Marketing Mix for Products (4Ps)-Literature Review According to Kemmer and Boden (2012, p. 6), the success of any business depends on the satisfaction level of its customers. The business environment has become very competitive today. As such, every company is doing its best to attract new customers and ensure that customers it already has remain loyal…
Let us write or edit the essay on your topic
"Critical Literature Review (50%) - each student will choose a particular International Marketing topic from the syllabus (severa"
with a personal 20% discount.
The marketing mix commonly referred to as the 4Ps includes product, price, place, and promotion. It is noted that for a company to satisfy the needs of its customers, it must ensure that products of the right quality and quantity are developed, charged reasonable prices, found at the right place, as well as ensuring that the existence of the goods is made known to customers through promotion. This paper will discuss the marketing mix (4Ps) as well as the importance of the augmented product model with reference to the real world examples (Gitman and McDaniel 2008, p.13). Product The 4Ps of the marketing mix consist of the product, price, place, and promotion. The poduct is one of the most fundamental elements of the marketing mix that managers must take into consideration when making marketing decisions. The product in this case is the physical service or good that a company offers to customers. The basic elements of a product include function, packaging, appearance, and warranty among others. Therefore, the product that a company intends to deal with should satisfy the customer’s requirements in terms of quality, quantity, and appearance. Ensuring that these basic elements of a product are met will make a company competitive because of the fact that many customers will prefer the company’s products to those of other competitors in the market (Lamb, Hair, and MacDaniel 2008, p.56). Samsung is one of the electronic companies that operate in a very competitive environment. As such, the company understands that to remain competitive, it must offer products that compete favorable with other companies. To achieve this, Samsung has focused on manufacturing high quality products that satisfy the needs of its customers. Most of Samsung’s products are said to be of high quality with regards to proper functionality and appearance. In addition, the company provides a warranty of not less than one year for all its products. For example, one of the company’s latest iPhone 5 is just amazing in terms of quality and functionally. The company reveals that the iPhone 5 started receiving orders even before its launch because of its quality and functionality (Page, 2013). General Motors is another company that performs very well in the automobile industry due to the high performance of its products. General Motors operates in a very competitive environment. As such, the only way to remain relevant is to concentrate on the manufacture of cars of high quality that satisfies the need of customers. According to Tehrani (2008 p. 8) a product is best described in three concentric circles namely the core product, augmented product and the Uber product. He observed that the core product is found at the center of the concentric circle and is meant to satisfy the pressing needs for which the product in developed. Then there is the augmented product consisting of the core product and other features that ensure that the product become more functional. Finally, there is the Uber product, which consists of all other intangible features added to the product such as the brand promise. The concentric model of a product can be illustrated using the mobile phone marketing. In this regard, the mobile phone becomes the core product while the augmented products will include other features such as the product warranty and after sales services. The Uber product in this case could include the customization of the ...
Cite this document
(“Critical Literature Review (50%) - each student will choose a Essay”, n.d.)
Retrieved from https://studentshare.net/marketing/107686-critical-literature-review
(Critical Literature Review (50%) - Each Student Will Choose a Essay)
“Critical Literature Review (50%) - Each Student Will Choose a Essay”, n.d. https://studentshare.net/marketing/107686-critical-literature-review.
It has dealt with various researches on the topic relevant to the requirements of this literature review. The previous research papers have been critically examined citing their pros and cons. This paper is an interesting review of the earlier research on the concept of IMC in the modern marketing environment.
This is important as the need to reach out to diverse audiences is all the more necessary in the growing age of global businesses. It helps the business to grow as a whole, and makes the entire exercise of conducting the business a viable one. It is for this reason that the business improvement and strategic marketing ranks are being monitored closely now than ever before in the past.
Pesticide production and usage is one of the fundamental contributors to the Green Revolution. The American Chemical database claimed in 1993 that around 13 million chemicals were found and are adding with the rate of 500,000 every year. For instance, in North America, the Great Lakes are found to have 200 chemicals of concern in water and sediments of the ecosystem (Hamilton 63-65).
As the discipline gained momentum, and developed through the first three quarters of the twentieth century, the primary focus was on transactions and exchanges. However, the development of marketing as a field of study and practice is undergoing a re-conceptualization in its orientation from transactions to relationships (Kotler, 1994).
European and Asian traders had been trading among each other for hundreds of years before this. They had traveled using land route, the Silk Road and camel caravans to move goods from place to place. But the new sea route around Africa was quicker and safer.
Breast feeding provides many benefits to the infant. It contains the accurate balance of nutrients that would help the baby grow healthy and keep the infant away from diseases and common child illnesses. It is not only good for the baby it is also good for the mother in many ways.
Not only the organizational structures, hierarchal structure, job description, job autonomy and bureaucracy but also the social structure, social interactions informal interactions proved the same (Ridgeway, pp. 29-33, 1992). Not only in India but also in many countries of
Promotions at work to achieve the top-most positions at places of work seem elusive for majority of women, even if academic qualifications no longer act as a hindrance. Many factors appear to block the ascendance of women
The traditional leadership models and theories require updating in response to various interests and goals of stakeholders. However, due to the vast potentials for continued research on the subject, contemporary professionals in
It made us understand about opinions of different authors. In this paper various researchers have produced their views regarding the development of stakeholder’s theory. They have focuses on different issues
10 Pages(2500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Critical Literature Review (50%) - each student will choose a particular International Marketing topic from the syllabus (severa for FREE!