Markiting

In: Business and Management

Submitted By lulela
Words 2008
Pages 9
It is a framework which helps to structure the approach to each market.

The mix is a bundle of variables which are offered to the customer. These include the product or service itself (its advantages); its availability (the place where and when it is available, delivered or distributed); its image (the way it is promoted) and, of course, the price which should be charged.

These are some of the ingredients which a marketing manager must mix together when optimising a limited amount of resources.

What is the best mix? A marketing manager has to juggle resources and decide on the best marketing mix. Should money be spent or forfeited on: reduced prices? Improved products? New delivery trucks? Or maybe invest all your money in a high risk TV advertising campaign?

Did you recognise the 4 Ps just there? In 1960 Jerome McCarthey presented the 4 Ps to the world. Since then marketing managers around the world have become familiar with them. Can you recall them?

In addition to the 4 Ps, there are other approaches to the mix. These are explored under 'Different Approaches' subtopic as shown in the title map.

Let's look at each of the 4 Ps briefly.

Product - this means the product's (or service's) quality, the functions, the features and benefits of its design plus packaging, guarantees and level of after-sales service. Choices can be made about any of these aspects.

Price includes recommended prices to end-user customers, distributor's trade prices, cash discounts, bulk discounts, terms of credit.

Place means where and when the customer buys and consumes the product or service. Place is sometimes referred to as the marketing channels, physical distribution, logistics or location.

Promotion means the promotions mix or the communications mix. This mix includes advertising, sales promotions, publicity, direct mail, exhibitions, display, packaging,…...

Similar Documents

Business Environment

...| Business Environment | MARKETING | | Jacob Braziel | 8/12/2012 | | MARKITING MIX Abstract Starting a business is not as easy as it looks. It can be complex and pressing difficult time. It takes persistence and diligence, and a lot of money will change hands. They will be a big job trying to find investors who will be able to put a lump sum of money into the sociality. But the one thing that is good about the whole thing and that is that there is money out there and it is the right time to get it. At this time the market prices are low so that drop the prices for material. It will take persistence and consistency on your part to get into the business world. At this time people are getting the knowledge and the skills to do just that, Support program for business and other organization has the money to get you started. Michigan Economic Development compaction (MED) and the government in general are funding the lesser stable people. Now this comes from a small business that is just making it. So it’s good news for him, and to all. When you enter into the world of business the risk will be there. That is the first concerns that you will have, then how to supply our company. What come to my mind is offshore. Their dollars are low enough to afford. That way you kill two birds with one stone. You got your product for almost nothing. The information that an investor gets the more that they will want to finance you. For example: The......

Words: 716 - Pages: 3

Benefit Segmentation

...each representing a potentially productive focal point for marketing efforts. Each segment is identified by the benefits it is seeking. However, it is the total configuration of the benefits sought that differentiates one segment from another, rather than the fact that one segment is seeking one particular benefit and another a quite different benefit. Individual benefits are likely to have appeal for several segments. In fact, the research that has been done thus far suggests that most people would like as many benefits as possible. However, the relative importance they attach to individual benefits can differ importantly and, accordingly, can be used as an effective lever in segmenting markets. Of course, it is possible to determine MARKITING MANAGEMENT benefit segments intuitively as well as with computers and sophisticated research methods. The kinds of brilliant insights that produced the Mustang and the first 100-millimeter cigarette have a good chance of succeeding whenever marketers are able to tap an existing benefit segment. However, intuition can be very expensive when it is mistaken. Marketing history is replete with examples of products someone felt could not miss. Over the longer term, systematic benefit segmentation research is likely to have a higher proportion of successes. Wide Range of Applications But is benefit segmentation practical? And is it truly operational? The answer is yes. In effect, the crux of the problem of choosing the best......

Words: 3551 - Pages: 15

Markiting

...Food is a basic necessity. The industry which deals with preparing food items/products refers to the food service industry. The food service industry is and will always remain in high demand because of its genre. These industries include restaurants, fast foods, school and hospital cafeterias, catering operations, food carts and food trucks etc. Restaurants and fast foods mainly contribute to the food service industry. Like every other country, the food industry has flourished very well in Philippines. Filipinos love to eat and that’s the reason why you will see a lot of restaurants and fast foods restaurants scattered in the cities. These restaurants and fast foods can be local or international food chains. Filipino food and chefs are considered one of the best in the world. Attracting a huge crowd to restaurants or fast foods require more than just good food. Though important, good food is only a part of the total dining experience. Equally important is believed to be the way people feel while in the restaurant. This physical and emotional response is a result of the atmosphere, the total environment to which customers are exposed. The proper atmosphere can make the food, service and whole dining experience seem better. For that reason a restaurant or a fast food must take care of the following to please its customers. This includes checking the cleanliness of the place and freshness of the food, guarded premises, parking area where people can park, ambiance and......

