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Salient Features Of Marketing Mix

Good Essays
Unit 2- Marketing Essentials ( Assessment 2)

Introduction:
In the following research paper, the salient features of marketing mix are discussed along with elaborating the ways in which it can be applied in an organizational context. The aim of this study is to develop an understanding of how business objectives are realized through efficient implementation of marketing mix. Perhaps one of the most important terms in contemporary marketing, the marketing mix is regarded as an operational or tactical part of the overall marketing plan. There are a total of 7Ps in the marketing mix namely product, price, promotion, place, people, processes and physical evidence (Ramachandra, Chandrashekara and Shivakumar, 2010). Furthermore, this study also
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Businesses are able to attain effective positions in market through the effective implementation of marketing mix (Kotler, 2000). Contemporary research states that the marketing tactics of an organization reaches its optimal level upon the application of marketing mix, which consequently improves the probability of achieving organizational objectives. Marketing mix is a combination of various elements discussed above, which, if used correctly, can have everlasting positive impact on an organization’s overall objectives. The following discussion sheds light on how marketing mix helps achieve organizational…show more content…
The process flow is optimized in such a way that personnel are directed towards various activities ensuring that there is no lapse either in production process, service efficiency that ultimately leads to customer satisfaction. Satisfied customers are highly important for business profitability and growth. Since this element of marketing mix ensures effectiveness of processes, therefore, customers remain highly satisfied resulting in brand loyalty and enhanced brand reputation.
g) Physical Evidence:
Physical evidence is considered as the environment, in which customer and business interact and also results in the delivery of a service (Groucutt, 2005). In essence, physical evidence is an element of the marketing mix related to services sector since customers look for material cues when hiring the services of an organization. It starts with the location of a business, followed by different equipment, annual accounts, business reports and signs among
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