Segmentation, Targeting And Positioning Are Important For Achieving A Successful Marketing Mix

Marketing Plays a vital role in a business, because of marketing the business can offer their offerings and to their customers and provides the services. Marketing is a combination of 4 P’s which are Product, Prize, Place and promotion, to Analysis the marketing of this business, I am explaining the

The Marketing Mix provides an excellent framework for developing marketing plan. They are generally accepted as being made up of four parts which are:

“Marketing Mix” is made up of 4P’s of marketing. This tool blends these variables together to produce the results it wants to achieve in its specific target market. “Brand Position” mentions to consumer’s reason to buy the products in preference to others.

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 is made up of seven Ps, these known as, Product, Price, Place, Promotion, Packaging, People and Processes. Each element of the

Marketing mix is made up of; promotion, price, product and place. Its important to balance marketing mix because each element is as important as each other in an business organisation. Firms need a balanced marketing mix to insure all customers needs have been met. If the marketing mix were to be unbalanced, this

After positioning is considered, appropriate marketing mixes have to be designed in order to communicate positioning (STP Market segmentation, n.d.)

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’.

Marketing is very important to all organizations, and it determines whether the business will be successful or not. “Marketing is the all-encompassing process of getting a product or service in the hands of your customers. The steps involved include market analysis, product creation, advertising strategy, and distribution (Jeanty, 2011).” The elements of the marketing mix help the marketing department market products or services correctly to make them the most appealing to consumers. There are four elements of the marketing mix, which are as follows: product, place, price, and promotion. The organization that was chosen to describe how each of the four elements of the marketing mix affects the development

cross-national approach to market segmentation that can be utilized in guiding the development of global marketing strategies. It is always important to understand the market segmentation for doing business successfully. Product positioning has also been a vital part of marketing since most companies started to appreciate the relevance of having control of their designated image. Additionally, it is also a form of influencing consumer purchase choice and perception as well as to meet the set cooperate sales goals.

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.

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.

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 price must be right. Consumer will need to buy in large numbers to produce a healthy profit.* The goods must be in the right place at the right time. Making sure that the goods arrive when and where they are wanted is an important operation.* The target group needs to be made aware of the existence and availability of the product through promotio.nSuccessful promotion helps a firm to spread costs over a larger

Marketing mix is one of the basic and the very important part of marketing plan. It includes all the elements that are important for an organization from manufacturing to sale of the product. It can be considered as the set of marketing tools that blends together to generate a marketing response in the market. Every organization uses this tool to make its marketing plan. Primarily it consists of 4P’s, but now it is extended to 7P’s of marketing. (Jain, 2013)