What Is The Four P's Marketing Approach

Amazon believes in keeping its marketing plan simple in order to be effective. Consequently, their marketing plan is based upon the 4 P’s (product, price, place, and promotion). Amazon’s product is to provide an unparalleled selection of any item that exists on the planet. Its prices are extremely competitive and often lower than traditional stores and it is more convenient for people to shop on the internet (place) than it is in a physical location. Finally, its promotion emphasizes big ideas, innovation, technology, and customer centricity, enabling it to market itself as the most convenient place for consumers to shop and satisfy their needs (Kerin & Hartley, 2015). This strategy targets

The first P that the paper will address is Product. Professionals, researchers, and students of marketing must understand the importance of crafting the right product to satisfy the needs of the intended consumer. This P has a lot to do with the product, from design to production to distribution. This P also has a great deal to do with the consumer. Professionals and organizations of marketing must know the target consumer very well. When the marketing professional or marketing firms has an extremely clear concept of the intended consumer, they will be in a strategically stronger position to introduce a new product or service. (Ehmke et al, 2005)

The success of an organization depends on the ability of the business entity to adopt and integrate quality marketing mix. This relates to the generation and implementation of an effective and substantial balance among the elements of the marketing mix. The organization creates a successful mix through consideration of four critical factors. One of the main aspects of a successful marketing mix by an organization is making sufficient decision in engagement of the right product (Everett, 2009). This is an indication that the product must have the right features thus attractive to the target audiences in diverse market segments. The second consideration is the adoption of an effective and appropriate price mechanism with the aim of exploiting the available market opportunities. According to this factor, organizations must adopt effective pricing mechanism in order to offer quality products at healthy profit levels. The third consideration or success factor is a critical decision with reference to the right place for marketing and distribution of the product. This is a reflection of the need to deliver products at the right place at the right time for the satisfaction of the needs and preferences of the consumers. Finally, the organization should also make substantial decisions in consideration for appropriate, effective, and efficient promotion or advertisement mechanism. The main objective of this project is to examine the marketing

Marketing mix is used at the MARC facility to develop and implement a plan to achieve organization goals. The four variables product, price, place, and promotion are within the organization’s control and therefore, the mix of those four elements are key in marketing decisions. Marketing mix is the combination of all the experiences, tools, innovations, and creativity that the MARC uses to make consumers their clients. All four P’s are needed in a marketing mix they should all be tied together. Revenue, while promotion, place, and product generate cost. Producing, designing, distributing, and promoting products come with expenses.

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

In this paper about the Marketing Mix, it will explain the elements of the marketing (product, place, price, and promotion). I have enclosed a chart about the Pricing Strategies Mix. I will also be selecting an organization by the name of Target in which I am familiar with and will describe the four elements of the marketing mix and how it impacts the organizations developmental marketing strategies and tactics.

A marketing strategy is the combination of the target market, or the customers the marketing is intended to reach, and the marketing mix. Product, price, place, and promotion are components of the marketing mix, or the four p’s, which create a value for the customer (Perreault, Cannon, & McCarthy, 2009). For this reason, the customer, who is not part of the marketing mix, is the center of the target, surrounded by the elements of the marketing mix. The ultimate goal of a marketing strategy is to create value for the customer, which allows the organization to increase customer satisfaction and results in repeat customers and additional equity for the organization (Armstrong &

The fact is, marketing is changing, the way people doing business today is different, as the author says, those who don’t change their marketing strategies to meet the need of today’s consumer are not targeting for them at all.

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’.

In this essay, I am going to compare and contrast a 4P (price, product, place and promotion) approach to marketing versus the value approach (creating, communicating, and delivering value). Furthermore, explaining the sameness and difference of two companies who apply the 4P marketing approach or the value approach.

Marketing has evolved through a change in production and consumption due to the advent of new technology (Ranchhod, 2004). The development of technology has also driven the globalisation of communication. During this period, consumers are facing a variety of choices (Jackson and Shaw, 2009). Thus, companies need to actively embrace these changing factors to grow their business and succeed in the marketplace.

Today, in this world of advanced technology, an unhappy customer will tell "a million of their closest strangers”.2 Present marketing world is very competitive and dynamic. However, promoting competition in the markets directly or indirectly serves consumers through protecting consumer interests and increased economic efficiency. In this situation, every organization anticipates competitors’ moves and tries to capture the market over the competitors. Products or brands by themselves do not automatically usher in customer loyalty or strengthen customer relations. In today’s world, customers look for products that best suit their needs and purpose in terms of price, features, quality and appearance. They expect to be treated as "kings" and to receive sales and service support, along with definite solutions to problems from retailers, dealers or channel partners. From customer point of view, the company or brand exists only to create value for them and to provide them with results. In the fast-changing global economy, the focus must be on the way in which the nature of value is changing, involving new ways to determine price of goods, innovation and emotion. The implication of these new forms of exchange is a transfer of power from the producer to customer.

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 as a solution to his problem depend largely on the services rendered by the contractor. The buyer’s best evidence of the quality and competitive superiority of the service he will buy is the impression he gets of the professional capabilities of the manager and staff of the contractor. Therefore, the selling and creation of satisfaction for the buyer before, during, and after executing of the work is the responsibility of the

Marketing mix or 4 Ps of marketing is the combination of a product, its price, distribution and promotion. It must be designed by marketers in such a manner that these four elements together must satisfy the needs of the organisation’s target market, and at the same time, achieve its marketing

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)