Marketing Mix Essay

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.

Home Depot demands the highest levels of product quality, innovation, availability, on-time delivery, safety in

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.

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’.

Organizations use elements of the marketing mix like a chef uses the elements of a recipe. If an element of a recipe were used alone, the end product would not taste very good, but if the elements are used in the right proportions, the recipe works. Organizations use the elements of the marketing mix in the same manner. The purpose of this paper is to describe the elements of the marketing mix, product, place, price, and promotion. The paper will use an organization to describe how each of the four elements of the marketing mix affects the development of the organization's marketing strategy. The paper will also describe how the organization implements each of the four elements of the

The term marketing mix was first used in the late 1940s by Neil H. Borden (NetMBA, 2007). The original marketing mix introduced by Borden consisted of product, planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. Later E. Jerome McCarthy grouped the parts into the four P’s of marketing known as product, place, price and promotion (NetMBA, 2007). “A typical marketing mix includes some product, offered at a price, with some promotion to tell potential customers about the product, and a way to reach the customer’s place (Perreault & McCarthy, 2004, p.36). The parts of the marketing mix are considered to be the

In early 1980s, the aim was to bring warehouse retailing concept to the home center industry. This was considered to be the first successful company in Do-it-Yourself (DIY) segment and was famous for providing high quality products with the low prices. The Home depot was a part of large, rapidly growing and competitive home improvement industry during 1980’s. With two wage earners in each household, families were willing to spend more money on home improvement projects. Therefore, the DIY segment grew rapidly and the industry attached many competitors to give tough competitions to each others. In early 1990, Lowe’s became the largest competitor of Home depot as the sales and growth were at the top for Lowe’s stores which took Lowe to large-format warehouse stores.

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.

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 is a mix of options and variables that a marketer has to design his proposition. The four Ps, as they are known, of the marketing mix are Product, Price, Place and Promotion. Marketers mix these ingredients and variables in different proportions for their products in order to meet their requirements within their given constraints and boundaries.

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 :

Marketing Mix is one of the most important concepts for marketing. Marketing mix is also called the 4Ps, which are price, place, product, and promotion. They are the ingredients that combine to capture and promote a brand or product’s unique selling points that differentiate it from its competitors. Neil H. Borden, an advertising professor at Harvard University coined the term marketing mix. The ideas behind Borden’s model were refined over the years until Edmond Jerome McCarthy, a marketing professor and author Jerome McCarthy, a marketing professor and author reduced them to 4 elements called “The Four Ps.” This classification is currently being used by marketing companies, branding agencies, and web design companies around the world.

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.

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.

Marketing mix is the set of controllable tactical marketing tools–product, price, place, and promotion–that the firm blends to produce the response it wants in the target market