StudentShare solutions
Triangle menu

Marketing mix and tool - Term Paper Example

Not dowloaded yet

Extract of sample
Marketing mix and tool

The secret of flourishing marketing is utilizing the suitable means to target the audience. Marketing the business is regarding how one positions it to satisfy the market’s requirements. There are four vital building blocks within marketing of products as well as business. These are known as the four P’s of marketing. Product. The appropriate product to go well with the needs of the target client. Price. The appropriate product sold on the appropriate price. Place. The appropriate product accessible easily on the appropriate price at the appropriate place so the customers can purchase it. Promotion. Updating prospective customers about the “availability of the product, its price and its place” (Tehrani, p. 154). All the four P’s are variable that one manages while forming the marketing mix that will create a centre of attention for potential customers. The marketing mix must be something that gets the complete attention because the accomplishment of business relies on it. As a business executive, one should find out the way to apply these variables for attaining the profit prospective. Product Product means the commodities as well as services offered to the customers. Other than the physical merchandise, there are factors linked with the product that consumers may be paying attention to, for instance, it’s packaging. ...
Successful executives keep a close eye on the needs their product bundles offer to consumers. The product bundle must go well with the requirements of a specific target market. For instance, a lavish product must generate simply the accurate image for consumers who posses everything, whereas a number of essential products are required to be positioned for price sensitive buyers. Some additional main features of product take account of a suitable product range, “design, warranties, or a brand name” (Tehrani, p. 241). Through study of consumer preferences is a most important component in creating a successful marketing mix. Understanding of target market as well as competitors will let businesses to present a product that will attract customers and circumvent expensive blunders. If a business is are thinking about launching a new product, then it should ensure that the product bundle will fit its strengths as well as weaknesses, and that it will offer a tolerable “risk/return trade-off” (Tehrani, p. 278). Such as, if the business is extremely good in well-timed reaction to customers’ queries, then appropriate service must be a significant factor of the product bundle. One should think in long-term perspective regarding the venture by considering the ways by which product bundle can be intensify as well as expand, such as, one may be capable of taking benefit from prospects to ‘add value’ by “processing, packaging, and customer service” (Tehrani, p. 266). Other potential development may let business to present the product to various customers. New ventures are successful for the most part when they target their hard work on single product or single market, such as an eatery or an automobile service station does. Afterwards, development ...Show more

Summary

MARKETING MIX & TOOLS Introduction Marketing Mix is among the most basic ideas in marketing. For drawing customers, all companies have to focus on four basic building blocks - Product, Price, Place, and Promotion…
Author : wernerokon
Marketing mix and tool essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the term paper on your topic
"Marketing mix and tool"
with a personal 20% discount.
Grab the best paper

Related Essays

Effectiveness of Marketing Communication Strategies and Technologies
This article demonstrates the convincing force of the semantic onsets that can really revolutionize the concept of modern advertising. It has been proved very assertively that the properly used words can play a very effective role in the process of communication as compared to the conventional or earlier substitutes.
8 pages (2000 words) Term Paper
Marketing
With regard to the present technological advancements, the organizations are highly involving themselves in making proper utilization of technology in terms of increasing the productivity along with developing the distribution channels at a more cost effective and time consuming mode.
10 pages (2500 words) Term Paper
History Of Marketing
This raises an interesting question as to how marketing has been able to manifest its truest form when the world has become better, shrunk in size and has essentially looked like a global village? The answer to this question lies in the nuances that engulf marketing in essence.
5 pages (1250 words) Term Paper
Marketing on the web in terms of marketing for e-commerce business initiatives
At the preset, almost all the small and large size businesses use internet for the marketing of their products and services. In this scenario, the process of conducting this kind of business operations on internet is acknowledged as internet marketing. This paper presents some of the important aspects of e-marketing and web based promotional framework.
3 pages (750 words) Term Paper
Marketing Plan
The study will offer a marketing plan for a newly developed Wine Bar in Sweden. Wine bar business is one of the profitable businesses around the world. A potential crowded place is required in order to establish a wine bar business. Finch wine bar is trying to enter in the potential and competitive Swedish wine market.
5 pages (1250 words) Term Paper
Marketing Theory
d distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives” (Calonius 419-428). This definition of marketing forms the core of all marketing theories that has been developed by various authors. It emphasizes on the purpose that marketing has in business or organizations around the world.
8 pages (2000 words) Term Paper
Mobile Marketing/Marketing Through Cell Phones
Critics (King 229, Chung and Sherman 43) admit that modern consumers do not necessarily desire governmental regulation of business and marketing activity; however, increased intervention will result from unresponsive business policy. King (2008) describes the possibility of increased governmental involvement in the market system as a result of business' delayed response to consumerism.
10 pages (2500 words) Term Paper
Channels & intermediaries for marketing plan and promotion strategy
In recent years, however, the attitudes towards marketing channels have changed, and many businesses have taken keen interests in this area. Developments that have resulted in the change, in attitude
4 pages (1000 words) Term Paper
Marketing Plan

The author states that the recent economic downturn has made the current consumer base to change the grocery-shopping trend. The current customer base includes young singles; younger childless couples and mile aged childless couples. On equal measure, the current target audience includes the married women with children and busy mothers.

11 pages (2500 words) Term Paper
Marketing management report
Sales are dependent on the lone channel for marketing and distribution, which is its online presence, and given the limited funds, the options considered in a marketing plan relate to improving distribution and promotion. The recommendations
8 pages (2000 words) Term Paper
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation