The Extended Marketing Mix

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.

Abstract In this paper I will define what a good marketing mix requires and describe how a company uses this process to market their product. I have chosen Anytime Fitness as my company to do my paper on. Anytime Fitness is a unique style of fitness club that is in a very competitive market place. Their marketing mix focuses on all of the four P's to attract customers. They locate small neighborhood clubs close to where people live and work. They are a no frills workout center that offers weights and cardio equipment. This allows people with busy lifestyles to workout whenever they have time. Anytime Fitness also offers a very good pricing plan for individuals and families.

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

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.

A well-developed marketing plan is an essential blueprint for a business to attain the prime financial support and consumer base it requires in order for it to develop and grow. A marketing plan’s detailed structure allows manager’s to define the business’ marketing strategies in clear and in-depth formats that feature a precise roadmap to future growth and expansion. A first class and properly structured marketing plan will guide the entire organization’s marketing actions and keep them focused and dedicated toward achieving the company 's overall goals and strategies.

People refer to the customers, employees, management and everybody else involved in it. It is essential for everyone to realize that the reputation of the brand that you are involved with is in the people 's hands.

The portion of Strabucks marketing is reflecting the social aspects of their customers, while the other portion is focused on rebranding of their locations. Starbuck 's marketing mix(4P 's) indicates the importance of this marketing tool as a way to ensure that the firm promotes the right product at the right place and with right pricing.

The report is tasked to take an in-depth look at the marketing environment in which our chosen organization, bskyb operates within. The report is further tasked to identify why complacency should have no place in the complex competitive market in which bskyb operates. In order to address the issues at hand, the report will establish and identify the elements of bskyb marketing mix and outline the necessity to continuously “explore various possibilities of improving their activities towards satisfying the needs and wants of their target market”.

The definition of ‘marketing’ is widely debated among numerous professionals within the industry, The Chartered Institute of Marketing defines the concept as ‘the management process responsible for anticipating and satisfying customer requirements profitably’ whereas Kotler and Armstrong define marketing more simply as ‘managing profitable customer relationships’. Fullerton and Mers go into more depth and consider how the idea of marketing is presented when in the context of the sporting industry, they believe ‘sports marketing consists of all activities designed to meet the needs and wants of sports consumers through exchange processes’.

What is the marketing mix and why is it useful as a tool of analysis?

For instance, if a company were to sell high-end dress shoes, in order to separate their brand from the competition, they would need to advertise that their shoes are “comfortable, unique, and trendy”. These are feelings that the marketer wants the customer to think about when they are interested in buying their particular brand of shoe. Whereas, another shoe the customer may have tried on earlier at another company’s outlet store might have been considered “uncomfortable, expensive, or dull” due to their personal experience in the shop. Whether the company develops a completely new product or a new desired emotion, both are important strategies that are incorporated in order to increase revenue, customer interest, and repeat purchases.

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

Marketing Mix in Technology Industry Celina Kopp BSc (Hons) Business Management Contents TOC o "1-3" h z u HYPERLINK l "_Toc323986502"Executive Summary PAGEREF _Toc323986502 h 3 HYPERLINK l "_Toc323986503"Chapter 1 Introduction PAGEREF _Toc323986503 h 4 HYPERLINK l "_Toc323986504"1.1 Background PAGEREF _Toc323986504 h 4 HYPERLINK l "_Toc323986505"1.2 Objectives PAGEREF _Toc323986505 h 4 HYPERLINK l "_Toc323986506"1.3 Aim PAGEREF _Toc323986506 h 5 HYPERLINK l "_Toc323986507"1.4 Personal Statement PAGEREF _ Toc323986507 h

The term "marketing mix" was coined in 1953 by Neil Borden in his American Marketing Association presidential address. However, this was actually a reformulation of an earlier idea by his associate, James Culliton, who in 1948 described the role of the marketing manager as a "mixer of ingredients", who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried. A prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use.

Customer generating marketing has become very popular nowadays given the explosion in digital and social media. Engaging customers on a more personal interactive level is key to your bottom line. The marketing concept suggests that company strategies should revolve around creating customer value by engaging customers and building profitable relationships. In order for your company to be successful, all members of the company must participate in marketing, not just the marketing department. They must want to create value for the customer in order to engage them. It is a team effort. That is why it is important to understand marketing and how you play a role or fit in it.