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Marketing Mix - H&R Block

explanatory Essay
1480 words
1480 words
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Marketing Mix - H&R Block Marketing Mix As we all know, marketing is a necessary part of our daily life. Not only are products and services marketed, but we market ourselves as part of everyday business. I spent time this week speaking with a close friend of mind who is a Store Manager for H&R Block discussing the 4-Ps and how they pertain to his organization. It was very interesting to see how different industries market their products and services. Does the thought of receiving your tax return immediately grasp your attention? Well it has definitely helped H&R Block in boosting their ability to attract customers. It seems as thought immediate gratification is a promotion marketing tool that many companies are now using. After briefly describing the 4 – P's of marketing we will review how H&R Block utilizes all of the steps in their marketing mix. Definitions Product is/are the products or services you offer and are they unique and different, superior in quality and easier to use. In my own opinion, the product or service is one the most important aspects of a successful business. If you have an item that the customer really wants they will drive out of their way to purchase it. They are usually willing to pay a higher price if the quality justifies it. When a local popular hamburger place open up in Phoenix, people drove long distances and sat in long lines just to bite into one of their juicy hamburgers. If you were to drive by and see the long line you would have thought they were giving something away for free. Price is how much to sell your products for. This is based on your cost and product value to potential customers. I believe that price is important and you will definitely attract customers with the lure of cheap prices, especially at Christmas time. How many people just recently woke up at 4 a.m. just to get in line for several hours so they could get a great deal and save a few dollars? I believe that it works to motivate certain customers, but there are still consumers out there who are not interested getting stampeded during a price reduction sale. Promotion is advertising to potential customers in and effort to create an awareness of your business. It is reasonable to believe that without the ability to advertise a company would have a difficult time generating new customers.

In this essay, the author

  • Explains that marketing is a necessary part of our daily life. h&r block's store manager discussed the 4-ps and how they pertain to his organization.
  • Describes how h&r block began on main street in kansas city, missouri in the early 1950's as a bookkeeping service for small businesses. in 1954, the irs stopped the practice of completing individual taxes for citizens.
  • Explains that h&r block has more than eleven thousand offices in the united states, with over one-hundred thousand full and part-time trained associates.
  • Explains that h&r block is comparable to, if not lower priced than most competitors in the metro phoenix area. their pricing is low enough that the average american can afford to take advantage of their services.
  • Opines that the product or service is one of the most important aspects of a successful business.
  • Describes how h&r block transformed the way taxes were transmitted to the irs in 1986 by piloting a program that electronically checked for errors and submitted returns in record time.
  • Explains that h&r block offers a few different promotions, ranging from referral bonuses to giveaways.
  • Explains that the marketing mix is the most notorious phrase in marketing. it consists of a set of major decision areas that companies need to manage to at least satisfy consumer needs.
  • Explains that h&r block double your refund sweepstakes rules are available at http://www.hrblock.com/faq.html#qa_4.
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