tyson's produced poultry, beef, and pork, as well as providing the previous to several chain stores to use products. From McDonald nuggets to the Subway sandwich, Tyson is one of the largest poultry processing plants in the country. Tyson also distributes bag in bag products to stores which include Sam's and Walā€“Mart stores around the world. Tyson is best known for the appetizers and hot wings. Tyson has become one of the biggest marketers of value added chicken, beef, pork, as well as distributors to retail grocers, food service distributors, and national fast...show more content... The commercials also helped get the word out in a humorous way to give insight and show how Tyson protein adds strength and energy to everyday life. The marketing department specifically concentrates on things that focus towards consumer targets such as fast and easy or even preā€“cooked. A major key point is to provide some relief to everyday consumer problems such as less prep time for meals or as easy as popping it into the oven. Marketing paper advertisements are primarily for adults who prepare the meals for their selves or for the family. Television advertisement is done solely without violence, prejudice, sex, and profanity. All marketing advertisement whether printed or aired on television does not disparage any religion, ethnic, or political group. As an ongoing basis, Tyson thrives to identifying the distinctive markets and business opportunities best for the company. Tyson is committed to finding the everyday solution for customers and the consumers through research and by coordinating a mix of activities on both rational and emotional levels. Tyson products are advertised through television commercial, radio stations, and newspapers. The way to attract the consumers to actually buy the product is by distributing coupons and inā€“store ads. Other ways to distribute coupons is in magazine inserts, on the internet, as well as the official Tyson webā€“site. When a customer is shopping in a local grocery store that is advertising Tyson products as a buy one get one Get more content on HelpWriting.net