Marketing Mix in the Technology Industry

Marketing mix might be considered the most important term in marketing. The marketing mix components are basic foundation of a marketing plan. The marketing mix consists of the four P 's which are price, place, product, and promotion. By using the marketing mix you can vary the offers of services that you give to your customers. For instance when you are a big name brand corporation you might focus more on promoting and desensitize the focus on price.

Flight Centre is Found by Graham Turner in 1981, its first store open in Sydney, increases day by day, Now they 2500 worldwide stores which operate Australia, USA, India, China, New Zealand, Hong Kong, South Africa etc. They are first ever decline in the profit year 2005. More where stores available in all prime location near to all amenities and public can reach their easily.

In this section, I will give a detailed explanation of the marketing mix and why it is used in businesses. I will be giving a detailed analysis’ of the Product, Pricing, Place and Promotions. This section is based on about how I found my target market and then fulfilling their wants and needs.

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

The customer’s needs, priorities and preferences influence the marketing mix compentants such that price should not be more or less than the recommended retail price. Channels of distribution include stores such as word of mouth, Advertisement and also pamphlets and internet as well.

Promotion is the way in the business makes its products known to the customers, both current and potential. Promotion involves spread information about a product, product line, brand, or company. It is one of the four key aspects of the marketing mix. To generate the sales and profits, the benefits of products have to be communicated to customers. Promotion is the major component of market mix. The purpose of promotion is to reach the desired targeted consumers it try to make them act positively

A Marketing Mix is a combination of product, packaging, price, channels of distribution, advertising, promotion, and personal selling to get the product in the hands of the customer. Throughout this paper we will be discussing the 4 P 's of Marketing and provide examples of Marketing Mix. (Kyle, Bobette).

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.

In recent times, fast moving consumer goods (FMCG’s) have become under immerse pressure to maintain market share due to various external factors such as continuous innovation of competitors, method of marketing, liaising with supermarkets and the influence of digitalization. Marketing mix has evolved and methodologies on promotion, place, price or location and product development has drastically changed due to the factors mentioned above. For (FMCG) firms to archive superior performance, they world have to ensure that they are constantly reviewing factors that can influence their marketing mix.

To achieve the marketing mix objectives it’s very important to gather data from studies, competitors and even customers, information about industry and competitors to further understand the risks and to know what kinds of things must be done to earn the path of both survival and success. Being able to analyze each data is relevant, it depends on how you interpret it and apply it directly to your strategies so that you

The need for immediate profit is not a pressure. The product is promoted to create awareness. If the product has no or few competitors, a skimming price strategy is employed. Limited numbers of product are available in few channels of distribution.

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 management is a process of planning and executing the conception, promotion, pricing and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing management is a process which involves analysis, planning and implementation. It also involves the control of goods, services and ideas. The goal of marketing management is to provide satisfaction for parties involved. Marketing management’s task is to influence the timing, level and composition of demand in a way that will help the organization to achieve their objectives.

Our brand name is Unique Scent and the product we are offering is customized perfume. We offer premium quality, using the best European ingredients and raw materials.

Marketing Mix in marketing management is used to attract consumers and for sales promotion, using the four basic elements/components of the mix, namely, Product, Price, Place, and Promotion (four Ps). A combination and fair application of these marketing essentials is called Marketing Mix.