Order similar paper The Role of a Quality of the Product in the Marketing Strategy If the product is of low quality, all marketing efforts will fail. A nice packaging, attractive promotion or even a lower price of competitors cannot replace quality. The successful marketing strategy is the one that has all elements balanced.
Product, Price, Place, Promotion — Essay Sample Marketing decisions made by a company when shaping a suitable proposition for the potential customer can be organized into four major groups.
These are Product, Price, Place and Promotion. The actual meaning of those four is creating the right product, selling it at the right price and in the right place, with the use of the most effective promotion possible.
When being in the process of bringing some particular product to the market, the organization is supposed to make choices concerning the product that will eventually influence the effectiveness of a chosen strategy. The choices that are made concerning the product can be: To define what the product is supposed to represent questions may be asked like: What requirements does it satisfy?
How and where will the customer exercise it? What does it look like? How is it different from the one product of your competitors? It is no secret that each person pays a lot of attention to the price of the product being bought.
Each customer weights benefit the product is to bring versus its cost in order to make a wise decision. It is also important to mention that while all the other three aspects of marketing mix are costs, price is the only one which creates sales revenue.
The possible decisions marketer is making concerning the price are: The questions that can be asked in order to understand the pricing element better are: What is the value of the product or service to the purchaser?
Is the client price sensitive? What discounts should be proposed to customers, or to other particular segments of your market? How will your price contrast with that of your competitors? Delivering the right product to the proper place at the right time requires creation of a distribution system.
Once again, the choice of convenient distribution methods depends greatly on present circumstances. Understanding of this particular element of the marketing mix can be obtained if giving answers to such questions as: Where do buyers search for your product or service?
In what kind of stored do they look for the product? How can you contact the appropriate distribution channels?
What do you competitors do, and how can you benefit from that? It is concerned with presenting customers with information needed to make a decision.
|Essay: Essay's marketing mix - Essay UK Free Essay Database||Marketing Strategy and Mission Statement Planning is an important component of every business.|
The fact is that, even though being sometimes extremely costly, promotion can increase the sales significantly, so that advertising and other costs are spread over a larger output.
If being properly organized and successfully implemented, promotion can be extremely cost-effective. These are the questions that can be helpful when defining this particular element of marketing mix: Where and when can one get across your marketing messages to the target market?
How will you reach your audience in the most effective way possible? When is the best time to promote?Marketing Plan There are four factors involved in developing a successful Marketing Strategy: Product, Pricing, Place, and Promotion.
I will explain how using these . The Marketing Mix Essay - The Marketing Mix The objective of this document is to gain an understandable idea of the marketing mix. The marketing mix is an indispensable element of every firm’s marketing arrangement. Marketing Development Strategy Essay; Marketing Development Strategy Essay.
11 November Abstract.
The kind of marketing where all customers are treated as one and everybody is a potential customer, there is one marketing mix applicable to all. This kind of marketing is called Mass Marketing.
However in this case satisfying the. The marketing mix in marketing strategy: Product, Price, Place and Promotion The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market.
It consists of everything that a company can do to influence demand for its product. The Marketing Mix, a basic tool of Marketing managers, is defined by Microsoft Encarta World English Dictionary as: "mar•ket•ing mix (plural mar•ket•ing mix•es) noun mixture of marketing techniques: the particular mixture of marketing techniques, for example, pricing, packaging, and advertising, used to promote the sale of a product" ().
The marketing mix is the most fundamental elements that needed to operate a company. Pensonic introduce a green product which is a mini portable fridge need to consider all the factors in term of the quality, safety, design, packaging and so on.