Essay PreviewMore ↓
The purpose of this paper is to explain the four elements of marketing mix which are: product, place, price, and promotion. I will also implement each element with the company’s marketing strategies. The organization which I will be using is Sandy’s Day Care. In my organization I had child care services for ages from new born to eleven years old. Hours of operation ranged from 5:30 am to 6:00 pm. Monday thou Friday and Saturday’s only upon request. I will explain the marketing strategies that were applied in my home business which succeeded for over five years, with an income of six thousand dollars a month.
Marketing Mix Paper
The first strategy is product is developing the right good or service for the company’s customers, including package arrangement, trade name, and contract with educational backing. The service proved is quality child care with an experiences provider and an extended educational back ground in early childhood. The day care will provide two healthy meals a day and two snacks at no extra charge. That are recommended and approved by the department the health and nutrition. The day care also provided preschool education based on class room setting. The children were also provided with field trip or day outing’s at least twice a month. Other activities are available such as swimming and dance but only at parent’s expense. After school program are available, with homework assists and a snack. All service provides are clear stated in the day care package for customers to review, this include contracts, rules and any forms that are need to be eligible the program.
The second strategy is place which is very important due to location. My day care was off the freeway and on the way to downtown San Diego and the 32 second Naval Base. The Naval base was a vital part of my business due to the fact that all my customers were in the Navy. My location was only 15 minutes from the base and downtown. My day care was at my home; therefore it was very clean and had a warm homely atmosphere for the children. I had a large back yard with plenty of toys and things for the children to do. All the meals were home cooked and very healthy.
Price being the third strategy was based on whether it was full-time or part time day care. Full-time back then was $70.
How to Cite this Page
"Marketing Mix For Home Business." 123HelpMe.com. 18 Jan 2020
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Marketing Mix Paper What are the elements of the marketing mix. There are four elements, which are product, place, price, and promotion. Organizations use these four elements of the marketing mix to make a profit on the product or service that they offer. The following will discuss the four p’s of marketing, and describe how each one of the four elements of the marketing mix impacts the development of a specific organizations marketing strategy and tactics. Four Elements of the Marketing Mix To begin, the first p in the marketing mix stands for product.... [tags: Marketing Mix Economic Theory Paper]
827 words (2.4 pages)
- Introduction At Samsung our mission statement is “inspire the world, create the future” (Samsung). So Samsung is coming out with a new product called the RobotMop. This product is an extension of our robot vacuum line. We will be determining our external market environment, competitors, customers, and SWOT of Samsung. We will also be determining the organization 's Marketing Mix and its Target market such as: Product plan, Place or Distribution Plan, Promotion Plan, and Pricing Plan. This marketing plan will help ensure the success of the innovated product, RobotMop.... [tags: Marketing, Generation Y, Strategic management]
1623 words (4.6 pages)
- Marketing decisions generally fall into four categories; product, price, place and promotion. These categories together, are known as the marketing mix, or the 4 P's of marketing. Subject to the internal and external constraints of the marketing society, the marketing mix gives marketing managers controllable parameters to make decisions that are centered on customers in the target market. The ultimate goal of the marketing mix is to create value and generate a positive response for any organzition.... [tags: Business Marketing]
1561 words (4.5 pages)
- 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.... [tags: Business Marketing]
1550 words (4.4 pages)
- Marketing Mix The "Marketing Mix" is a term used to describe the combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to the customer. It is also known as the 4 P's Product, Price, Promotion, and Place. The marketing mix is also known as the '7 P's', when you add people, process, and physical evidence to the first four. The importance of the marketing mix is for businesses to make sure they are marketing- o The right product to o The right person at o The right price in o The right place and at o The right time (The Chartered Institute of Marketing,2004) The mix of the 4 P's, must reflect the wants and desires of the con... [tags: Business Marketing]
