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Marketing Mix and its Importance for the Marketers - Essay Example

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Masters
Author : smuller
Essay
Marketing
Pages 7 (1757 words)

Summary

Marketing Mix and its Importance for the Marketers
The marketing mix is a tool that is used for marketing purposes in business. The marketing mix plays an important role in determining the product or service made by a brand. …

Extract of sample
Marketing Mix and its Importance for the Marketers

Over the years, more Ps have been identified to address the innovative features of the latest products and services. Lately, a set of four Cs has also been introduced by various theorists in an attempt to customize the four Ps so as to make them more customer-driven. According to Lauterborn, the four Cs represent consumer, communication, cost, and convenience (Burgers, 2008, p. 3). Shimizu has defined the four Cs as commodity, communication, cost, and channel (Solis, 2011, p. 201). Basically, commodity in C is the same as product in P, communication in C broadens the concept of promotion in P, cost in C is the replacement of price in P, whereas channel or convenience in C takes the concept of place in P to the next level. The product or commodity emphasizes on the importance of the physical attributes of the product or service that include but may not be limited to the size, weight, and dimensions of the product, and the materials used in it. Product is of immense importance because this is what the consumers need and the marketers’ entire marketing strategy is based on. In the contemporary age, one feature that the consumers are particularly interested in and which the marketers should thus place huge emphasis on is the innovation. Other factors that are also important include the product or service’s environment friendliness, and user friendliness. ...
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