The Marketing Mix and the Four P's
The marketing mix is what most marketing people call "the 4 P's" and it consists of Product, Price, Place, and Promotion. "Some people will increase the marketing mix to the "five P's", to include people. Others will increase the mix to "Seven Ps", to include physical evidence (such as uniforms, or facilities) and process (i.e. the whole customer experience e.g. a visit to Disney World)" (Marketing Teacher, 2000). The marketing mix is a very important aspect of any marketing strategy and contains "the controllable variables the company puts together to satisfy the selected target group" (Perreault and McCarthy, 2004, Ch 2). The Product is the need satisfying item or service which the company
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All of these programs are offered because there was a need in the community for such programs. Parents wanted a safe place for their children to attend enrichment courses throughout the school year. The target market therefore is the families with school age children. The Price of the enrichment programs offered by the Supplemental Education department of Kyrene is based on what the competition is charging in other school districts. It is also based on what parents can afford and are willing to pay for such programs. It the price is set too high enrollment will decline and students will attend classes in other districts. If the price is set too low, the classes will be overcrowded or Supplemental Ed will not be able to meet all of their customer's demands. Discounts are also offered as incentives to retain or attract new customers to the Kyrene School District. The Place of the enrichment programs offered by the Supplemental Education department of Kyrene is based on convenience to parents and students alike. Most programs are available at school sites where students already attend during the school day. This provides easy access to the programs for the students and reliability and safety to the parents. These issues are a big factor in determining the success of the
A free appropriate public education is provided at public disbursement, under public supervision and without any charge. It must also meet specific standards of the State educational agency. The family is able to participate in an individual’s free and appropriate education plan by speaking with the educational team about the individual’s growth, grades, scores, and the family is encouraged to visit the school to see if that may have an impact on
The overview of these three programs and attaining them is optimal, essentially a cycle of opportunity. By providing these services it develops a base for a long-term goal of achieving self-sufficiency and out of poverty. However, the accessibility of these beneficial resources may be difficult to obtain based on eligibility. New ideas that may help improve or reduce disparities in future programs can begin by concentrating on and expanding educational resources. For instance, a program that holds educational sessions on a monthly base, targeting communities, informing families of available resources and assisting with the application process. Another idea would be collaborating with the school system, specifically low-income based communities. After school program can be initiated to target parents that need assistance with extra resources and services. Lastly, innovating a classroom setting program for the duration of one-year, furthering educational and leadership ability for
The program is able to provide support for these student Monday through Friday, barring holidays and school breaks, at no cost to them. If the program did not exist, these students would be unable to receive the same academic support nor a safe environment to play with their peers. Additionally, the students’ parents often come topic up their child after their work day in their uniforms. If the program did not exist, the parents would have to find alternative means of care for their children after school, whether it be they return home on their own from the bus or finding a baby sitter at a costly burden. I connected with these children in this aspect as I was not privy to resources such as these. I neglected my school work that I was unable to finish by the simple inability to ask for help from my family members as they themselves did not know how to assist me with my schoolwork. The program offers a great alternative that would exist if the program was absent in the community. The longevity of the program speaks to the sustainable community relationship that the university students were able to build with the community partners at Lay Park, and the value of the program by the continued support of the Lay Park staff.
According to an article from ‘Supply & Demand Chain Executive’ written by (DelMonte, 2007) states what is the marketing mix: “is putting the right product in the right place, at the right price, at the right time.’ The marketing mix is an implement which is needed and it is much utilized in today’s working industries for managers to evaluate business targets such as sales and company’s profits, and also to assist in order to meet consumer needs effectively. It purposes is to satisfy the customer as well as the seller by using the marketing mix tool. The marketing is known as the ‘4Ps’, and it is made up of: place, product, promotion and price.
The marketing mix concept often referred to as the “4Ps” (McCarthy, 1964), as a means of translating marketing planning into practice (Bennett, 1997) is one of the fundamental concepts of marketing theory. Marketing mix is not a scientific theory, but merely a conceptual framework that identifies thee principal
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.
This program seems to dedicate their time and energy as best they can to the children. The teachers want to see their students prosper on to well educated individuals. Even though their parents may be low in the currency aspect yet the teachers seem to not care about the money income of themselves, but in seeing the student be educated and get every opportunity they deserve.
According to the text, Principles of Marketing, marketing mix is made up of four things: product, price, place and promotion. Further, there are four Cs that go along with these four Ps: consumer solution, customer cost, convenience and communication. (Kotler) Building lasting lifetime relationships is what every company desires. To create that, customer satisfaction must be at the top of the
Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.
As per Ian Ruskin Brown and Greg Clark “ Marketing mix is the term used explaining the different elements comprising the offer that the different companies makes to their customers”. (Brown and Clarke, 2000:44). E.Jerome McCarthy in early 1960s came up with the four Ps in the marketing mix. According to him these 4ps are “ Product, price, place and promotion”.( McCarthy and Shapiro 1975: 35). Refer Appendix I for the pictorial representation. But the view of Richard Sandhusen is that the four marketing mixes should be ‘price, product, promotion and distribution’ (Sadhusen, 2000:319). According to Steven Stralser ‘in order to create a marketing strategy and plan that touch all the areas of marketing to position a product, maximise revenue etc a few more components have to be considered which are, Marketing segmentation, Marketing Strategy, Marketing research , Pricing, placement and value chain.’(Stralser,
In addition to, it provides the necessary material to become an effective leader. The program offers the ability to access information easily without becoming frustrated with the navigation system through the course selection, syllabus, Moodle and the school process. By doing this, it helps me to understand the programs mission, goals and objective. Further, the essential principle of my educational decision is rooted on having a clear understanding of the business, academic data, and economics. Therefore I will collect, screen, and analyze the financial data about of the various schools, which will illustrate a method for me to outline. It will provide me a summary of the cost benefit, which does not require a complicated equation. The method will demonstrate the growth in area in order to meet the economic environment. This will create a clear understanding of the market demand for customer satisfaction as well as to motivate the
Toyota has a manufacturing facility of the overseas of 50 in 27 countries, and is doing business expansion globally. Moreover, the Toyota car is sold by 160 countries of an overseas. The number of dealer is 8,485 dealers in the world (Expect Japan), and there are more than 270 dealers in Australia. We can buy Toyota’s product everywhere.
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’.
The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange,
The four P’s of a marketing mix are as follows, product, price, place, and promotion. Each of these offers a marketing parameter for the management and company team to control. With each marketing tool there are decisions that should be met as far as the business is concerned. Therefore, there is a list for each one that should be analyzed to meet the business standards.