1654 words (4.7 pages)
- Marketing Mix Abstract A Marketing Mix is a combination of product, packaging, price, channels of distribution, advertising, promotion, and personal selling to get the product in the hands of the customer. Throughout this paper we will be discussing the 4 P's of Marketing and provide examples of Marketing Mix. (Kyle, Bobette). Marketing Mix The Marketing Mix is based on the fact that price is not the only factor that decides whether customers will buy from you or not. In fact, in some cases people never buy the cheapest.... [tags: Market Marketing Business]
1933 words (5.5 pages)
- FedEx Marketing Mix Federal Express is an express transportation company, founded in 1973 by Frederick W. Smith. During his college years, he recognized that the United States was becoming a service-oriented economy and needed a reliable, overnight delivery service company designed to solely transport packages and documents. He wrote a Yale term paper on this idea and received a C. His professor thought it would never work. Fortunately for Frederick Smith, he did not take it to heart and ended up building that company he dreamed of.... [tags: Business Management Marketing]
741 words (2.1 pages)
- The term marketing mix is defined as a set of marketing tools that the firm uses to pursue its marketing objectives in the target market. The marketing mix is an essential part of the formulation of a firm’s marketing strategy. It is important for an organization to have a good understanding of the marketing mix. Each element is important when developing a marketing plan. Traditionally, the marketing mix consisted of four broad categories of variables known as the 4 P’s: product, place, price and promotion.... [tags: Business Marketing]
1249 words (3.6 pages)
- The Marketing Mix Description of the Marketing Mix: Marketing is the way in which a business promotes its products or service. Marketing is not solely selling the product; it is concerned with identifying customers and satisfying their needs/wants at a profit. Businesses have to sell what they produce/serve. To do this, marketing decisions must be made, which involve: PRODUCT - what products will be sold. PRICE - what price those products will be sold at. PLACE - where the best place to sell the product/service will be.... [tags: Papers]
1305 words (3.7 pages)
- Marketing Mix for Manchester United Product: A massive sports store selling Manchester united. Introduction Marketing Strategic marketing: defined by Stevens, Loudon, Wrenn, and Warren (1997). ‘Consisting of the complete plan for the accomplishments of the organisation’s mission statements and stated objectives’ And by Hiebing and Cooper (1995) ‘Marketing strategy is a statement detailing how an individual marketing objective will be achieved, and describes the method for accomplishing the objective’ Whereas market strategies are a system designed to help make the decisions that will create a fit between your organisations goals and resources and changing market opportunities’ (Gray 199... [tags: Business Management Studies]
3413 words (9.8 pages)
Marketing Mix 4
Marketing Mix Paper
dollars a week. Meals were paid by the state of California nutrition program, which included breakfast, lunch and two snacks per day. My late fee‘s were $10.00 for every 15 minutes late. My prices were very low comparing to the rest of the day cares in San Diego due to the fact I did very little marketing because my customer were my source of marketing. I always had a waiting list for my day care.
Howe ever, promotion being the four strategies was important for exposure and tax purposes. My promotion resource was my husband because he was in the Navy and was in charge of over 50 men in his department on the ship and of course they all had children. I used the base and the local newspaper to advertise my day care twice a year. But my greatest help was when my day care came out in the Navy Times which was ranked one of the best home day care in San Diego, after that I had a waiting list.
Sandy’s Day Care, was a profit organization that proved a vital service to the military committee and their families. The day care was affordable, excellent location, and highly recommended. The four marketing strategies that I used in my day care which were product, place, pricing and promotion had a vital impact in the success of my business. Each strategy enabled my business to strengthen and succeed for a long time. This also enabled my day care to stay open and functioning at a very successful profit for more than five years. The reason I close d my day care was because my husband retired from the Navy and we chose to relocate back home.
Marketing Mix 4
Marketing Mix Paper
Louis E. Boone. Contemporary Marketing. (1999). pp.23 htt://www.stephenkramer.com/Elements%20of Marketing.htm
Sean M. Lyden. Home Based Business. (1998).