Marketing Mix :: essays research papers

The trade MixMarketing schema is integrated with the trade program, or market mix. The marketing mix traditionally includes variables such as price, product, promotion, and transport. For this reason, the marketing mix deals more with implementation, and is not defined specifically as character of marketing strategy. Marketing mix is ofttimes used in combine with strategy to help marketing managers shape up their product and/or avail and it provides a useful framework for decision-making. The customer is the show of all marketing runs. There are many workable ways to execute the necessitate of grade customers and these variables are organized into the marketing mix or the 4 Ps ( harvest-feast, Price, Place, and Promotion).Product A product is the need-satisfying offering of a firm including physical ingenuouss or serve Price The price is the follow of money that is charged for something of value. Place The place is the making of bullys and services ready(pren ominal) in the justifiedly quantities at the mighty locations. Promotion Promotion is the communication of information between seller and potency buyer or early(a)s. The Product area is touch on with developing the pay on product for the targetmarket. This whitethorn involve a physical good, a service, or a get going of both.The important thing to remember is that the good and/or service should satisfy some customers needs (Perreault, 2002).Place is concerned with all the decisions involved in getting the right productto the target markets place. A product isnt much good to a customer if it isntavailable when and where its wanted.The third P (Promotion) is concerned with telling the target market or othersin the contribute of distribution about the right product. Sometimes promotion isfocused on acquiring new customers, and sometimes its focused on retaining catameniacustomers. Promotion includes personal selling, mickle selling, and salespromotion (Perreault, 2002). In growth to developing the right Product, Place, and Promotion, marketingmanagers mustiness too decide the right Price. Price setting must consider the kind ofcompetition in the target market and the be of the whole marketing mix (Perreault, 2002). A manager must also try to estimate customer reaction to possible prices. If customers wont accept the price, all of the planning effort is wasted.All four Ps are needed in a marketing mix. The four Ps must be productively combined, so that a company develops the top hat mix for its target market. In other words, each decision must work well with all of the others to bemuse a logical whole.Marketing Mix essays research papers The Marketing MixMarketing strategy is integrated with the marketing program, or marketing mix. The marketing mix traditionally includes variables such as price, product, promotion, and place. For this reason, the marketing mix deals more with implementation, and is not defined specifically as part of market ing strategy. Marketing mix is frequently used in combination with strategy to help marketing managers promote their product and/or service and it provides a useful framework for decision-making. The customer is the target of all marketing efforts. There are many possible ways to satisfy the needs of target customers and these variables are organized into the marketing mix or the 4 Ps (Product, Price, Place, and Promotion).Product A product is the need-satisfying offering of a firm including physical goods or services Price The price is the amount of money that is charged for something of value. Place The place is the making of goods and services available in the right quantities at the right locations. Promotion Promotion is the communicating of information between seller and potential buyer or others. The Product area is concerned with developing the right product for the targetmarket. This may involve a physical good, a service, or a blend of both.The important thing to remember is that the good and/or service should satisfy some customers needs (Perreault, 2002).Place is concerned with all the decisions involved in getting the right productto the target markets place. A product isnt much good to a customer if it isntavailable when and where its wanted.The third P (Promotion) is concerned with telling the target market or othersin the channel of distribution about the right product. Sometimes promotion isfocused on acquiring new customers, and sometimes its focused on retaining currentcustomers. Promotion includes personal selling, mass selling, and salespromotion (Perreault, 2002). In addition to developing the right Product, Place, and Promotion, marketingmanagers must also decide the right Price. Price setting must consider the kind ofcompetition in the target market and the cost of the whole marketing mix (Perreault, 2002). A manager must also try to estimate customer reaction to possible prices. If customers wont accept the price, all of the planning e ffort is wasted.All four Ps are needed in a marketing mix. The four Ps must be productively combined, so that a company develops the best mix for its target market. In other words, each decision must work well with all of the others to make a logical whole.