What Is The Marketing Mix Of Marketing

Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services (Kotler).

Marketing is one of the most indispensible activities for a business as it can creat positive impact on sales and profitability. Effective marketing begins with a clear, careful, well-informed marketing strategy. A successful marketing strategy helps each company determine its business goals, and outlines the process which business

In order to achieve this goal, the company need a flexible strategy which is capable of adapting to changes in customers’ demand and perceptions. As a result, the business can successfully identify and serve their target market to reach the company desire of profitability and stable development.

3.1.1. Marketing Mix Strategy (4Ps)

The marketing mix is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4Ps is one way – probably the best-known way – of defining the marketing mix and was first expressed in 1960 by E. J. McCarthy. The 4Ps are Product, Place, Price, and

When marketing your product, it important to consider the key features and benefits that customers want or need, including product quality, product pricing, service quality, speed, delivery level and level of innovation. A product is considered to be successful is a product that meets the demand of customers, provides value for money, stimulates their preferences, and helps distinguish the brand of a business from other brands. .

With diversified product strategy, the main drink will be coffee, which is customary drinks, addition to special milk teas, smoothies and other common beverages for elderly customers. Besides the common products, T-box must ensure differentiation criteria on the product in order to entice young customers who prefer novelty. The shop will offer a variety of diverse product types with different prices for all types of customers from low-income to high-income, from workers and students to businessmen, employees. T-Box will hire a professional barista as the shop adviser, who could make new drink