Marketing Mix Essay

987 words - 4 pages

Running head: MARKETING MIXMarketing MixYour Name HereUniversity of PhoenixMarketingMKT/421Bonnie NichollosNov 12, 2007Marketing MixMarketing mix is defined as "the controllable variables the company puts together to satisfy this target group." (Perreault and McCarthy, 2004). This paper will describe the four elements of the marketing mix which are product, place, price and promotion and how each of the four elements of the marketing mix impacts Starbucks' marketing strategy.The first Starbucks opened its doors in 1971 in Seattle Washington. One of Starbucks key focuses is creating the ultimate customer experience. Starbucks is dedicated to their customers and to their employees; the relationships they have established to conduct business, the communities that support them by giving back to non-profit organizations and project, but also a dedication to the environment by raising awareness of global warming and not to waste anything.ProductThe Product area is concerned with developing the right "product" for the target market (Perreault and McCarthy, 2004). Starbucks has a wide range of products and has innovative ideas for their coffee creations, from a hot Caramel Macchiato to a Java Chip Frappuccino. For the non-coffee drinkers Starbucks offers Tazo tea drinks, hot cocoa, juices and bottled water. Starbucks also offers seasonal specialty beverages such as the Gingerbread Latte and Peppermint Mocha served during the holidays.As the company grew so did their products and services introducing items such as fresh packed ground Starbucks coffee, sweets, fruit cups and sandwiches. Starbucks introduced an extensive line of coffee and tea apparatuses, storage containers, cute gift trinkets, gift cards, CDs and in home espresso makers. Starbucks also offers services beyond the stores such as wireless internet services and newspapers available for customers to enjoy while relaxing in the store or for purchase. All the products and services that were introduced by Starbucks are related to coffee and catering to the customer experience.PlacePlace simply refers to where will the product or service be sold. A product is not much good to a customer if it is not available when and where it is wanted (Perreault and McCarthy, 2004). Starbucks is the largest coffeehouse company the world, with 7,521 company-owned and 5,647 licensed stores in 40 countries, making a total of 13,168 stores worldwide. (Wikipedia.com). For busy people Starbucks offers the convenience of drive-through locations. Starbucks satellite locations can be found in local retail stores such as Barnes and Noble Book Store or on the shelves in air tight sealed packages or in the freezer section with yummy coffee flavored ice creams at the grocery store. It is typical to see several Starbucks in one town, even in a small town. I live in a small town in California with a population of about 76,000 and my town has 4 Starbucks all of them equally busy serving customers.PricePrice is the determination...

Find Another Essay On Marketing Mix

Marketing Mix Essay

1387 words - 6 pages What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization. After a target market is selected

Marketing Mix Essay

1531 words - 6 pages Running Header: MARKETING MIX PAPER PAGE \* MERGEFORMAT 1 MARKETING MIX PAPER PAGE \* MERGEFORMAT 2 Marketing MixDiane BeleauMKT/421Instructor: Ron Stirpe28 April 2014Marketing Mix - IntroductionA marketing strategy provides a big picture of what a company can do in a specific market. When creating a marketing strategy, a company must identify a target market and a related marketing mix."To find the best marketing strategy and mix, the

Marketing Mix

1773 words - 7 pages New products and new services offered by any company demand an overall marketing strategy to ensure the utmost success. A company's marketing plan should not stop there, however. The next step companies should take towards completing their marketing plan is to plan the details of the marketing mix. The marketing mix, or the 4 P's of marketing, are "the variables that marketing managers can control in order to best satisfy customers in the target

Marketing Mix

1224 words - 5 pages Walmart's Marketing Mix PAGE \* MERGEFORMAT 5 Running head: WALMART'S MARKETING MIXWalmart's Marketing MixUniversity of PhoenixWalmart's Marketing MixFour elements are integral factors in the marketing mix. These four elements, or otherwise known as the "four P's," of a marketing mix are product, place, price and promotion. This paper will discuss what the "four P's" of marketing entail. The paper will also discuss Walmart, a retail giant, and

Marketing Mix

1496 words - 6 pages As businesses and organizations strive to build a company "playbook" that satisfies the needs of the targeted customer's, an important element to consider in regard to accomplishing the goal is the marketing mix. A marketing mix is the controllable variables a company puts together to satisfy a targeted group (Perreault and McCarthy, 2005). A marketing mix can be used when a company is seeking to launch a new product or evaluating a current

Marketing Mix - 1503 words

1503 words - 6 pages According to Armstrong and Kotler (2005) "marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization" (p. 113). Several variables can be used to help aid in making the right decision when it comes to marketing. This paper will describe the various elements of the marketing mix by utilizing three sources. In addition, this paper will describe how each

Marketing Mix - 1177 words

1177 words - 5 pages Marketing is a vital part of any business and is an integral component of selling any product. Whether the business is a small mom and pop operation or a world leader, marketing is a part of the business. Because there are many ways to fulfill the needs of the customer, a straight-forward approach is to consider the four "Ps" of the marketing mix. This paper will examine the marketing mix and give examples of the marketing mix as it pertains to

Marketing Mix - 1261 words

1261 words - 5 pages IntroductionA marketing mix is the controllable variable the company puts together to satisfy a target group. ( Perreault, 2004) Marketing mix is also a concept that summarizes the basic elements of effective implementation of the fundamental variables of marketing. The strategy chosen by the organization is followed through to the customer. These fundamental elements are commonly referred to as the Four P's. Properly covering each of these

Marketing Mix - 1272 words

1272 words - 5 pages 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

Marketing Mix - 1626 words

1626 words - 7 pages A marketing mix defines the marketing strategy a business plans to use in order to sell their products or services to consumers. The marketing mix is a combination of the four P’s of marketing, known as the product, place, promotion and price. By reducing the elements of the marketing mix into these four categories, management can manage the marketing plan more efficiently and develop an effective marketing strategy. No one element of the

Marketing Mix - 1348 words

1348 words - 5 pages 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

Similar Essays

Marketing Mix Essay 1032 Words

1032 words - 4 pages Marketing Mix Marketing Mix Through the marketing strategy businesses are able to depict what customers they wish to supply. When the marketing strategy is classified the business then puts together a strategy plan. There are four sets of tools called the marketing mix that businesses use to implement the marketing strategy. The following tools are: product, place, price, and promotion. About the Organization In the

Marketing Mix Essay 1002 Words

1002 words - 4 pages Untitled Marketing and the management of marketing focus on the planning and strategies used by marketers in today's business world. Marketing strategies focus on the target audience and are directly related to what we call the Marketing Mix. The purpose of this paper is to define and describe what the elements of the marketing mix are. We will also examine what the impacts of marketing mix are on a selected organization

Marketing Mix Essay 909 Words

909 words - 4 pages Marketing and the management of marketing focus on the planning and strategies used by marketers in today's business world. Marketing strategies focus on the target audience and are directly related to what we call the Marketing Mix. The purpose of this paper is to define and describe what the elements of the marketing mix are. We will also examine what the impacts of marketing mix are on a selected organization.Marketing mix has been defined as

Marketing Mix Essay 2919 Words

2919 words - 12 pages Marketing Mix Has today's dominant marketing mix paradigm become a strait-jacket? A relationship building and management approach may be the answer. The marketing mix management paradigm has dominated marketing thought, research and practice since it was introduced almost 40 years ago. Today, this paradigm is beginning to lose its position. New approaches have been emerging in marketing research. The globalization of business and the