Marketing Mix Paper
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Marketing Mix
Debra Tatum
MKT/421
July 22, 2013
Susan Tomaski
Marketing Mix
Marketing mix is an important business tool used by marketing professionals in today’s marketing. Perreault (2011) states, “that marketing mix is the controllable variables that a company puts together to satisfy its target group.” It explains the different choices an organization makes in the entire process of bringing a product or service to market. The marketing mix is a good place to start when plans for a new product or service. It helps to avoid or eliminate possible mistakes that could be made. The marketing mix elements, product, place, promotion, and price are identified as the four P’s. The Four P’s is the best known way to define the marketing mix. The four P’s each has its own function and plays an important role in the marketing mix. No one element is more important that the other, each is equally important.
Product
“The product area is concerned with developing the right product for the target market. This offering may involve a physical good, a service, or a blend of both” (Perreault, 2011). Product deals with the products or services offered to the customer. The company’s product or service must satisfy the needs and wants of the consumers. The company has to be concerned about the products physical attributes, what they do or offer, how the product is different from the competitors and what kind of benefits the product provide.
Place
“Place is concerned with all the decisions involved in getting the right product to the target market’s place. The distribution system responsibility is to get the right product or service to the right place at the right time” (Perreault, 2011). The distribution method used depends on a variety of circumstances. Place deals with where the company sells and gets its products or services to the customers.
Promotion
“Promotion is concerned with telling the target market or others in the channel...
Debra Tatum
MKT/421
July 22, 2013
Susan Tomaski
Marketing Mix
Marketing mix is an important business tool used by marketing professionals in today’s marketing. Perreault (2011) states, “that marketing mix is the controllable variables that a company puts together to satisfy its target group.” It explains the different choices an organization makes in the entire process of bringing a product or service to market. The marketing mix is a good place to start when plans for a new product or service. It helps to avoid or eliminate possible mistakes that could be made. The marketing mix elements, product, place, promotion, and price are identified as the four P’s. The Four P’s is the best known way to define the marketing mix. The four P’s each has its own function and plays an important role in the marketing mix. No one element is more important that the other, each is equally important.
Product
“The product area is concerned with developing the right product for the target market. This offering may involve a physical good, a service, or a blend of both” (Perreault, 2011). Product deals with the products or services offered to the customer. The company’s product or service must satisfy the needs and wants of the consumers. The company has to be concerned about the products physical attributes, what they do or offer, how the product is different from the competitors and what kind of benefits the product provide.
Place
“Place is concerned with all the decisions involved in getting the right product to the target market’s place. The distribution system responsibility is to get the right product or service to the right place at the right time” (Perreault, 2011). The distribution method used depends on a variety of circumstances. Place deals with where the company sells and gets its products or services to the customers.
Promotion
“Promotion is concerned with telling the target market or others in the channel...