The Four P’s of the Marketing Mix Shandalia Whitener American Intercontinental University Abstract This paper discusses the marketing mix. The writer explains the four p’s that make up the marketing mix in order to market a product or service. The writer also applies the marketing mix to a new model smartphone provided by Samsung. The marketing mix reveals what is most important in marketing the product in order for the marketer to make successful decisions for marketing the product. Once the
already established itself as an IT and ITES company in India with a huge market share of 40% and since it is now looking to expand overseas I believe JSR should focus on United States of America (US), European Union (EU) and Brazil, Russia, India and China (BRIC) nations for their international expansion. We would though emphasize more on the dominant players in the IT and IT enabled services business i.e. US and EU. The competition though will be with the dominant players of the market for eg Microsoft
The 4 P’s of the Marketing Mix The Marketing Mix refers to the controllable parts of the marketing process that can be used to influence a consumer to buy. It also helps a brand to establish a name and distinguish itself from competitors. Marketing is often thought to be just a method of selling or advertising. This idea traces back to the early days of advertising when the primary goal of a marketing campaign was to help a seller sell more product. This is no longer the case in the modern world
The Marketing Mix of IGA I. Executive Summary of Marketing Mix Marketers considered the Marketing Mix model as a tool to reach their mission in the marketing strategy. Traditionally, the Marketing Mix has four considerations known as the 4P 's — Product, Price, Place and Promotion. 1. Product The organization creates the products that its intended customers want to buy and define and improve the characteristics of products or service that meet its customers ' expectations, not only now but in the
The marketing mix was claimed to be introduced by Borden (1965) by himself and was suggested to him by Culliton (1948) as he described the action of a business decision-making as “mixer of ingredient”. The marketing mix is known to be a business tool to most, which needs to be taken under consideration in order for the business to be successful. The marketing mix was first originated from the single P, which was “Price” from the microeconomics theory (Chong 2003). Due to competiveness, new P’s were
Critical Evaluation of the Marketing Mix “The Marketing Mix is a combination of Product, Price, Place and Promotion (The four P’s) that helps increase sales to the target market” (McCarthy, 1960 cited in Combe 2006 p126) This systematic tool is more commonly used once a business has decided on its overall competitive marketing strategy. This includes analysing marketing opportunities and selecting a target market. The development of the four P’s to the advantage of a specific business can be
Introduction 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
BSBMKG502B - ESTABLISH AND ADJUST THE MARKETING MIX Assessment Task 1 – Work Based Knowledge Test 1. What are the characteristics of the products and/or services in your business? Ans. I am working in . We are selling burgers as well as fries and soft drinks. But recently we start selling frozen coke and ice cream, which Mc d was selling and now we are making good money. 2. How do these products and/or services relate to the market they are in, and to the immediate competitors? Ans. We have
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) Product: This is the most important
Marketing is the management process involved in identifying, anticipating and satisfying consumer requirement profitably. This marketing mix comprises of product, price, place and promotion (Surridge and Gillespie pg.190). Sometimes people argue that an element of the mix is more important than the others but I do believe that they are all equally essential for the success of a product. In this essay, I am going to explain the various elements of marketing mix, if the product is the most important