University of Phoenix
In a successful marketing campaign the needs of the customers are successfully met. In meeting the customers needs it can be simplified by meeting the variables of marketing mix. The company Apple will be used as an example with their use of the marketing mix. This paper will be discussing product, place, promotion, and price as it concerns apple.
The product area can be explained as, “The Product area is concerned with developing the right “product” for the target market” (Perreault, Cannon, & McCarthy, 2011, p. 36). The product can be either a physical good or a service a ...view middle of the document...
The return policy of a product is the policy on when a company will buy back previously sold golds. Stipulations may exist because of use and time.
Price is another variable of the marketing mix is very important to consumers. Developing a price to bring in customers but still make a profit is a necessary step in any marketing campaign. The following are elements of price. The list price of a product is the standard price the consumers will pay. Discounts and allowances are price reductions based on different factors. There may be an early payment discount or a multiple purchase discount as well. They also may occur because to coupons, rebates, or customer status. Payment period is scheduled that the customer must make payments for the goods or services he bought. Credit terms include the time permits repayment, late fees, penalties, and what each payment will consist of.
Promotion is the next variable of marketing mix to be discussed. The following are the elements that make up promotions. “Sales promotion refers to those promotion activities—other than advertising, publicity, and personal selling—that stimulate interest, trial, or purchase by final customers or others in the channel” (Perreault, Cannon, & McCarthy, 2011, p. 38).
Advertising is the funds the company use for media or other avenues of promoting the product. Sales force refers to the individuals of the company in charge of selling the product. Public relations concerning marketing is the relationship the company has with the public. The company needs constantly to ensure that good public relations occur. Direct marketing is advertising not accomplished through regular adds. Direct marketing involves flyers or catalogs sent directly to consumers.
The last variable of the marketing mix is known as place. Place refers to the location and avenue that the product will be distributed to the public. The following are elements of this variable. Channel is the course of action that will be used for the product. In this case the avenue that the product is distributed. The coverage of a product is how many locations or stores sell the product. Coverage can be manipulated to target certain demographics or areas. The assortment of a product deals concerning several facts of the product. The factors include the number of products the products line and the number of products that the company offers. It also refers to the varieties of the product and consistency.
Where a product is found is its location. This can refer to the region or areas that the product is offered. The inventory of a product is how much is kept on hand in storage. The sales rate of the product typically will cause the inventory to be at a certain level to meet demands. The transport of goods is the methods of getting the goods from production to the consumers. It can be transported by air, land, or sea
When people think about Apple it is not just another...