Words: 252 - Pages: 2

Retgr Afdg

...carbon emtions. Finally by applying the marketing mx analsis- 4 P’s we find the folloeing: Products: cheap fares and no frills air travel to certain detenations, such as Eroupe . giving dscounts on Hertz cars and hotel accomedations etc Price: Raynair is offering cheap flights, around 70% of seat are at very low prices. Place: raynair is focusingmore on the internet as main way t book flghts, in addtion to that, contracting with secondry airports to o reduce costs. What is more, raynair is trying to keep its fleet in the air as long as possible to insure steady income. Promotion: Raynair is trying to mimimise its spendutire on advertisments, and using more social website to promote its flights. So what Raynair can do to change its markiting strategy or improve it? First of all, improve its employees satisfaction to improve its serfvices Secondly: Raynair can keep focuisng on promotiing chaep flights to servive the firce compttitions Thirdly: re arranging its flihgts routs to main airport, to reduce costs. Forthly: increas its investment in socialmedia website to improve its consumers loyalty. Fifthly: outsourcing its services might allow Raynair to focus more on its strength points and avoid its weak points....

Words: 909 - Pages: 4

Markiting Plan

...Marketing Plan: Coca-Cola in 2015 Matt Curd Matt Curd Page 1 Marketing Plan Purpose: In brief the purpose is to market a new innovative beverage packaging for Coca-Cola. The packaging has been designed around the brief ‘consider the creation of a new concept form of beverage packaging container for 2015.’ The Coca-Cola Company is one of the largest manufacturers, distributors and marketers of nonalcoholic beverage concentrates and syrups in the world. Coca-Cola's headquarters are in Atlanta, Georgia, in America. It is best known for its flagship product, Coca-Cola, and is one of the largest corporations in the United States. Today, Coca-Cola is an internationally recognized soft drinks company with ambitious plans to further grow the brand. The company owns the majority of the soft drinks available in coolers and in vending machines in the western world. Some of these brands include, Coca-Cola and sub brands1, Dr Pepper, Fanta, Sprite, Oasis and PowerAde. A full list of Coca-Colas affiliated brands can be found on their corporate website2. The 2005 Annual Report states the company sells beverage products in more than 312 countries or territories.3 The international presence of Coca-Cola is phenomenal and its logo, advertising and colours are among the most recognized in the world. Mission: Taken from thecoca-colacompany.com Everything we do is inspired by our enduring mission: • • • To Refresh the World... in body, mind, and spirit. To......

Words: 3901 - Pages: 16

Rural Consumer Behavior

... (2012). A Study on Buying Behaviour of Rural Families with the Purchase of Durable goods in Tamil Nadu. Journal of Contemporary Research in Management, 51-54. Kaur, S., & Chadha, A. (2014). Consumer Behaviour For Durable Goods: A Case Study of Rural Punjab. Journal of International Acadmic Research For Multidisciplinary , 10-17. kishor, D. R. (2014). Rural Consumer behaviour towards consumer durable goods in India . Internationel journal of advance research in computer science and management studies, 2(3), 14. Retrieved march 2014, from www.ijarcsms.com Ltd., G. P. (n.d.). Consumer durable india: on a growth path. Nandamuri, P. P., & Ch., G. (jan-june 2012). Brand Preference for Consumer Durable in Rural Market. Asia-Pacific Markiting Review, 50-56. P.kumar. (2013). A study on the prospects of rural marketing in A.P. International Journal for retailing and rural business perspective, 604-608. S.Kamarapu. (2014). CELEBRITY ENDORSEMENT INFLUENCE ON PURCHASE OF CONSUMER DURABLE GOODS IN RURAL TELANGANA. International Journal of Retailing & Rural Business Perspectives, 1278-1282. 16 ...

Words: 4149 - Pages: 17

Benefit Segmentation

...each representing a potentially productive focal point for marketing efforts. Each segment is identified by the benefits it is seeking. However, it is the total configuration of the benefits sought that differentiates one segment from another, rather than the fact that one segment is seeking one particular benefit and another a quite different benefit. Individual benefits are likely to have appeal for several segments. In fact, the research that has been done thus far suggests that most people would like as many benefits as possible. However, the relative importance they attach to individual benefits can differ importantly and, accordingly, can be used as an effective lever in segmenting markets. Of course, it is possible to determine MARKITING MANAGEMENT benefit segments intuitively as well as with computers and sophisticated research methods. The kinds of brilliant insights that produced the Mustang and the first 100-millimeter cigarette have a good chance of succeeding whenever marketers are able to tap an existing benefit segment. However, intuition can be very expensive when it is mistaken. Marketing history is replete with examples of products someone felt could not miss. Over the longer term, systematic benefit segmentation research is likely to have a higher proportion of successes. Wide Range of Applications But is benefit segmentation practical? And is it truly operational? The answer is yes. In effect, the crux of the problem of choosing the best......

