This website uses cookies to ensure you have the best experience. Learn more

Marketing And The Marketing Mix Essay

912 words - 4 pages

Marketing and the Marketing MixThis essay describes and explains the concepts of Marketing and the Marketing Mix.MARKETINGMarketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that will satisfy individual and organisational objectives.Marketing is about connecting with customers, serving the needs of society, and accomplishing the goals of the organization. Through customer satisfaction marketing creates the customer loyalty necessary to reach an organization's objectives. Marketing works by creating valuable exchanges that provide utility (consumer satisfaction). The marketing strategy ...view middle of the document...

g. brand name, product line, customer service) parts. In general terms, product also refers to the needs-satisfying offering by a business to consumers. It is therefore more than the physical thing sold by the business.PRICEPrice refers to the final cost of the product that is paid by the consumer. It represents the intrinsic value of a product or service to consumers. A business may implement a variety of pricing policies dependant on revenue goals.Therefore in Marketing terms: PRICE = PRODUCT VALUEEconomic demand analysis (through market research) will indicate how much consumers are prepared to pay for a particular product or service at any given point in time. Here, the higher the price of a good, the fewer people that will demand the product. Their utility (satisfaction level) is not maximised. In most cases as price fall (from P to P1) the product becomes relatively attractive and as such 'in demand' by consumers (Q to Q1). Total Revenue for a firm is represented by Price x Quantity Sold, or:TR = P x QPLACEPlace is broadly concerned with both the location of business and the method of distribution between producers and consumers. Only in rare circumstances does the initial producer or manufacturer of products also act as the first and final link to consumers. The complexity of modern society makes it necessary for intermediaries to act as a direct link between producers and the ultimate consumers of products and services.A distribution channel refers to the type of intermediary or linkage between producers and consumers. A one-channel distribution network involves only the retailer between producer and consumer. Two-channelled distribution may include various intermediaries such as wholesalers. Direct distribution occurs when the producer directly...

Other Essays On Marketing And The Marketing Mix

Marketing And Brand Essay

3807 words - 16 pages PAGE MARKETING AND BRANDS1.0 IntroductionCoca-Cola is an example of high value brand. Brands are among the most important assets of a firm. It takes a huge amount of resources over along period of time to build strong brands in the marketplace. A strong brand has a loyal customer base that stick to the brand in good and bad times. A strong brand also commands a high acceptance rate in the market place at a premium price compared to weaker

The Marketing Plan Objective Essay

605 words - 3 pages objectiveOver the 12 months period, we plan to increase retain earning for more than double, that is up to around $7 million. Therefore, we will do strong effort in our marketing mix to introduce our new product and also plan the most effective step for our implementation and control to reach this goal. Such effort is including efficient resource allocation and financial plan on each segment.4. Marker share objectiveWe would like to increase our market

International Marketing Plan And Objectives

996 words - 4 pages Pure-n-Clean Water Filtration: International Marketing Plan and ObjectivesPure-n-Clean is a company that specializes in the manufacturing of water filters for under-developed and third-world countries. The company is currently seeking to expand business to Mexico based on the growing tourist areas throughout the country. The filters will allow local water sources to be used for drinking water for locals and tourists. The first step in any

Marketing Research Shapes Consumer Needs And Wants Versus Marketing Research Merely Reflects The Needs And Wants Of Consumers

251 words - 2 pages Market research begins with premise that information plays a critical role in the success or failure of organizations. I believe marketing research shapes consumer needs and wants. Every business has the same goals. We all want to improve customer service, deliver more value to our customers, and find new customers without spending a fortune on marketing. Marketing research can help us reach these goals or it can be a complete waste of money. It

The Power-Maxx Marketing Plan

7348 words - 30 pages phone users as "Power Users" who are males age 25 to 34. The laptop market identified is males ages 35 to 49 with an annual income of greater than $75,000. The consumer's response indicated that the target market is interested in a product that has a longer run time and is refillable. These responses indicate those features in our product that are of the greatest importance to our target market and thus will be part of the marketing mix. As

Marketing Segmentaion For The Hummer Suv

1423 words - 6 pages one segmentThe firm may decide to market to more than one segment and design a separate marketing mix for each.It's not clear from the case which strategy the AM General are followingDecision and OpinionFor H2 hummer to enter the market with a SUV similar to the competitor's product they have to focus on the superiority of their products compared to the others.They have to do a careful market segmentation based on the issues I list before which it

