Term Paper on "Marketing Mix the Marketers to Bring Out"
Term Paper 3 pages (1219 words) Sources: 1+
[EXCERPT] . . . .
Marketing MixThe marketers to bring out desired responses from their target markets use a number of tools that form a marketing mix. Marketing mix is defined as the set of marketing tools that an organization uses to follow its marketing objectives in the target market. McCarthy has classified these tools as the 4Ps of marketing which are product, price, place and promotion. (Kotler, 1999) The 4Ps are the ideas to take into account while marketing a product. They constitute the root of the marketing mix. In order to efficiently market a product, it is therefore imperative to get an optimally correct mix of the 4Ps. In an ideal situation, if a company is able to plan a promotion for the right product, at the right price and to get it to their preferred market, in the right place then it is highly effective for the company.
Product:
The most basic marketing-mix tool is the product. This is the company's tangible offering to the market that includes the product quality, design, features, branding and packaging. Product can either be goods or a service that is available for sale either to an end customer or a commercial customer. A customer purchases a product and a consumer puts it to use. At times, a customer is also the consumer. For example a father might buy chocolates for his kids in which case the father is the customer and the kid is the end consumer. It is the task of the marketing manager to find out who his target market is what their product demand is, and offer it to them for sale at every stage in the sequence. (The 4Ps and the marketing mix)
Price:
For a product to succeed in the marketplace, it
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Place:
company has to find the most optimal way to get the products in the hands of the consumer through network of dealers and retailers from whom the end consumer will be buying the products. The channels of distribution are the key to this area. Besides, direct marketing through catalogues, through the shopping channel of a TV and through the Internet through e-commerce have become widely popular, as the consumer can make his buying from home. This process helps the company in eliminating the people in the traditional distribution channels like dealer and retailer, and can thus rake in more profits. However, the bulk of the sales take place through the traditional chain of wholesalers and retailers ands this is the most widely popular form of distribution of products. (The 4Ps and the marketing mix)
Promotion:
The primary objectives of promotion are to influence, notify and make people more conscious of a product brand,… READ MORE
Quoted Instructions for "Marketing Mix the Marketers to Bring Out" Assignment:
Marketing Mix Paper
Prepare a 700-1,050-word paper describing the four elements of the marketing mix (product, place, price, promotion). In addition, describe how each element is implemented within a specific organization of your choice and how the four elements relate to that organization’s marketing strategy. Be sure to identify the name and type (profit, non-profit, government, etc.) of the organization and its product or service offering
How to Reference "Marketing Mix the Marketers to Bring Out" Term Paper in a Bibliography
“Marketing Mix the Marketers to Bring Out.” A1-TermPaper.com, 2005, https://www.a1-termpaper.com/topics/essay/marketing-mix-marketers/215354. Accessed 3 Jul 2024.
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