Words: 3562 - Pages: 15

Markiting Plan

...MM522: Marketing Management Marketing Plan: Third Draft Professor: Randall Livingston Eric Bediako Lokko (D03320168) Springfield, Virginia ebediakolokko@my.keller.edu 703-677-5847 December 2nd, 2011 1.0 Executive Summary EBL to Go is a new medium size restaurant eatery that will be located in the busy neighborhood of Fairfax and Midtown area of Fairfax, Virginia. EBL to Go emphasis will be on preparing freshly made meals on a daily basis using naturally grown to organically produce products. The décor will be an upscale restaurant with distinct menus that will include authentic, freshly produce ingredients coming straight from the farm. These facilities will include a fifty people capacity eating area, deli/kitchen with a counter for take out, pick up, and check-out; also public restrooms will be available. These areas are in need of a warm and friendly place giving a home like feeling with the quality of foods we are planning to offer. The place where people are confident they will be getting nothing but the best. EBL to Go will be the answer to an increasing demand for a healthier eating lifestyle. The deli will serve freshly prepared salads, sandwiches, specialty fruit drinks and picnic lunches when ordered. All the recipes used in the deli and the eatery will be prepared daily by our on staff dietician in different categories of caloric measurements starting from 1,000 to a high of 1,600 to fit the customer’s needs. Our menus will be of...

Words: 6608 - Pages: 27

Aaaaaaaa

...Name:_Xing Li _____________ FINAL EXAM PRINCPLES of MARKITING Winter 2012 1. A lifestyle center is a? D A) pedestrian center B) psychographic centric segment C) family centric segment D) shopping center E) upscale center segment 2. Industries often have an established company that is a price leader. When competitors “meet” the leader’s price, the competitor is pursuing a ______?_____ strategy? B A) price war B) pull C) maximization D) status quo E) elasticity 3. All of the following statements about branding are true except? C A) Branding facilitates buying. B) Branding may provide psychological benefits for the buyer. C) Branding differentiates a firm's products from competitors. D) Branding helps focus and facilitate marketing efforts. E) Branding guarantees that the consumer will be satisfied with the product's quality. 4. The goal of follow-up of sales by a salesperson is to build customer? E A) knowledge B) competence C) differentiation D) technical expertise E) loyalty 5. According to the traditional demand curve, a low price will result in: D A) a reduction in the quantity demanded. B) a reduction in the quantity produced. C) an increase derived demand. D) an increase in the......

Words: 3268 - Pages: 14

Apple

...an approach to give a glimpse on the strengths and weaknesses of Apple in relation to all aspects of the environment. Moreover, it has provided a different view to the other side. The opportunities and threats that Apple could take in consideration to plan its future strategies. References Balaure, V., Marketing, (2003). (2ed ed).Bucharest: Uranus PH. Claudiu, C. S. (01/12/2011). INTERNAL ENVIRONMENT ANALYSIS TECHNIQUES. Analele Universităţii din Oradea. Ştiinţe economice , 1 (2), p. 731. from http://www.doaj.org/doaj?func=openurl&genre=article&issn=1222569X&date=2011&volume=1&issue=2&spage=731 Dumitru, I., Marketing strategic.O abordre in perspectiva globarizarii (strategic Markiting A globalisation Approach), (2003), Bucharest: Uranus PH. Grandmont-Gariboldi, N. (2010). The SOWT model revisited - A multi-disciplinary approach. Journal of Multidisciplinary Research, 2(2), 71-86. http://search.proquest.com/docview/867686296?accountid=13380 Porter, M. Competitive advantage creating and sustaining superior performance, (1985). New Yourk: Simon &Schuster Adult Publishing Group Reyes, E. A. B. (2008, May 20). "Re-analyzing" the external environment. The Manila Times, pp. n/a. http://search.proquest.com/docview/380915425?accountid=13380...

Words: 1406 - Pages: 6

SHIPPED FROM OVERSEAS UNIVERSAL Earloop Earhook Ear Loop Hook For Samsung HM1900 HM1300 Bluetooth Headset Clear -67% KSh 99 KSh 296 (1) Buy now | Bass (1) | Small Dog Pet Puppy Hoodies Jumper Knit Sweater Clothes Coats Costume Apparel Us