The Elements of Marketing Mix: An Overview

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Introduction 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. The Elements of the Marketing Mix: An Overview The term marketing mix in the words of Lamb, Hair and McDaniel (2008) can be defined as "a unique blend of product, place (distribution), promotion, and pricing strategies (often referred to as the four Ps) designed to produce mutually satisfying exchanges with a target market." In the following section, I briefly discuss each element of the marketing mix identified above. Product This in basic terms includes the products (goods and services) an entity offers for sale to customers. To remain relevant in the marketplace, the products a firm sells must sufficiently satisfy the various needs of customers. In that regard, the said products should ideally be developed with the eventual consumer in mind. Key considerations in this case include but they are not in any way limited to quality, features, and design. Place This second element has largely got to do with where the products offered for sale by the business can be found. It has also got to do with how the business gets the said goods and services to its customers. In that

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