The Marketing Mix

The Marketing Mix

Introduction

Setting the right marketing mix for the product or service means that it including all of the important bases in marketing strategy. The marketing mix is generally established as the use and requirement of the 4P’s which is describing the strategic position of a product in the marketplace. One version of the beginning of the marketing mix starts in 1948 when James Culliton said that a marketing decision should be a result of something related to a methods and he described the marketing manager as a “mixer of ingredients”.

In 1953, Neil H, Borden took that theories in his teaching. The term "marketing mix" became popularized after Borden published his article, The Concept of the Marketing Mix in 1964. Borden's marketing mix which including product planning, pricing, branding, distribution channels, personal selling, advertising, promotions channels, packaging and other factors

Overall that information, a business firm controls four important elements of marketing that it combines in a way that reaches the firm’s target market. These are depended on the Product itself, the Price of the product, the means of the selection for its Place, and the Promotion of the product. When combined, these four elements form a marketing mix (see Figure 2.1).

A firm can contrast its marketing mix by changing any one or more of these elements. Therefore, a firm may use one marketing mix to reach one target market (a group of individuals or organizations which a firm develops and maintains a marketing mix suitable for the specific needs and preference of that group) and different marketing mix to reach another target market. For example, most computer technician produce several different types and models o...

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...nal selling, sales promotion, and public relations are the four major elements in an organization’s promotion mix (see Figure 2.2). Two, three, or four of these ingredients are used in a promotion mix, depending on the type of product and target market involved.

Promotion decisions are those related to communicating and selling to potential consumers. Since these costs can be large in proportion to the product price, a break-even analysis should be performed when making promotion decisions. It is useful to know the value of a customer in order to determine whether additional customers are worth the cost of acquiring them. Here are some examples of promotion decisions made to be included:

 Promotional strategy (push, pull, etc.)

 Advertising

 Personal selling & sales force

 Sales promotions

 Public relations & publicity

 Marketing communications budget