Marketing Mix

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 is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that

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.

The main key characteristic of this organization is dirt bike, high significant for “racing”. Their significance to the market is metal test,

3. The final part of the assessment involves determining the final marketing mix in relation to the new marketing opportunity.

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.

Marketing mix can be describes as "the use and specification of the 4 Ps describing the strategic position of a product in the marketplace… A prominent person to take centre stage was E. Jerome McCarthy in 1960; he proposed a four-P classification which was popularized. (wikipedia.com)" The marketing mix approach to marketing is a model of creating and implementing market strategies. The marketing mix stresses the mixing of different factors in a way that both organizational and consumer or target markets objectives are attained. The 4 Ps of marketing are Product, Place, Promotion and Price. Each plays a key factor in the overall successful marketing of a product or service.

In 1953, Neil H, Borden took that theories in his teaching. The term "marketing mix" became popularized after Borden published his article, The Concept of the Marketing Mix in 1964.

The Netmba.com website defines the marketing mix as "the parameters that a marketing manager can control, subject to internal and external constraints of marketing environment". The goal is to generate a positive response from the target market. Just as the Wikipedia.com website has described more parameters being added into the marketing mix, so has the Netmba.com website, however Netmba.com also stresses that the four P's are the basis for most marketing text books.

Augmented product: GPS tracking (tracks distance, elevation climbed, and peace, reviews routes and splits times), 24 hour heart rate monitoring, multi-sports (records different types of workouts, such as running, cycling, and yoga and view exercise summaries), notifications (call and text notifications are shown on display), music control (songs from the mobile playlist can be controlled on display), wireless syncing (stats are sync every 15 minutes automatically to leading devices through the wireless), and silent awake alarm (uses vibration to gently awake or alert about a selected time).

The term marketing mix was first coined in 1940s that described the four strategies a company should take in consideration while marketing a product. Later on, a need arose to develop a marketing mix for how the services will be marketed. This change arrived because services are intangible and perishable in nature. Hence, marketers needed to extend the marketing mix or the strategies that should be considered in service markets. The extended marketing mix (7Ps) includes three more Ps – People, physical evidence, and process.

The creation process of the brand is extremely particular and important function of marketing. Society is notorious for buying a brand name rather than a product itself. E.g. you often see or hear people in a supermarket pick up an unfamiliar product and assume it’s good

Another important step in personal selling is approach where a sales person has to make their first impression to be the best impression. The sales person has to treat the customer by smiling , by properly greeting . First of all the sales person needs to introduce himself and focus on the product . Once we come to know the customer is interested in the product then the sales person needs to do a presentation. They needs to explain clear about the features and all about the product. Then the sales person has to handle the questions from a customer in this regard. Before the sales person moving to close the sales they have to answer to any query from the customer.

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).