Advantages And Disadvantages Of Marketing Mix

Most shoppers will shop if it is easy, if you shop for that item a lot then you might shop at the same store all the time, However if you see that item on sale at another store and spend a large amount of time looking for that item, then you might not shop at that store again. In this day and time convince is the leading factor for most shoppers. In marketing the goal is to influence a shopper to buy, to know what they want or need so that they will say “yes.” If you can make a shopper feel good about their purchase then they are more likely to buy that item, or to use that service. Researchers are learning the ups and downs of shopping, what makes a person purchases one item and not another. In the retail business, they have spent a lot of money watching and studying the behaviors of shoppers to where they believe they have it down to a science.

What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization.

The process of developing, promoting, and distributing products to satisfy customers' needs and wants. Marketing include 4 Ps for marketing mix that is product, place, price and promotion. Product is the good, which is the company want to manufacture. Place is the place where the company sell the product. Price is the value of goods in the society and promotion show products to customers, e.g.

With customers showing up at their stores to only test the products ' features, best buy as a result, had a loss in their sale. The impact of showrooming has created a challenging task for best buy to keep their sales up and to also keep their customers in the store to purchase their products. First best buy had to better understand their customers’ behavior to come up with the best solution. After a survey was done they found that the main three reasons customers were showrooming was for better online prices, the desire to view the product in person before ordering online and to also buy the product without issues with out of stock retail stores. To complete the task best buy announced that their store was going to match their prices with major online competitors such as Apple and Amazon and retail

Price is what the company is charging its customers for the product. Place is where the company makes the product available to consumers. Promotion is what the company is doing to promote its product to persuade customers to buy it. First off, the four Cs are customer solution, customer cost, convenience, and communication. The four Ps basically describes the same principles as the four Ps but just from the customer’s perspective.

Developing a product, quality, design, features, packaging, customer service should all be considered. Price - This is the amount of money a customer pays in order to purchase the product. Price setting, discounting, credit and cash purchases are things to think about when setting the price. Promotion - Promotion is important because it’s a ways of communicating the benefits and value of the product to the consumers. It’s a way to persuade general consumers to become interested in the business and/or product.

The elements of this 4Ps approach to the marketing are product, price, location, and promotion. These 4Ps are referred to as marketing combination which means that these 4Ps are blended in a marketing program. Product. businesses find out the wants and needs of customers. They attempt to make service or product that

What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization.

Marketing is a form of communication between a seller and a consumer. During this conversation, the main objective of the seller should be to communicate the value of the service or the product that he or she wants to sell, and convince them that they either need or really want this product. Having the appropriate skills to transmit this message to the buyer is the key to a successful marketing carrier. Marketing is made of the four Ps, which are: the identification, selection, and development of the product, the determination of its price, the selection of a distribution channel to reach the consumer’s place, and the development and implementation of a promotional strategy. The basic focus of marketing is thinking about their clients and what are their need and desires.

This assignment is about marketing, where I will produce a marketing strategy for a new or existing product. This unit introduces the major principle and functions of marketing; I will look on customer needs, and creating a suitable strategy or marketing mix, which will satisfy customer needs. In this unit I will experience the marketing process from carrying out initial research about a market, investigating the principles of functions of marketing and the way in which it contributes generating income/profit in a business. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing also involves analyzing customer needs, securing information needed to design and produce goods or services that match buyer expectations, and creating and maintaining relationships with customers and suppliers.