Marketing Mix
What is the marketing mix? Professor Jerome McCarthy coined this term which breaks down into four separate parts: product, price, place, and promotion, better known as the four P’s of marketing. Some experts feel this early 60’s mentality is a little archaic and should reflect societies other factors. Today’s marketers feel there are two important P’s that have been overlooked, or intentionally ignored, and they are politics and public opinion.
The first P in the marketing mix is product. A product is any physical good, service or idea that satisfies a want or need. Because the term “product” is somewhat vast in its definition, marketers dissect the meaning into a smaller unit known as a commodity. A commodity is a product with subtle differences. These differences can range from physical to geographical. Kotler uses the example of DuPont dacron, nylon, and orlon, “DuPont deserves credit for creating brilliant new fibers displaying different properties. In each case it gives them memorable names.”
The next ingredient in the marketing mix is price. The price of a product depends on several factors including, but not excluded to, the product being offered, competitors pricing on a like item and the demand for the product. Companies use a variety of techniques to reach the most competitive price for their product. One example of this would be cost-based pricing. Cost-based pricing is simply adding a markup to the cost of the item. On the other hand, a ...
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,
While both Oedipus Rex and Death of a Salesman can be described as tragedies, Willy Loman is not an example of a traditional tragic hero like Oedipus. To be labeled as a tragic hero, the character must experience an anagnorisis, a peripeteia, and must have hubris and a hamartia. Oedipus has all of these qualities, which is what makes him a prime example of tragedy. Oedipus’ tragic flaw, his discovery of what he has done, and his consequential destruction because of his discovery are all necessary to be termed a hero of tragedy. Although Willy Loman has a tragic flaw that is even comparable to Oedipus’ in that it results in his blindness from reality, he, however, does not experience a revelation as to why his demise is inevitable. Without such an experience, Willy is not a hero of tragedy.
Aristotle defined anagnorisis as being “a change from ignorance to knowledge, producing love or hate between the persons destined by the poet for good or bad fortune.” Through their respective plays, both Oedipus and Willy Loman had experienced a period of reversal in fate; only Oedipus truly recognized his faults. Anagnorisis...
Athletes in society are constantly in the media and are looked up to by the youth and fans alike. When athletes make bad decisions the issues are blown up for all to see. A role model is a person whose behavior can be emulated by others and especially younger people. Young kids look up to athletes more than anyone else and try to be just like them, wishing to follow in their footsteps when growing up. Not all athletes embrace being a role model in today’s society, even though the youth and many others follow their every move. Several professional athletes have gone from being role models to making bad decisions that often jeopardize their careers.
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).
What is a Role Model? A role model is someone that inspires you and someone that you are interested in learning more about. According to Studymode.com, Ray Lewis was born May 15, 1975 and is a linebacker who has played for the Baltimore Ravens of the NFL since 1996. Lewis has been selected to eleven Pro Bowls and been named an Associated Press All-Pro nine times. He won the NFL Defensive Player of the Year in 2000 and 2003; he was the sixth player to win the award multiple times. He was also the second linebacker to win the Super Bowl Most Valuable Player Award and the first linebacker to win the award on the winning Super Bowl team. Ray Lewis is a great NFL defensive man and has broken records throughout the history of NFL. Not once did he not give up or not try hard enough. He always tried and played at his best. Being the man that he is, he may have inspired men and young boys around the country to push themselves through each and every practice despite the pain they may have experienced the next day just to continue in the sport that they know and love.
Naturally, sometimes people just want to leave the house and go somewhere. A new or seasoned couple might be looking for place to get together. Like an instinct, as a result of frequent movie advertisements, the movie theater is one place that comes to mind. It offers a unique experience that starts with the massive and imposing screen that occupies the theater room where all seats are faced forward. The screen and front-faced seats, coupled with the absence of light, are the first things movie-goers notice when they enter the room. This commends all attention to the giant screen, and the already found sense that something new and exciting is about to appear, grows stronger. Eventually, the seats are filled, phones are turned off, chatting stops and the lights are dimmed; as the stream of new and exciting previews begins. From then on, all ...
This analysis of Oedipus’s character shows how Oedipus, the protagonist and the antagonist against himself, dealt with unfortunate situations which sealed his fate. Oedipus was a strange round character that was really interesting and mysterious. Oedipus’s life was a good example of a true Greek tragedy; he worked himself up to be a great king and ultimately in the end he died with only his perception on life. Oedipus was once a man of power who falls impoverished. He goes from having much respect in his great position to being impure, blind, and expelled from the land that he once ruled.
Aristotle’s description of a tragic hero exemplify Willy Loman and Oedipus Rex very well in both their respected plays. They struggle to make the right judgment (hamartia), and with certain flaws throughout their plays, make it hard for these characters to realize the truth (anagnorisis). However, through certain evidence and different obstacles Oedipus and Willy’s demise is caused by their hamartia. Although these characters experience hope along the way, their pride and egotistical lifestyles outweigh the hope that they receive to get their life back on track.
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.
When creating a marketing mix for a product, the company needs to look at the 4Ps: product, place, price and promotion (Eugene McCarthy, 1960). “When considering the 4 P’s of the GoPro, it is clear that the company’s success has been due in large to such great marketing.” (Suki Chan, 2013)[1].
The impact of nuclear power on the modern world has improved Various sectors of the economy and society .i.e. Food and Agriculture, Insect control, Food Preservation, Water Resources, Military, Medicine, Research and Industry. “In 1911 George de Hevesy conducted the first application of a radioisotope. At the time de Hevesy was a young Hungarian student working in Manchester with naturally radioactive materials. Not having much money he lived in modest accommodation and took his meals with his landlady. He began to suspect that some of the meals that appeared regularly might be made from leftovers from the preceding days or even weeks, but he could never be sure. To try and confirm his suspicions de Hevesy put a small amount of radioactive material into the remains of a meal. Several days later when the same dish was served again he used a simple radiation detection instrument - a gold leaf electroscope - to check if the food was radioactive. It was, and de Hevesy's suspicions were confirmed.
As atomic power is increasingly recognized as a potential energy source to sustain future human development, radiological protection of the environment will become an even more important environmental safety concern (ICRP 2003). In the past decades, scientific and regulatory activities related to radiation protection has been focused on the radiation exposure on humans. The prevailing view has been shown that, if humans were adequately protecte...
In Rereading Americas Chapter Harmony at Home: The Myth of the Modern Family, the ideas of both past and present meanings of what a family truly is, are brought to light with some staggering statistics. “Among Millennials those born after 1980- only 30% say having a successful marriage is “one of the most important things in life””. An in depth look at this statistic raises questions about the mindset of this new generation and the role of marriage in the development of future generations. Today’s modern view of traditional marriage is one that most affiliate with in a new, constantly changing society, an almost ancient idea from 1950’s American homes. Gender roles have also changed as women become more relevant in today’s work force making an extreme impact on the consecrated relationship of marriage. This inevitably changes parenting and the way children are raised.
A marketing mix is what businesses use to detail the main functions of business marketing and do into further explanation as of how those functions influence the success or failure of a business. There are several different marketing mix tools, the four P’s is a very useful tool explaining the main functions of a marketing mix. A basic way of describing the marketing mix is the four P’s: Product,Place, Price, Promotion. A very important part of understanding how to use this tool is asking yourself questions that will help you understand each individual part of the marketing mix. Many people use this process to check their existing business to see if there are improvements to be made. The four P’s marketing mix system could also be used before starting a new business or offering a new product to give yourself guidelines on how to run your new business.