This website uses cookies to ensure you have the best experience. Learn more

Marketing Mix Describe The Elements Of The Marketing Mix. Mkt/421

553 words - 2 pages

IntroductionMarketing mix is the s ....What is Marketing? Well so far my understanding from the information I have reviewed in regards to marketing, is that marketing is the basic process by which a product or service is determined, then it is priced, promoted, and distributed to consumers. Overall the marketing of a product is the defining action in which a company determines what needs have to be met in order to get the product distributed to the consumers. This paper will review marketing as defined in this weeks reading.MarketingMarketing concentrates primarily on the consumers. After determining, the consumer's needs and wants for a product, the marketing department or firm must then create a marketing strategy that will educate the consumer of a particular product. Then the marketing process becomes an ongoing cycle.Marketing includes planning, organizing, directing, and controlling the decision-making regarding product lines, pricing, promotion, and servicing. The marketing department or marketing firm has to account for numerous factors when launching a new product or product line. Some of the factors for the marketing team to consider would be Who is using the product? What is the best way to distribute the product? Where to distribute the product and What is the cost of this product? Marketing does not stop once the product is on the market, then it most considered how to maintain a high level of demand for its product and then how to keep this product up to date or when is it the right time to develop a new product. So many factors and decisions need to be reviewed and executed in regards to marketing.Marketing in a global arenaWhen marketing a product into the international arena there are of course the same principles that...

Find Another Essay On Marketing Mix - Describe the elements of the marketing mix. MKT/421

Marketing Mix Analysis Marketing 421

734 words - 3 pages Marketing MixThe term "Marketing Mix" was born in the early 1960's and is one of the more popular phrases used in marketing. So what is the Marketing Mix? In an article titled "The Concept of the Marketing Mix" written by Neil H. Borden describes the four elements that actually make up the marketing mix. The four marketing elements of the mix are for all intents and purposes marketing tactics that are used to effectively execute a marketing

The impact of Marketing Mix Essay

774 words - 3 pages company. Good customer relationship marketing is one of the efforts of marketers emphasise on creating and maintaining long-term relationship with the customers. It is true that satisfied customer will remain loyal and talk favourably about the company and products. However, good customer relationship marketing alone is not enough to differentiate a company from all the other competitors. It is also not enough to create customer satisfaction

The Marketing Mix

911 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

The Marketing Mix

2239 words - 9 pages how the marketing mix works, one can think about a more commonly known mix, such as the one used to make a cake. All cakes contain eggs, milk, flour, and sugar. However, one can change how the cake will turn out by altering the amounts of mix elements contained in it; for a sweeter cake, add more sugar (Marketing Teacher [MT], 2008). Such is the case with the marketing mix. Whatever offer a company makes to its customers can be altered by varying

The Marketing Mix

1523 words - 6 pages The Marketing Mix The objective of this document is to gain an understandable idea of the marketing mix. The marketing mix is an indispensable element of every firm’s marketing arrangement. The marketing mix includes four key facets recognized as product, place, price, and promotion. The mix is the arrangement of the entire four groups in which a thriving marketing movement is generated. In an effort to identify with the elements of the

The Marketing Mix

1379 words - 6 pages , packaging and other factors Overall that information, a business firm controls four important elements of marketing that it combines in a way that reaches the firm’s target market. These are depended on the Product itself, the Price of the product, the means of the selection for its Place, and the Promotion of the product. When combined, these four elements form a marketing mix (see Figure 2.1). A firm can contrast its marketing mix by

The Marketing Mix - 673 words

673 words - 3 pages In order to achieve the marketing objectives, a corporation needs to have a strategy that includes different elements, the various parts of the marketing mix. The marketing mix reminds the corporation to get the balance right between the different elements. It is easy to assume that one part of the marketing mix is wrong when, in fact, it is another.Marketers have fours tools to use to develop an offering to meet the needs of their targeted

The Marketing Mix - 1204 words

1204 words - 5 pages There are four elements to the marketing mix. These four elements consist of product, place, price and promotion, also referred to as the “four P’s”. All elements are just as equally important in contributing to the marketing success of any company. Technology Assurance Group, also known as TAG National is an organization that utilizes the marketing mix to remain a profitable organization. They currently have 117 members across

The Marketing Mix - 2211 words

2211 words - 9 pages AbstractThe concept of marketing is very broad. There are many things to consider when effectively introducing a product into the market. Most important is the marketing mix made up of the four P-s, which are the controllable variables in a marketing strategy.The Marketing ConceptThere are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction of customer needs. The marketing concept is the

The Marketing Mix

1925 words - 8 pages The Marketing Mix Description of the Marketing Mix: Marketing is the way in which a business promotes its products or service. Marketing is not solely selling the product; it is concerned with identifying customers and satisfying their needs/wants at a profit. Businesses have to sell what they produce/serve. To do this, marketing decisions must be made, which involve: PRODUCT - what products will be

The Marketing Mix - 1412 words

1412 words - 6 pages The marketing mix, which consists of price, product, place and promotion are essential tools that play a vital role in determining the fate of a business. The right marketing mix could mean profit and an unbalanced marketing mix could be the reason behind a business’s downfall. A simple search on “Bopal” takes us to the Bhopal gas tragedy

Similar Essays

Marketing Mix The 4 P's Mkt 421

1103 words - 4 pages Marketing Mix 3The Four P's 3Product 3Place 4Price 5Promotion 6Marketing Mix and the Market Plan 7References 8Marketing MixThe marketing mix revolves around the customer and their desires and/or needs. Although the customer is not included in the marketing mix, the customer is the center of the marketing mix profile -- "The customer should be the target of all marketing efforts" (Perreault & McCarthy, 2005, p.38). The marketing mix is a

Marketing Mix Mkt / 421 Uop

1102 words - 4 pages Marketing MixSince the marketing mix paradigm was introduced by Borden in 1964 and honed to the 4Ps by McCarthy, marketing mix is an idea, which influenced as well as divided by the marketing professionals. The original theory was developed by Borden and later it was reduced to four basic elements: Product, Place, Promotion, and Price (Perreault, McCarthy, J. 2004 pg. 38). The theory is based on the consideration of the target market. Marketing

The Elements Of The Marketing Mix

1339 words - 5 pages This paper will cover the elements of the marketing mix with an organization which I haveselected that I have been familiar with. The company that I have selected will be UnitedParcel Service. I will breakdown and describe the marketing mix and discuss in detail theproduct, place, price and promotion parts of this mix.Let us first start with what a marketing mix is defined as. A marketing mix is known asone of the most used phrases in the

Elements Of Marketing Mix Essay

1464 words - 6 pages Elements of Marketing Mix "A typical marketing mix includes a product, offered at a price, with some promotion to tell potential customers about the product, and a way to reach the customer's place" (Perreault & McCarthy, 2004, pg. 36). A company will use the marketing mix in order to control variables in marketing to satisfy a target group. This paper will describe the four elements of the marketing mix; product, place, price, and promotion