The Process of Marketing, Marketing Mix - Essay Example

The marketing mix is essential as it dictates quite a few points, the most important of which is the element of creating a connection between the end consumer and the manufacturer. Marketing mix has been known to create all the positive vibes that have been important for a long time, ever since the discussion of business started. Marketing cannot be deemed as a success if the different elements which make it up are not qualified and are unwilling to provide the business application (Egan 2006). Therefore marketing mix is very significant towards the understanding of marketing and creates the much-needed space for linking the customers and the manufacturers/producers of the product. The central premise of marketing is to arouse the need for selling a product that is not yet desired by the consumer. Therefore selling something that is of the essence for the consumer yet not realized by him is true marketing (Mason 1994).

When the talk goes out loud regarding the marketing mix, one must understand that price plays a very important role here. If the price is set right, the consumers will buy the product and thus satisfy their needs. A Nike shoe is priced more than an ordinary one because Nike has more brand equity and is famous for its designs and state-of-the-art shoe technology. Moving on, the place is the exact retail location where the product is sold or made available to the consumers. In the instance of Nike shoes, the place is the flagship store of Nike as well as other generic shoe outlets where there are specific Nike counters (Fritz 2002). One must understand that the 4 Ps would not function properly if the element of promotion is taken out from the fray.

Promotion includes advertising, personal selling, trade and sales promotions, direct marketing and public relations sub-tenets. Advertising looks after the aspects that deal with the mass targeting of the product towards the consumers. Advertising and other promotional mix elements are important because these tell the basis of promotion that is deemed as significant for the sake of the product in the long run. If the Nike shoe is being advertised on television and in print, this would be called a promotional activity (Evans 2008). Similarly, if the same campaign is run on the radio or advertised through outdoor hoardings and billboards, then this would also be remarked as one form of promotion. In essence, the marketing mix comprises these 4 Ps, all of which are essential towards the basis of growth and development of the product itself.