Role of Marketing and Marketing Mix in Achieving Business Goals

Course Description This course involves an integrated analysis of the role of marketing within the total organization. Specific attention is given to the analysis of factors affecting consumer behavior, the identification of marketing variables, the development and use of marketing strategies, and the discussion of international marketing issues. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:   University policies: You must be

But why is Marketing Mix so important? How does it impact a business and its strategies?

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.

Yellow Freight Inc. is a trucking company that moves a wide variety of products for companies all over the world. “Any need met, Anytime guaranteed, Anywhere your business goes” is the motto that Yellow Freight stands behind.

Marketing refers to advertising of a product to a group or society using a selected array communication medium and each brand will require advertising its products to its customers so as to so as to improve its sales (Stokes & Lomax, 2008). Advertisement involves informing the customer regarding the product and service specifications, cost and value and how the product will benefit them. Most brands will provide only the positive aspects linked to the product or services and avoid discussing negative aspects as this can result in deterring the customers from purchasing it. Marketing also involved close analysis of the consumer market in determining consumer demand before developing suitable products that fit that category. This

As Drucker puts it “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself”. In order to achieve this company’s must understand “what does the customer buy” and “what is value to the customer.”

Marketing Mix is one of the most important concepts for marketing. Marketing mix is also called the 4Ps, which are price, place, product, and promotion. They are the ingredients that combine to capture and promote a brand or product’s unique selling points that differentiate it from its competitors. Neil H. Borden, an advertising professor at Harvard University coined the term marketing mix. The ideas behind Borden’s model were refined over the years until Edmond Jerome McCarthy, a marketing professor and author Jerome McCarthy, a marketing professor and author reduced them to 4 elements called “The Four Ps.” This classification is currently being used by marketing companies, branding agencies, and web design companies around the world.

Have you ever wondered what was the reason you decided to buy your first car or what made you lean towards going to one store compared to another? Maybe it was cost, maybe it was something your friend suggested but every decision made to buy something can be contributed to marketing. Marketing is a widely used term to describe the means of communication between the company and the consumer audience, it is also the adaptation of the commercial activities and use of advertizements by the organizations with a purpose to induce mental thoughts in the targeted consumer.

The major marketing management decisions can be classified in one of the following four categories:

To launch a new product to account the market share and get fat profits in this changeable and competitive market today is not a simple work. According to the Chief Marketing Officer in the AMA () , it is told that the new definition of marketing has changed marketing to an educational process. This means that the mainly role for marketing is going to take on the needs of the customers and stir the launch for new products to deliver the values to make the final customer happy. In this article, centering on the customer needs in the marketing, it will analyze and evaluate the role played by marketing during the process of developing a new product, using the STP and Marketing Mix Four Ps theory systems.

The competition in today’s industrial world is very intense and every company is spending a lot of money on designing and marketing their products and services. In such a highly competitive world it is very essential to design and market your products keeping in mind the target customers and markets. A product which is designed for the developed countries might not work in the third world countries and vice versa. So the companies, prior to designing their products and services must be aware of their target customers and markets. Once the designing and the production phases are over then comes the very important and the deciding phase which is the marketing phase. It is very essential for a company to have a marketing

To enhance their sales, business entities should see to it that they offer for sale the right products at the right price. Further, the marketing of such products should in addition to being conducted in the right place also utilize the most appropriate promotion. In this text, I amongst other things apply the various elements of the marketing mix to the Coca-Cola Company.

Today, the world has been acknowledged as a global village due to the advancement in business strategies especially in marketing. Essentially, marketing has become a fundamental ingredient for every business success. In this regard, it has become tricky for every competitor to survive in the market for a protracted period due to the high competition in the market. Consequently, enhancement of marketing strategy is frequently required. This helps in the achievement of marketing objectives and in the long run corporate objectives. In essence, marketing mix is one of the best strategies that have been used to achieve a competitive advantage over opponent organizations (Donald, 2014). Basically, marketing mix consists of several tactics that

Once the mission statement has been refined, the business plan and strategic plan can be developed. These are a written statement of the business: what you want to achieve and how you plan to go about it. The business plan is a collection of sub-plans for all main aspects of the business, such as marketing, finance and human resources. A strategic plan is similar however it is future-focused. Chris Ahoy (1998) summarises strategic planning as charting a definite course based on strong indicators of what the business environment will be like looking three to five years ahead.

The term “marketing mix” became popularized after Neil H. Borden published his 1964 article, “The Concept of the Marketing Mix”. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a “mixer of ingredients”. The ingredients in Borden’s marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http://www.quickmba.com/marketing/mix/ advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingrediThe 4 P’s of Marketing ents into the four categories that today are