The marketing mix is an essential component of every marketing strategy. The marketing mix is comprised of four distinct parts that include product, placement, pricing, and promotion. Regardless of what is going to be marketed, it is fundamental that a marketer know their product inside and out before any of the other three parts of the marketing mix can be utilized. The four Ps, as the four parts of the marketing mix are often referred as, can be used to demonstrate how Amazon's Kindle Fire has been marketed. The first P of the marketing mix is product. Colbert et al (2001) contend that "the product is the centerpiece of any enterprise" (p. 20). In essence, the product is any good or service that is going to be performed, sold, or used by a consumer. In the case of Amazon's Kindle Fire, the tablet and all of its components are the product that is going to be sold to the consumer. The second P of the marketing mix is pricing. The price of a product is usually a monetary value that has been assigned to a particular product. "Price also includes the effort a consumer must expend in the act of buying the product. Thus, there is always a price to pay for a product, even when it is free" (Colbert et al, 2001, p. 20). Determining the price of a product is always tricky as the marketer must take into consideration how much a consumer is willing to spend on a particular product. The Kindle Fire can be considered to be one of the most affordable tablets on the market. The Kindle
According to the marketing dictionary the marketing mix is a combination of marketing elements used in the sale of a particular product. The marketing elements center around four distinct functions, sometimes called the Four Ps: product, price, place (of distribution),
Product- A product is anything that can be offered to a market to satisfy a want or need, products include physical goods, services, experience, events, persons, places, properties organisations, information and ideas. It is therefore the combination of goods
The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and
A marketing mix consists of Product, Place, Price and Promotion. It is fundamental to understand these four elements for developing an effective marketing strategy.
The product is at the heart of marketing exchange process. For this example we will take a 3D television , that Apple sells. If the 3D television does not deliver the benefits the customer wanted , or if it does not live up to the customer’s expectations, then this can be very costly for Apple
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.
The first P in the marketing mix is product. A product is any physical good, service or idea that satisfies a want or need. Because the term “product” is somewhat vast in its definition, marketers dissect the meaning into a smaller unit known as a commodity. A commodity is a
Marketing mix is when the right product is put in the right place, at the right time, and at the right price. When an organization or company creates a product that attracts individuals and put it on sale or offer it to individuals it should may be place at a price in which it matches the value of the product and is worth what the consumers or individuals get out of it. The 4 Ps of marketing and the marketing mix are sometimes used as synonyms for one another because they are close to being the same thing. The 4 Ps of marketing mix are product, place, price, and promotion. Each component of the marketing mix has some type of importance and are given an equal abundance of importance. In the marketing mix the customer is the
Marketing encompasses everything from the products or services one sells, to how they are distributed to the customer. A Marketing Mix is the combination of products offered to reach a target market for the organization. "Marketing is much more than selling, or advertising (Cap Com Marketing, 2006)." The marketing mix is comprised of the Product, Price, Promotion, and distribution. The marketing mix is also known as the four P's.
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’.
The final marketing mix is the product. It refers to the goods and services provided for a customer to buy by the seller (Surridge and Gillespie pg.195). The nature of a product can be analysed on three levels the core, actual and augmented product. Core product is the actual use of a product, the actual product is the product itself and the augmented product is something extra that comes with the actual product (Surridge and Gillespie pg.195). The factors that differentiate products are their various designs, its quality, its reliability its features and its function (Surridge and Gillespie pg.196).
The purpose of this paper is to describe the elements of the marketing mix which is product, place, price and promotion. In addition, selecting the organization whom I work for which is DirecTv and describe how each one of the four elements of the marketing mix impacts the development of DirecTv’s marketing strategy and tactics. This paper will also be describing how each element is implemented.
The term marketing mix is defined as a set of marketing tools that the firm uses to pursue its marketing objectives in the target market. The marketing mix is an essential part of the formulation of a firm’s marketing strategy. It is important for an organization to have a good understanding of the marketing mix. Each element is important when developing a marketing plan. Traditionally, the marketing mix consisted of four broad categories of variables known as the 4 P’s: product, place, price and promotion. These are the variables the firm can control in order to best satisfy customers in the target market.
The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange,