Marketing Mix

1550 Words4 Pages
bulb-icon

Recommended: What is the importance of the marketing mix

Abstract

The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P’s. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. It will also express how each one of the four elements of the marketing mix impacts the expansion of an organization’s marketing strategy and tactics.

Marketing Mix and Why HRworks is Successful Due To It

The Marketing mix is a blend of marketing tools that are used to indulge customers and company goals. Customers frequently call the marketing mix "the offering. “Your offer is managed by the following variables regularly referred to as the four Ps in marketing: Product, Price Place (Distribution) and Promotion. Wikipedia.com defines “Products” as “an item that ideally satisfies a market's want or need.” You might also have a service that they’ll pay for as your product. Having the right product for your target market (that’s the people or businesses you want to sell to) requires knowing what they need and want.

"Place" refers to how you get your product to your customer. Your product might be something that you produce or it could be something you never see or touch. That’s quite possible if you have customers order through you and you arrange to have it directly drop shipped to them from the maker or a fulfillment center. There are a lot of ways to...

... middle of paper ...

...dicated to serving our customers. “

“Our team will consistently be the best in the industry. “

In summary, the Marketing mix is detrimental to the success of any organization. By researching the four Ps of product, price, place, and promotion, an organization can attain even master a thriving marketing operation. Marketing has played a vital role in the success and achievement within HRworks- past, present and future.

References

Defining the Marketing Communications Mix. (2007, June 18). Retrieved June 22, 2007, from California State University: www.csun.edu/~vcmkt005/34prelim/tsld003.htm

HRworks. (2007). Retrieved June 22, 2007, from www.hrworks.com

Marketing Mix. (n.d.). Retrieved June 22, 2007, from Consultantcy Marketing: www.consultancymarketing.co.uk/marketing-mix.htm

Marketing Teacher. (2000). Retrieved June 22, 2007, from www.marketingteacher.com

Show More
Related

  • Yeti Cooler Case Study

    851 Words  | 2 Pages

    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,

    Read More

  • Nt1310 Unit 3 Assignment

    1744 Words  | 4 Pages

    The marketing idea is tied in with accomplishing corporate objectives by meeting and surpassing client needs superior to the opposition. The best approach to do this is for organizations to consider what value they are proposing to offer to their clients and once this choice is made, choose how to impart this message to their clients/commercial center (Fahy and Jobber, 2012). It is viewed as that there are 3 principle components to the marketing communication mix: tools, media and messages (Baines and Fill, 2014). This essay focuses on the diagram and critique of the initial two of these, tools and media.

    Read More

  • Case Study Of Claire's Chocolates

    1199 Words  | 3 Pages

    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).

    Read More

  • Disney Marketing Strategy

    1755 Words  | 4 Pages

    When it comes to marketing in business, there are rules to follow. One of the biggest rules is the four Ps of marketing. The four Ps of marketing are as follows; product, price, place, and promotion. The four Ps are crucial to having a good marketing scheme for a product. The Walt Disney Company have become very good at marketing over the years. Part of the reason for this is their amazing ability to use the four Ps.

    Read More

  • Marketing Mix and Promotional Strategy

    1394 Words  | 3 Pages

    The LEGO Group organization is famous due to its flagship product – colourful plastic bricks that can be interlocked to form a variety of figures, and then disconnected again. These binding bricks originated in a wooden form when the company was first established in Billund, Denmark by Kirk Kristiansen in 1932 (The LEGO Group, 2012), and today’s well known plastic version was introduced in 1958 (Rosenberg). The company’s head office is located in Billund to this day, and The LEGO Group remains privately owned by Kristiansen’s family (The LEGO Group, 2012). They currently sell toys and teaching materials in over 130 countries worldwide.

    Read More

  • Marketing: 'The Concept Of The Marketing Mix'

    1556 Words  | 4 Pages

    Borden, N. H. (1964), "The concept of the marketing mix", Journal of Advertising Research, Vol. 4 No. June, pp. 7-12.

    Read More

  • Marketing Mix - H&R Block

    1480 Words  | 3 Pages

    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.

    Read More

  • Integrated Marketing Communications (IMC) in the UK

    1730 Words  | 4 Pages

    Schultz, D.E., et al., 1994. The new marketing paradigm: integrated marketing communications. NTC Business Books, pp. 105-156.

    Read More

  • Segmentation, Targeting and Positioning in a Marketing Mix

    1385 Words  | 3 Pages

    Segmentation, targeting and positioning are interrelated activities which are important to achieving a successful Marketing Mix. Discuss these concepts in theory and give practical examples of how they can be applied to one industry of your choice

    Read More

  • Bottom Of Pyramid Essay

    986 Words  | 2 Pages

    Other than the 4P’s of Marketing Mix, managers need to understand the 4A’s and 5D’s of BoP Marketing.

    Read More

  • Marketing Process of An Herbal Shampoo

    1390 Words  | 3 Pages

    In order for my product to be successful, I strategize a marketing plan. Market Research is one of the main steps taken in the initial process of strategizing a marketing plan, The primary function of market research is to identify the customers needs and views. During the market research of my product, I discovered that because of the competition, (Herbal Essence Shampoo brand) my product would really need to stand out on the market. Also, during that research I discovered that Herbal Essence?s sales had dropped 6% over the last 2 years, because of their marked up prices. These were great pieces of information, as they will serve helpful during the marketing mix portion of my marketing strategy. The marketing mix is one of the first steps taken in applying an overall marketing strategy for your product. A Marketing Mix is the combination of product offerings used to reach a target market for the organization. (Armstrong & Kotler 2007) The marketing mix includes product, price, promotion and place (also known as distribution)

    Read More

  • Using The 4 Ps To Market Ultimate Fighting

    1277 Words  | 3 Pages

    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.

    Read More

  • Jet Blue Marketing Mix

    714 Words  | 2 Pages

    When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.

    Read More

  • Essay On Marketing Mix

    906 Words  | 2 Pages

    In all reality, all businesses will, in some way shape or form, complete all of the marketing activities, even if completing these activities is not their main goal. (Dlabay 2006.) These marketing activities are product, place, price, and promotion. A business tool called that marketing mix takes all of these activities and puts them together in a way that can be used to help improve a business’s marketing strategy. Product is what the company is selling; Place is where the consumer will obtain this product; Price is what the consumer will pay for the product; Promotion is any type of communication that is intended to remind, inform, or persuade. (Dlabay 2006.) The marketing mix and the four P’s describe very well what business marketing is all about.

    Read More

  • Strategic Planning: The Four Steps In Strategic Management

    734 Words  | 2 Pages

    The four Ps of marketing are product, price, place, and promotion. Product is the physical product or service that the company is selling. 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.

    Read More

More about Marketing Mix

Open Document