Marketing Mix The Marketing Strategy - 1335 Words

Marketing Mix is one of the most important concepts for marketing. Marketing mix is also called the 4Ps, which are price, place, product, and promotion. They are the ingredients that combine to capture and promote a brand or product’s unique selling points that differentiate it from its competitors. Neil H. Borden, an advertising professor at Harvard University coined the term marketing mix. The ideas behind Borden’s model were refined over the years until Edmond Jerome McCarthy, a marketing professor and author Jerome McCarthy, a marketing professor and author reduced them to 4 elements called â€Å"The Four Ps.† This classification is currently being used by marketing companies, branding agencies, and web design companies around the world.†¦show more content†¦Place (Distribution): Companies can either handle distribution through a single channel or a combination of strategies such as selling directly to consumers through a company field sales force, operating through independent intermediaries at the local level, or depending on an outside distribution system that provides regional or global coverage (Czinkota and Ronkainen, 1996). (p.113) All companies have to catch the eyes of the consumer because it will be easy to sell the product, if the customers feel attraction to the product they would buy it. So it will be a good distribution or â€Å"place† strategy. According to Cheon et al. (2007) Promotion is â€Å"The general requirements of effective promotion strategies can apply the global communication as well (p. 114) here companies can include any type of advertising to promote the product and customer could know about it. Here they can also include consumer schemes, â€Å"direct marketing†. All the elements of marketing mix are very important and companies cannot work without any of them because if they do they would not be available to create some good strategies for the product and business could failing. But if they handled on the right way they would be success on business. Target Consumer: â€Å"It is important because different consumers may have differentShow MoreRelatedMarketing Mix : A Marketing Strategy1907 Words   |  8 PagesAccording to the Economic Times, a marketing mix ‘refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.’ (http://economictimes.indiatimes.com/definition/marketing-mix).Define and critically evaluate the key areas of marketing mix that should be included as a part of successful marketing strategy: Use a case study to examine each area in detail. Marketing mix is a tool used by companies to strengthen products brand and help to sell the productRead MoreMarketing Strategy For The Marketing Mix1908 Words   |  8 PagesMarketing strategy for period 11 Name Institution Course Date Table of contents Company overview †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 Identification of goals†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Implication of the marketing mix elements†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...7 Financial projections†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 Executive summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 References†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 Company Overview Allstar Brands medicine group is an organization that has recorded leading sales in over the counterRead MoreMarketing Strategy : The Heart Of Marketing Mix990 Words   |  4 PagesIndividual Assignment (Marketing) Introduction Product strategy lead an integral role in a firm in the area of decision making. According to Kotler (1991), product strategy is the heart of marketing mix. Adopted a suitable product strategy is imperative for a firm as it cause a direct impact on the satisfaction of the customers. The backpack presented focuses on the function for sports consumers’ needs. This report is to figure out the best comprehensive strategy to fulfil consumers’ needs and simultaneouslyRead MoreMarketing Mix Strategy And Analysis1387 Words   |  6 Pagesstores available in all prime location near to all amenities and public can reach their easily. Marketing Mix Strategy Analysis [Introduction] Marketing Plays a vital role in a business, because of marketing the business can offer their offerings and to their customers and provides the services. Marketing is a combination of 4 P’s which are Product, Prize, Place and promotion, to Analysis the marketing of this business, I am explaining the points are given below, which helps to understand the businessRead MoreMaggi Marketing Mix Strategy1618 Words   |  7 Pagesbrand in India in the same product category. This soup was initially test marketed in 1974 in Kerala. The response was not encouraging. Having then realized that the dietary habits of Keralites are not conductive to the idea of drinking soup, test marketing of the brand extended to Goa with the idea that Goan food habits have some similarity with western habits. Fortunately for the company, the test turned out to be positive and Maggi became an accepted brand in India. Maggi has faced lot of hurdlesRead MoreDevelop Marketing Mix Strategy2528 Words   |  11 PagesIntroduction 3 Objectives 3 Methodology 3 Understanding marketing mix and the four Ps 4 Marketing Mix Strategy Using Four P’s 6 Product 6 Product differentiation 7 Feature 7 Ingredients 8 Quality 8 Packaging 9 Price 10 Discount 12 Allowances 12 Payment Period or Credit Terms 12 Place 13 Channels 14 Transport 15 Coverage 15 Promotion 16 Sponsorship 18 Personal Selling 19 Public Relations 19 Internet marketing 19 Sales Promotion 20 Advertising 20 Conclusion 21 Read MorePromotional Strategies : Marketing Mix1228 Words   |  5 PagesPromotional Strategies Promotion is one of the marketing mix elements among a system of five in a promotional plan, known as the five P’s. These elements are personal selling, advertising, sales promotion, direct marketing and publicity. Objectives: †¢ To initiate a strong awareness of the launch of the new product, V8 Plus, throughout the target market. †¢ Extend our existing line of V8 products. †¢ Maintain and increase relationships with current and future retailers. †¢ Preserve the interestRead MoreEvaluation of Kia’s Current Marketing Strategy and Marketing Mix2261 Words   |  10 Pagesenjoyable and memorable Marketing strategy Kia’s marketing strategy is designed to answer two questions; firstly, which customers will need to be served? And how value for customers will be created? The first one will be answered through the process of segmentation and targeting and the second one through the process of differentiation and positioning. Kia uses data from surveys such as NCBS (New Car Buyers Survey) and TGI (the world’s leading provider of marketing and media surveys) to gatherRead MoreSwot Analysis : Marketing Mix Strategy1227 Words   |  5 Pagesrate. (Tootelian et al, 2012 ABS, 2011). Marketing Mix Strategy. The marketing mix is the usual ways of controlling, planning marketing equipment’s that an organisation or a company uses to produce a reasonable and desirable reply from its target market (Gronroos, 1994). The marketing mix strategy comprises of whatever influences demand that a company want to do in order to generate production. It is a very crucial instrument that help in marketing planning systems and performance (Cousins, 1991)Read MoreMarketin Strategy and Marketing Mix of Frooti6088 Words   |  25 PagesINDEX 1.CHAPTER  ± I    * Introduction    *Scope of project    *Objective of project    2. CHAPTER  ± II    * Company profile    *Industry profile    *Beverage preparation section    *Sidel section    *Marketing   strategy    *Marketing Mix    3.CHAPTER  ± III    *Research Methodology    4.CHAPTER  ± IV    *Marketing survey   Ã‚   Data Analysis 5. CHAPTER  ± IV *SWOT Analysis    *Recommendations    *Suggestion    6.CONCLUSION    7.LIMITATION 8.BIBLIOGRAPHY 9.QUESTIONNAIRE [pic] [pic] [pic]