Marketing Mix Finagle a Bagel

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..

The Marketing Mix provides an excellent framework for developing marketing plan. They are generally accepted as being made up of four parts which are:

Also they can have a wide array of choices since they do not have to keep large quantities of all items in stock. They should also offer a little flexibility to the customer by letting them bring some idea into the catering service that they may have, or have seen some other place. This will show that they are interested in the needs of the customer as well as offering them goods and services for profit. This ultimately could be a way of marketing research that helps the company stayed informed on the introduction of new products in the industry.

Marketing Mix – four marketing activities; Price, Product, Distribution, Promotion that a firm can control to meet the needs of customers within its target markets.

The competition among rivals is very high due to price and non-price factors. Companies try to attract customers to their products by introducing

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.

Marketers considered the Marketing Mix model as a tool to reach their mission in the marketing strategy. Traditionally, the Marketing Mix has four considerations known as the 4P 's — Product, Price, Place and Promotion.

Marketing mix is the set of controllable tactical marketing tools which that the firm blends to produce the response it wants in the target market.

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’.

We have 17 retail stores in the city of Boston and the surrounding suburbs and a wholesale business that delivers bagels to area caterers, hospitals, universities. We do a total of between 20 and 25 million dollars a year in revenue including both wholesale and retail.

1. Analyze the fast food industry from the point of view of perfect competition. Include the concepts of elasticity, utility, costs, and market structure to explain the prices charged by fast food retailers.

Important factors in evaluating industry and competitive environment include: the industry’s growth potential; whether powerful competitive forces are squeezing industry profitability and whether competition appears destines to grow stronger or weaker; whether industry profitability will be favorably or unfavorably affected by the prevailing driving forces; the company’s competitive position in the industry vis-a-vis rivals; and how competently the company performs industry key success factors (Gamble & Thompson, 2011, p 69).

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.

Marketing mix is the combination of marketing activities in order to promote a particular good or service. There are four elements called 4P: Product (what will the business sell), Price (how much will the business charge), Promotion (how to get people to buy the product), Place (how will the product be distributed).