Marketing Mix Essay

1343 words - 6 pages

Marketing Mix

Andrew Pittman

University of Phoenix

MKT 421

Marketing Mix

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.

Product

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

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

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.

Place

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

Apple’s Product

When people think about Apple it is not just another...

Other Papers Like Marketing Mix

Marketing Mix Essay

1857 words - 8 pages Marketing Mix XXXXXXXXXXXXX MKT/421 October 16, 2013 XXXXXXXXXXXXXX Marketing Mix The Marketing Mix Marketing mix is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The marketing mix helps companies define the marketing elements for successfully positioning your market offer. The term "marketing mix" became popularized after Neil

Marketing Mix Essay

1229 words - 5 pages Marketing is a process where a product is defined; a plan is created for productions, sales, implementation, support and production. An effective market plan will incorporate products and services to meet a market need to create exchanges that will meet organizational objectives. This process is made up of a combination of processes referred to as the marketing mix. The term "marketing mix" became popular after the publication the article, The

Marketing Mix

1159 words - 5 pages competition.It is based on the principle that consumer-buying resistance will be overcome if the product satisfies buyer needs. In the following paragraphs I will describe the four elements of the marketing mix and how each element is implemented within TD Travel Group, a profit organization. I will explain how the four elements relate to TD Travel Groups marketing strategy. TD Travel Group's product offering is tourism.A target market consists of a group of

Marketing Mix - 7288 words

7288 words - 30 pages Marketing Mix Of Reliance Communications Marketing Mix Reliance communications 7 P’s of marketing for Reliance Communications Product Reliance mobile always faced the problem of weak network. So to correct the major have invested over Rs 300 crore to upgrade to NGIP (Next Generation IP) network. Product has to sell itself. Now they are launching about more than 1100 network towers to provide more coverage to its customers. Price

Marketing Mix - 1348 words

1348 words - 6 pages Marketing Mix MKT/421 Marketing Mix This world moves in a rapid pace when it comes to business, it is important to understand concepts and strategies that have been completed by successful entrepreneurs and follow the steps to get those ideas on the board and to the people hands. The marketing mix has been created as a map to getting a product or service out to market in an organized and effective manner

Marketing Mix - 1423 words

1423 words - 6 pages MG660 - Chapter 1 Assignment Syed Imran Farid September 30, 2015 Professor: Leon Guendoo QA1 The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution. The four Ps of marketing: The marketing mix can be

Marketing Mix - 867 words

867 words - 4 pages The American Institution for Healthcare and Fitness Marketing Mix Kimbla Gordon Eaton MKT/421 September 27, 2012 Dr. Donna Hawkins The American Institution for Healthcare and Fitness Marketing Mix When it comes to having everything a person could want in one building, the American Institute of Healthcare and Fitness (AIHF) is a winner. Kimbla G. Eaton walked into the Raleigh facility in May 2011 and has been faithful

Marketing Mix - 838 words

838 words - 4 pages Marketing Mix of Kraft Foods When a company, like Kraft food, look at an alteration in its promotion it can believe about four ground rules, which are documented as the marketing mix or 4Ps, explained below: Products: Kraft foods are one of the most versatile companies based in America. Over the many years, Kraft food is serving as one of the most famous, delicious and prominent brand. The major products of the company are in

Marketing Mix - 1330 words

1330 words - 6 pages watch in sports entertainment. The NFL used the marketing mix to become successful and stay successful over the years. The purpose of this paper is to describe the elements of the marketing mix. In addition to describing how each element of the marketing mix affects the development of the NFL’s marketing strategy and show how each element is implemented into the NFL’s marketing strategy. The marketing mix consists of four elements. The four

Marketing Mix - 1430 words

1430 words - 6 pages Marketing Mix 2 A marketing mix is what makes up the plan to bring a product or service to the market. There are four terms which are involved in this marketing mix idea and each term has an important role in the introduction of a product or service to consumers through the market place. The four terms are called the four P’s of marketing. These terms are product, price, place, and promotion. Each of these terms represents a step

Marketing Mix - 1065 words

1065 words - 5 pages Environmental Marketing Mix Introduction An increased focus on environmental issues, has contributed to a rise in the demand for environmentally friendly products and services (EFS). The spotlight on sustaining the environment has created new terminology such as “carbon footprint” and “offsetting”. Many organisations have adapted their marketing strategies to capitalise on the consumer appetite for EFS. EF marketing strategy takes into

Related Essays

Marketing Mix Essay 367 Words

367 words - 2 pages The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging

Marketing Mix Essay 572 Words

572 words - 3 pages product, no other part of the marketing strategy can be implemented. Price does play an important part in the marketing mix, but it should not rule the business. Price should be in line with a customer's perception of value. Price must also match the quality of the product being offered. Knowing what the breakeven point is also is important. Without this information, the price may not be enough to cover the costs of selling the product

Marketing Mix Essay 1329 Words

1329 words - 6 pages Running head: MARKETING MIX PAGE \* MERGEFORMAT 6 Marketing MixDiane FlanaganMKT421March 12, 2010Lance TinsethMarketing MixWhen planning a marketing strategy, an organization must consider certain elements that will enhance its product. Any organization that implements a viable marketing strategy will use a marketing mix that consists of product, price, place and promotion make up the marketing mix. Using these elements will help to ensure

Marketing Mix Essay 1700 Words

1700 words - 7 pages Marketing Mix Paper Alyce Shelton MKT/421 December 5, 2011 Instructor: Susan Craver Marketing Mix Paper The key to business success is smart marketing. Today’s mega-businesses consistently seek to develop unique products, use multiple combinations of marketing techniques, and reach new consumer targets. Verizon Wireless currently operates the world’s largest wireless cell phone network, with customers in over 150 countries. The company