The Major Differences Along The Supply Chain Between The Business To Business And The Business To Consumer Marketing

3523 words - 15 pages provides an overview of the main differences in B2B and B2C regarding the market, the decision making process and the marketing mix.2. The market2.1. An overviewThe FMCG is a low-margins business. It is extremely competitive. According to the firm Invensis 'the smaller companies tend to specialise in production of category products. A few global giants produce many brands but those brands fall into self contained categories as well.' (http

Marketing Management And Strategy For Myer Comapny. Nick HSU

4034 words - 17 pages 1.0 INTRODUCTIONThe following report describes and analyses Myer's generic and distinctive marketing strategies, as well as providing accurate industry, competitor, market, and SWOT analysis'. Evaluation of Myers' marketing strategy is conducted, thus analyzing the strengths and weaknesses of the strategy. Finally the report recommends possible future courses of actions available to Myer, in order to improve profits and prevent mistakes in the

Development Of Pre-Dried And Blended Lime Mortars For The Ready-Mix Market

2747 words - 11 pages mixed on site, or factory-produced ready-to-use mortar can be bought. (Allen, 2003)Ready-to-use mortars are replacing on-site mixed mortars, due to their advantages over on-site mixed mortar. They are made in factories under tightly-controlled conditions and delivered to site, ready to use. They have guaranteed mix proportions and overcome any potential problems relating to site mixing. They contain accurate cement ratio in the mixture. This is

Assess The Value Of Marketing In This Major Financial Services Group As A Business Philosophy. Based On Barclays. Module Was Marketing In Financial Services. Enjoy!!!

2338 words - 10 pages marketing mix promoting a product is hampered if there are poor communication techniques or poor communication channels. If clear communication processes are in place then it is possible for Barclays to stay customer focused because through these processes feedback and opinions can be analysed. After analysis the service can be altered to identify the need then increase profits.Cohesion: Greater Cohesion should be achieved through the restructure

Discuss The Factors That Affect The Quality Of The Information Obtain By Marketing Research. Be Explicit

520 words - 3 pages Discuss the factors that affect the quality of the information obtain by marketing research. Be explicit.The information obtained by the marketing research is based on the data that may involve the specific types of errors. These errors are the factors that diminish the quality of data. The research design is classified into exploratory and conclusive that splits into descriptive and causal. Because these methods are different it is

Similar Papers

Marketing Mix Essay

1314 words - 6 pages Marketing Mix PAGE \* MERGEFORMAT 5 Marketing MixLance VandegriftUniversity Of PhoenixMKT/421August 12, 2007Marketing Mix"Product, price, promotion, and place the four P's of the marketing mix. This mix recognizes that marketing is customer focused and products are developed to meet the desires of groups of customers. Management of the product and product marketing are the specification of the goods or service and how it meets the customer's

The Marketing Mix For Sony Dvd Players

2522 words - 11 pages The marketing mix is the way that the four parts of a companys marketing policy are combined in order to achieve its objectives. It is also known as the 4 Ps. These are product, price, place and promotion. The way they are combined depends on the type of product and the nature of the competitors. The marketing mix of its competitors will also affect it too.ProductProduct is about how the product has changed and how it will change over time in

The Marketing Mix A Company Uses Is Likely To Be The Same Regardless Of Witch Country Or Region It Operates In. Discuss

966 words - 4 pages The marketing mix a company uses is likely to be the same regardless of witch country or region it operates in. Discuss.The marketing mix is an effective tool that businesses use to sell their products. As Chambers and Gray described in the Business Studies: "The marketing mix refers to those elements of a firm's marketing strategy which are designed to meet the needs of its customers."(Chambers &Gray, 2008, p72). Marketing mix is consisted

Marketing And Advertising Essay

521 words - 3 pages Marketing and AdvertisingSometimes the most obvious issues are the most difficult to understand, and I want to dedicate this post to one of the most basic but important . When speaking to promote a product , brand or company , there is a range of possibilities , among which is advertising. But what really is advertising and what is its relationship to marketing?When I enter my students ( coming communicators , advertisers, marketers and public