Marketing Mix Can Attract and Satisfy Target Markets

2211 WordsMar 19, 20119 Pages
I. INTRODUCTION THE HISTORY OF MARKETING MIX 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. II. BODY…show more content…
As with consumer durables, the marketing of almost all industrial products also involves pos-sales servicing” (Martin L. Bell, Marketing Concepts and Strategy, 2nd Edition, 2000). PRODUCT DESIGN DECISIONS The seller must make the desiring advantages into an existing merchandise with features and attributes that will supply the designed fulfillment of a greater quality than competitive products. But benefits and features are different. Features are the material or non material attributes given the product by its designer. Benefits are the successful dealing to the costumer problems of needs given by the product according to Boyd, Walker, Mullins & Larrénché in Marketing Management, 5th Edition (2005). “Standardization protects buyers, saves their time and energy on the selection of goods, provides for economies in buying, reduces fraud and mispresentation of goods and helps to educate buyers”. (Shirley I. Mendoza, 2003). “The essence of marketing is in developing products such as a new technologically advanced adhesive to meet buyers’ needs. A product is a good service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is receiving in exchange for money or some other unit of value, tangible attributes include physical characteristics such as color or sweetness, and intangible attributes includes becoming healthier. Hence, a product includes the breakfast cereal you eat, the accountant who fills
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