Essay about Four Elements of the Marketing Mix

Marketing mix is a business term that refers to the tool used in marketing. Utilizing marketing mix when determining a product or brand goes hand-in-hand with the 4P 's price, product, promotion, and place. Marketing mix is required for organizations when planning or implementing new marketing strategies. When planning an effective market strategy it is essential to utilize these elements to develop an effective plan..

According to the marketing dictionary the marketing mix is a combination of marketing elements used in the sale of a particular product. The marketing elements center around four distinct functions, sometimes called the Four Ps: product, price, place (of distribution),

According to an article from ‘Supply & Demand Chain Executive’ written by (DelMonte, 2007) states what is the marketing mix: “is putting the right product in the right place, at the right price, at the right time.’ The marketing mix is an implement which is needed and it is much utilized in today’s working industries for managers to evaluate business targets such as sales and company’s profits, and also to assist in order to meet consumer needs effectively. It purposes is to satisfy the customer as well as the seller by using the marketing mix tool. The marketing is known as the ‘4Ps’, and it is made up of: place, product, promotion and price.

Marketing mix -The marketing mix is commonly used marketing term. Its elements are basic, strategic components of a marketing plan. Which is mentioned as the four p’s, which include Price, place, product and promotion. More recently 3 more P’S have been added to the marketing mix which are people, process and physical evidence this is known as the extended marketing mix.

Identify consumer priorities, needs and preferences. In what ways do they impact the marketing mix.

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 four P's: price, product, promotion, and

-Product Differentiation: HMM will be the only company to distribute music thru digital media in

We will market to tech savvy female college students that look for value in their limited amount of spending on electronic products. Also, our consumers will be music lovers that enjoy listening to the radio during studying and leisure time. The consumers purchasing our product will have a limited amount of space for many different products and will be looking for a product that can combine many of their other products all in one.

The main key characteristic of this organisation is dirt bike, high significant for “racing”. Their significance to the market is metal test, customises, designed in Australia and having franchise.

Toyota has a manufacturing facility of the overseas of 50 in 27 countries, and is doing business expansion globally. Moreover, the Toyota car is sold by 160 countries of an overseas. The number of dealer is 8,485 dealers in the world (Expect Japan), and there are more than 270 dealers in Australia. We can buy Toyota’s product everywhere.

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’.

Marketing mix is one of the most popular terms of the management. Marketing mix includes several terms like place, price, product and promotion these factors hold the key and known as Four P’s and even though there are some other factors like people, process and physical evidence. Any organization either a profit-making or non profit-making has to analyse and understand all these factors because they play a vital role in the marketing environment.

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 refers to the enterprise for their target market needs, control various marketing factors (product, price, place and promotion) to optimize the combination and comprehensive utilization, in order to accomplish better economic and social benefits (Chai, 2009, p.4). Place and product will be attached more importance in this section.

These 4 Ps’ are the parameters that the marketing managers can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the 4 Ps’ on the customer customers in the target market in order to create perceived value and generate a positive response.