Essay about Four Elements of the Marketing Mix

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What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization. After a target market is selected, “…the firm must take steps to satisfy [the customers] needs” (Kerin, Hartley, & Rudelius, 2009 p. 13). The basic concept of the marketing mix is to focus on what customers want and to keep customers satisfied. Although the marketing mix is a unique way to market a product or service, satisfying the…show more content…
The Role of the Four Ps The first important aspect of the marketing mix is the tangible product. This first step for the marketer involves the decision-making process. The product should include tangible attributes. There are many product decisions to make such as, appearance, quality, and functionality. The function of a product must address the needs of the consumers. For example, high-tech devices such as an Apple iPod or a Microsoft Zune digital mp3 player have the tendency to attract tech savvy users. The target market suitable for this particular electronic product would be individuals in their 20s and 30s—Generation Y population. Hence, the mp3 product must have the right features. The features most consumers care about on an mp3 player are space capacity, battery life span, sound quality, screen size, and color. Touch screen, camera, and web access are additional features most customers care about as well. Consumers choose mp3 players that do more than play music. For instance, when consumers travel, an mp3 player will be the ideal portable entertainment and communication product during a trip. Since most customers shop for mp3 players to suit their needs and sometimes their budget, companies market mp3 players by their brand name, their product detail, and their price. An effective method for the product

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