Marketing Mix - Essay Example

Extract of sample
Marketing Mix

All the element s of the marketing mix can affect consumers is multiple ways. Therefore, marketing mix is used by firms to achieve its objectives (Lancaster and Reynolds 2003). This happens when these marketing tools are employed by an organization to pursue the target market marketing of a product entails creating an excellent marketing mix with the right product being matched with the right price, suitable proportions and in the right place. When developing a befitting marketing program for an organization, the marketing manager is required to weigh behavioral forces before juggling marketing mix elements while taking into account the resources at his disposal. The organization must consider itself as a single organism in a world of complex forces. Many other industries are competing with the industry in which the firm is only a part of (Brassington and Pettit 2006). The marketing department must develop a mix of procedures that make maximum use of the available resources. Marketers are required to look for opportunities in the method of operation. A small organization cannot use procedures from large organizations. Though the two companies may deal with similar products, they are likely to be different in many respects. A compelling example is the industrial goods industry. Small companies go for regional sales as opposed to national distribution that is practiced by large corporations. ...Show more

Summary

The marketing mix is described as product, place, price and promotion, commonly referred to as the 4P’s. They are designed to enhance decision making of the customer who can lead to increased profits. …
Author : lmarks
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