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Marketing Mix Paper

1543 words - 6 pages

Today, the focus of marketing and the management of marketing are some of the strategies and planning needed by today's marketers to be successful in the business world. Marketing strategies must focus on developing the target audience and are directly related to the Marketing Mix. In this paper I will define and describe the elements of the marketing mix and how each are interrelated. I will also relate these and the impact of the marketing mix on a selected company.The marketing mix concept became popular after Neil H. Borden published "The Concept of the Marketing Mix" in 1964. In his article, Borden described how James Culliton had described the marketing manager as a "mixer of ingredients" in which the mix included product, price, place and promotion. The marketing mix approach to marketing is a model of creating and implementing marketing strategies. The marketing mix stresses the mixing or blending of various factors in such a way that both organizational and consumer, or target, markets objectives are attained.The first component of the marketing mix is the product that one wishes to market. The product section of the marketing mix deals with creating the right product or service for the designated target audience. This product refers to a tangible or physical product or a service - it does not have to be a physical product. Some examples are Warranty, Repairs and Services, Packaging, Quality and Styling. The product can also be a set of causes. The product of a group like the Nature Conservatory has a set of causes it will work to achieve. A good product markets itself because it gives benefits and value to the customer. Companies that market their product need to consider its strengths and weaknesses when comparing to other similar products on the market. Design of the product or the needs of the end user must also be considered because one wants the product or service to appear as satisfying to the end users. Along with the design, product packaging of the product must have appealing nature which can be beneficial to the marketing mix.Proper placement is part of the product mix and is an important element in the marketing mix. The definition of marketing place is " Place simply refers to how you will sell your products to your customers. Depending on what it is you are selling will directly influence how you distribute it, and it affects mainly those businesses that are in production. "(Business Bureau-UK, 2007) Place has a large influence in the decisions which are needed to get the right product to the right place. No product, no matter how well designed, is any good to the customer if it is not available when desired.Promotion is the representation of the product to its target audience and telling them that the product is the right one for them. Some of the elements in product promotion are personal selling, mass selling, and sales promotion. The main function of promotion is to create a desire in the customer which will influence...

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