Marketing Mix

1084 WordsJan 23, 20065 Pages
Marketing Mix In order for a company to achieve its goals, the company must have a strategy that mixes the correct elements of marketing. The term Marketing Mix refers to "the four Ps" of marketing which are product, price, place, and promotion (Kotler & Keller, 2006). When creating a mix, a company must keep their target market in mind. The company must also understand the needs of the customer, then create marketing strategies that will satisfy the demand. The marketing mix should also meet or exceed the goals of that company. Product is the element in the marketing mix that will define to the target customers what about the company's product that meets the customer's needs (Kotler & Keller, 2006). This particular area of the…show more content…
Being efficient in this area, he is able to provide a price lower than other competitors such as USPS or DHL. For example, the price of a FedEx overnight letter is about $11 (FedEx, 2005) compared to USPS prices of $12 and $13 dollars (USPS, 2005). FedEx services are available almost everywhere at any time. When customers' shipment is ready to go, they can either schedule a courier pickup or drop the package off at the FedEx location nearest them. With more than 48,000 locations nationwide, there is bound to be one nearby (FedEx, 2005). FedEx also provides a time-definite delivery in one, two, or three business days to more than 210 countries through its GSP (Global Service Planning) branches (FedEx, 2005). FedEx is also known for its award-winning advertising and promotions. The reliability, speed, leadership, excellence, and global reach that characterize FedEx are reflected in its sponsorships and emphasized in its advertising (FedEx, 2005). FedEx has done many successful promotions to the target customers, so that its business has attracted more consumers. The most well known is "Relax, its FedEx" (FedEx, 2005). FedEx's campaign consists of television, print, radio, and online advertisements. The main message throughout the campaign is that the portfolio of FedEx services will help small businesses meet their needs (FedEx, 2005). In summary, a

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