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The Four Elements Of Marketing Essay

837 words - 4 pages

Marketing strategies generally rely on four important elements; product, price, place, and promotion. Together, these four elements make up the marketing mix. The purpose of marketing mix is to satisfy the needs of consumers, achieve marketing goals, and create competitive advantages for companies in the marketplace. For this essay, a study was performed to gain understanding of how the marketing mix is utilized for Activia Probiotic Yogurt.

Activia is a brand of yogurt, owned by a company named Groupe Danone. Here in the United States, the company is known as the Dannon Company. The yogurts come in a variety are creamy and delicious, come in a variety of flavors, and contain probiotics, ...view middle of the document...

One of the ways The Dannon Company promotes the benefits of Activia, is by highlighting that it contains probiotics, which is essential for regulating the digestive system. Natural fruit flavors, quality of the yogurt, and features of the containers, are highlighted in advertisements as well.
The element that can affect business revenue, positively or negatively, is price. This is the money value of a product that a consumer pays to a seller (Collins Dictionary of Business, 2006). Before setting a price for a product, production costs must be factored in. If the price of a product doesn’t cover costs, it may lead to an exhaust in financial resources, and ultimately business failure. Low pricing may increase sales; however, it comes with the risk of being in the negative. Setting the right price for a tangible good also requires thorough market research, and sufficient analysis of what similar products on the market are selling for. The price set for a product comes down to how much consumers are willing to pay. If a product is marked too high, it may be perceived as high end, and will attract only a small number of consumers. Most consumers like to compare prices when shopping and will go for products that are budget friendly. After comparing prices of multiple brands of premium yogurts, Activia was found to be affordable and consistent with its comparable brands.
Place is the location where exchange of money for tangible goods occur. It is the element of the marketing mix that ensures product availability to consumers. Supermarkets, convenience store, car dealerships, and pharmacies, are examples of...

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