The 4 P s Of The Marketing Mix - 1849 Words

The 4 P’s of the Marketing Mix The Marketing Mix refers to the controllable parts of the marketing process that can be used to influence a consumer to buy. It also helps a brand to establish a name and distinguish itself from competitors. Marketing is often thought to be just a method of selling or advertising. This idea traces back to the early days of advertising when the primary goal of a marketing campaign was to help a seller sell more product. This is no longer the case in the modern world. While marketing is still used to drive and increase sales, the primary focus has shifted to creating a seamless buying process which helps the buyer buy more efficiently. We live in an information age and buyers want to make informed decisions about everything they purchase. The rise of ecommerce means buyers are no longer limited to 2-3 companies offering a product, they can now choose between thousands of retailers. Buyers demand excellent quality products, and they want them for the cheapest available price. Marketing has responded to this change in demands by evolving into a complex blend of communication and creativity that supports the mutually beneficial exchange of goods or services between interested parties. When we begin to analyze marketing, we can see that is an art which requires a skilled professional at the helm of the campaign. The 4P’s of marketing, an idea introduced in 1964 by Jerome McCarthy, can be used as method of increasing business profitability. In fact,Show MoreRelatedCritical Discourse Analysis of Language Advertisements1553 Words   |  7 PagesKotler 4P’s of marketing Faculty of Business and Management University of Balamand January, 2011 Copyright  © 2011 All Rights Reserved Acknowledgement Thank you Dr. Fadila for your continuous support and the perseverance, tolerance that you have provided us throughout the semester. Table of Contents Acknowledgement ii Table of Contents iii Chapter 1 1 Introduction 1 Chapter 2 4 Body 4 Chapter 3 7 Model Application 7 Chapter 4 9 Conclusion 9 List of References:Read MoreMarketing on Ford Fiesta1529 Words   |  7 PagesFOM Study Programme Master of Business Administration (MBA) Module: Marketing Assignment: 1/2 Author: Christian Gondek 1st Academic Semester 2010/2011 Essen, 21.01.2011 Executive Summary - Part I The Ford Motor Company (FMC) is one of the biggest and most successful automotive manufacturers in the world based on a long tradition of automotive development. Since 1931, the plant in Cologne has produced more than forty million vehicles. The focus of this assignment is to analyse the latestRead MoreProdut P Is Most Important in Marketing Mix1186 Words   |  5 PagesTHE PRODUCT ‘P’ IS ALWAYS THE SINGLE MOST IMPORTANT ELEMENT IN THE MARKETING MIX Definition of Marketing Mix According to  Philip Kotler  -  Marketing Mix  is the combination of four elements, called the 4Ps (product, Price, Promotion, and Place), that every company has the option of adding, subtracting, or modifying in order to create a desired marketing strategy Marketing Mix was first coined by Neil Bordon, the President of the American Marketing Association in 1953 and is referred to asRead MoreThe Coca-Cola Marketing Mix1127 Words   |  5 PagesCOCA-COLA MARKETING MIX The Coca-Cola Marketing Mix 1 2 THE COCA-COLA MARKETING MIX Abstract The marketing mix is known as the 4 P’s or the product, price, place and promotion of Marketing. It is a marketing strategy that company’s use to estimate the value and determine the methods of advertising and distributing its products. Coca-Cola has been long admired for its approach to marketing. Over its 127 year history, Coca-Cola’s efforts to refine and perfect its marketing mix has allowedRead MoreThe Marketing Mix Of Borden1483 Words   |  6 PagesThe marketing mix was claimed to be introduced by Borden (1965) by himself and was suggested to him by Culliton (1948) as he described the action of a business decision-making as â€Å"mixer of ingredient†. The marketing mix is known to be a business tool to most, which needs to be taken under consideration in order for the business to be successful. The marketing mix was first originated from the single P, which was â€Å"Price† from the microeconomics theory (Chong 2003). Due to competiveness, new P’s wereRead MoreProfile the Market1023 Words   |  5 Pagesindustry. I chose McDonald s as it is primary operator in this market and holds the highest market share. I chose Hungry Jack s as the product they offer is similar to McDonald s and I thought it would be interesting to compare marketing strategies of two organisations which offer a fairly similar product. Table Of Contents Market Position 3 Target Markets 3 Marketing Mix 4 Product 4 Price 4 Promotion 4 Place 4 People 5 ProcessRead MoreStrategic Marketing1052 Words   |  5 PagesSTRATEGIC MARKETING PROCESS Strategic Marketing Process Strategic Marketing Process In order for an organization to reach its target markets, it must use the strategic marketing process to allocate its marketing mix resources. The marketing mix is elements, such as price, product, place, and promotion (also known as the 4 â€Å"P†Ã¢â‚¬â„¢s) used in the make up the marketing process (Bayne Hardin, 2002). It is important for an organization to have a good understanding of the marketing mix. Each elementRead MoreAmway India Marketing Mix836 Words   |  4 PagesQUE.- Suggest a Marketing Mix for Amway with specific reference to Product P of the 4 Ps. You will have to justify your ansAmwayr with market based facts in which Amway is operating in India. ANS. – Amway Working in India as†¦ Amway promotes individual entrepreneurship through its innovative direct selling approach of world class consumer products. Amway India is the country’s leading direct selling FMCG-company which manufactures and sells world-class consumer productsRead MoreMajor Pricing Strategies1486 Words   |  6 Pageschapter 10, the authors answer the question of What is a price?, discuss the importance of pricing in today s fast-changing environment, identify three major pricing strategies, point out the importance of understanding customer-value perceptions, company cost, and competitor strategies when setting prices, and define the other important internal and external factors affecting a firm s pricing decisions. The authors remind us of that No matter what the state of the economy, companies shouldRead MoreMarketing Mix Paper1670 Words   |  7 PagesMarketing decisions generally fall into four categories; product, price, place and promotion. These categories together, are known as the marketing mix, or the 4 P s of marketing. Subject to the internal and external constraints of the marketing society, the marketing mix gives marketing managers controllable parameters to make decisions that are centered on customers in the target market. The ultimate goal of the marketing mix is to create value and generate a positive response for any organzition