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The concept of'marketing mix' and its elements
The concept of'marketing mix' and its elements
Marketing mix aspect
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There are four key factors in the marketing mix, which includes product, place, promotion and price (Worth). Product, which includes tangible and intangible qualities, is the simplest factor and plays a fundamental role in the marketing mix. Secondly, place, is also a significant variable in the marketing mix because the convenience of the location decides the popularity of the product. Thirdly, promotion influences the visibility of the product. Through advertisements, brochures, and other efforts, promotion helps to raise the public’s awareness on the product. Finally, the price is the most straightforward factor in the marketing mix, which directly relevant to the exchange in the market place. The cost-oriented pricing is the mostly common …show more content…
According to the research conducted with 29 focus groups in six countries, the unaided awareness of CARE was only 2%. Although CARE greatly contributed to fighting with global poverty and the aided awareness of CARE was 65%, the result shows the low awareness comparing with other organization like the Red Cross. Lacking of typical events and a well-known brand, the reposition of the CARE is necessary and …show more content…
On the one hand, Gayle’s strategies seem to find a focus and concentration for the CARE because fighting against global poverty could be too broad and too ambiguous. Moreover, Gayle’s strategic plan seems very comprehensive and ambitious to lead the CARE to become a global organization. However, on the other hand, as they decided to focus on women and girls, people may question what about men and boys, which might result in a gender discrimination issue for the organization. In addition, although the organization is growing, it should not forget its initial intention, which is the direct mailing campaign. Finally, Gayle should be really cautious if she wants to further develop the organization. As the brand and reputation is so fragile, too much ambition might have adverse
Kotler and Keller (2014) develop on what product represents in the marketing mix, as the idea centers around its design, quality and packaging. Continuing with the Four P model, price should be considered when marketing a product. The price component asks one to determine the list price, discounts, allowances, and payment period of a product (Kotler & Keller, 2014). Finally, Kotler and Keller (2014) list promotion and place as the final two variables associated with the older Four Ps. Promotion deals with how a product is advertised and what type of sales force will be utilized, while place is associated with the channels and locations for which your product will be featured (Kotler & Keller,
According to Shams Charania of The Vertical, the Philadelphia 76ers will sign point guard Chasson Randle to a 10-day contract. The former Stanford University guard had been playing in the D-League for the Westchester Knicks.
The 4 Ps of the marketing mix are: Product, Promotion, Price, and Place. The marketing mix puts the right products, at the right price point, in the right place, at the right time. The following examines how Claire’s Chocolates optimizes its marketing mix (Yoo, Donthu, & Lee, 2000, 195-196).
She also highlights the driving forces such as money and profit oriented market, pointing to the demands of increasingly sophisticated medical technology by the very few with the " most buying power. This need stems from an important to human rights and reflecting the Christian teachings principle of autonomy. As she recognizes it as an important in the recognition of human value principle, she does not want it to be the only one to be valued. She speaks of the importance of affecting our and the world 's policies allowing the preferential option for the poor and fulfilling our Christian obligations to love our neighbor. She also speaks of the common good such as health care, and its just distribution. Taking care of the poor, and the just distribution of the common good are the principles that should be valued. After all, as Mahatma Gandhi once said; "The greatness of a nation is measured by how it cares for its most vulnerable
The one of main factors is that costumers are swayed by product itself. Where are we buying it? What is the trademark of the product? How much is it? What is the product’s appearance? How about product’s use? And, does the product have a good quality? All of these questions will appear in our mind when we are making decisions. Thus, every consumer will accord to analysis by synthesis product itself, and focus on the product that he or she most favorite. The ways of vendition and the environment of vendition impact the buying behaviors of the customers. The seller makes an attempt to choose the right way and sell the products in the right environment. Consumers will select a safe channel, and according to legal order trade with the marketer. So, having a good channel and place is very important. Usually, a well-known trademark can attract customers to buy the product, because of its influence, history, or another factors. In
In conclusion, Jean Watson’s theory of caring, a middle-range theory, provides essential framework and guidelines in nursing shortage problem. Nurses who exposed to caring theory have moral and ethical obligations to care for others during challenging situations. Patients, families and other professionals depend on nursing profession, their expertise and knowledge for best patient
When concern about the poor, developing countries situation, the above Red Cross programs can be applied in different ways through their country Red Cross organisations. Especially they can add more counselling services for homeless people who are suffering from mental issues, and counselling for family violence and set up more pre pregnancy counselling or health programs. Moreover, solidarity can be identified as another recommendation. Solidarity starts as an internal thought and then it has completely taken root within an individual, states itself over various activities that prove an individual’s obligation to the happiness of other people (Massaro 2000).
Defining the product strategy and pricing are the most critical activities for every company. These activities include the creation of such a product that meets the needs and desires of specific groups of customers. In order to satisfy customers' needs, it is crucial to identify optimal combination of marketing mix elements. In succeeding that, managers have to find the answer to the questions like: What product's characteristics are relevant for the customers? Is there a need for designing variety of same products? How to differentiate a product? What price the customers are willing to pay for a given product? The answers to these questions are particularly important if we bear in mind that in today's business environment it is necessary to make it attractive to a particular target market, which means to distinguish a product or offering from the similar ones. Product differentiation is the process of distinguishing a product both from the offering of competitors and firm’s own product offering. These differences may lead to competitive advantage if customers perceive the difference and have a preference for the difference. It is therefore necessary to elicit the preferences of customers prior to product differentiation.
Overall accomplishment of any worldwide affiliation requires more than the ability to offer right things and organizations in a benefit markets. a strange condition of social care and intercultural capacity and flawless
An organization must use a strategic marketing process to distribute its marketing mix resources to reach its target markets. The elements of a proper marketing mix are price, product, place, and promotion. They are the four P’s of the marketing process (Goi, 2009)
There are many factors that affect and influence marketing decisions. “It can be said that the economy is the heartbeat of a country as it affects every consumer and business” (Cant and van Heerden, 2013: 42). Inflation, interest rates, unemployment, consumer income , exchange rates , monetary policy etc , all play major roles in our economy.
The book investigates what good care is. The writer is looking for an alternative for the popular belief that the people need a free choice to let them lead a good life. In four years the writer collected all material for the book by fieldwork in the health care. The material is based on interviews with nurses, internists and patients with diabetes. The writer observed how the daily practice of diabetes works. Dialogues and gestures are detected. All these experiences were translated into the writers words. The writer wrote especially for the patient movement. In addition she wrote for people working in the health care, who have difficulty with the logic of choice. Furthermore, the writer tries to make place for stories in the political dialog by using the logic of care.
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
A very important factor in the marketing mix is the price. Since a service is not physical, its value must be carefully thought out. The price is sometimes the first thing which tourists look at. Depending on the type of service, perceptions of value differ. The price can act as an indicator of quality. A low price may seem as an attempt to cheat the customer in some way. People expect quality to cost and are willing to pay a higher price for it. That is why the service provider must be aware of how much people would pay for his service and why.
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.