The 4 P 's Of The Marketing Mix

International Marketing Mix Marketing is a way to achieve the best results using the right product in the right place using the accurate price at the correct time. A related concept of marketing is marketing mix. Marketing mix is a term which was first introduced by Neil Borden in order to promote and sell a product in the market. Later, it was refined by the Jerome McCarthy in the form of 4Ps. Since then, this 4Ps are the best tools to make a strategy to market and promote a product not just in the local market but in the international market as well. It is recognized as the most valuable model to use the strength of the company to exploit the opportunities in the market. Marketing mix model unfolds many hidden strategies which are impossible to identify. By identifying the hidden areas, Bombardier can make a strategy for each

UNIT 10 – P1 & M1 http://www.aboutmcdonalds.com/mcd/our_company.html http://www.strategicmanagementinsight.com/swot-analyses/mcdonalds-swot-analysis.html http://beta.fool.com/hjcranford/2013/05/31/a-swot-analysis-of-mcdonalds/35559/ http://rockansussex.blogspot.co.uk/2013/11/pestel-analysis-of-mcdonalds.html Marketing is the total management procedure via which a product progresses from concept to consumer to satisfy and meet the needs and wants of customers. This involves addressing a number of key matters: what the company is going to produce, how much they are going to charge, how it is going to distribute its products or services to the customer, how it is going to tell its customers about its products and services, how the selling process actually happens, who comes in contact with customers and the layout of interface in which the company and customers interact. These are collectively known as the 7P’s or the marketing mix: product, price, place, promotion, process, people and physical environment.

The marketing mix is composed of the combination up to four controllable factors which include product, promotion, place and price. These four are commonly termed as the four P's. Product is normally regarded as a tangible good or in other cases an intangible service. All products follow a logical product life cycle which is vital for marketers to comprehend and thus plan for several stages and thus any of their unique challenges. The price is the actual amount the buyer is expected to willfully pay for a product. How a product is priced will directly affect how it sells. The promotion entails sales promotions, public relations, special offers and . Whatever the channel used, it is necessary for it to be suitable for the product, the price and the end user it is being marketed to. The place concerns where the product will be provided by to the customers. Distribution is also a key factor and element of placement. In most cases, the placement strategy will normally help assess what channel would be the most suited to a product. They are known as variables because they change over time and takes different values in different occasions.

These include People, processes, programs, and performance. While McCarthy’s original four P’s were a strong starting point, the modern marketing management four P’s suits today’s market much better. People are what make our businesses thrive, not the product they produce. The processes the business undergoes is often more important than the “place”. Promotion is very one-sided, which is why programs is more fitting for today’s market. A program is a consumer directed activity that breaks through the visual noise that a promotion would offer. Performance can be seen from either a financial or nonfinancial perspective. Performance can go far beyond the just the price of the product. As you can tell, the modern marketing management four p’s is a much more human and updated approach to the tried and true

Contents * Introduction........................................................................................................................... 2 * Brief Background of British Airways....................................................................................... 2 * The Marketing Mix................................................................................................................ 3 * S.W.O.T. Analysis................................................................................................................... 5 * British Airways Target Market and Positioning Strategy....................................................... 7 * Marketing The Marketing Mix 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’.

Another way to focus on the companies marketing strategies would be the four P 's (Product, Place, Price, and Promotion). There is an importance of understanding the marketing mix to sell more products as well. Developing an effective and successful marketing mix takes more of an experimentation and following up the process to determine the most effective method of marketing of a product or service for the customers.

2.1) 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)

MARKETING MIX: Marketing mix is one of the most popular terms of the management. Marketing mix includes several terms like place, price, product and promotion these factors hold the key and known as Four P’s and even though there are some other factors like people, process and physical evidence. Any organization either a profit-making or non profit-making has to analyse and understand all these factors because they play a vital role in the marketing environment.

1.     MARKETING MIX Marketing services is Marketing People. When a customer signs an underwater IRM contract, he is buying a service to be performed. In the end, he will be the owner of a tangible product, Inspection Report, but the quality and cost, as well as the suitability of that report

The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange,

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

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 'marketing mix' is a set of controllable, tactical marketing tools that work together to achieve company's objectives. The marketing mix analysis is also called 4P analysis. This analysis contains a set of controllable strategic tools of marketing which work in simultaneously to attain the objectives of an organization. In this paper we will analysis two organizations with respect to their marketing mix. The companies that I have chosen for this task are Pepsi Co and Coca Cola.

The marketing mix is a synonym of 4ps, which is made of the four relevant components of all product strategy. These are Product, Promotion, Price and Place. They hold the opportunity for the company to differentiate. (Borden, 1964). The four “P”s of product, price, promotion and place constitute the offer that an organization offers to the business. If this offers suits well the consumers’ needs, it should lead to sales. In addition, if it’s sufficiently managed, these sales should add profit to the business. (McDonald, 2013) suppliers need to understand the attributes and benefits the buyers’ value so that they customize each

The Role Of Marketing In A Corporate Environment The definition of Marketing in the eleventh edition of Marketing: An Introduction is stated as the process by which companies create value for customers and build strong customer relationship in order to capture value from customers in return. How does the corporate