Preview
Preview

Four Elements of the Marketing Mix Essay

:: 4 Works Cited
Length: 1461 words (4.2 double-spaced pages)
Rating: Blue      
Open Document
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization. After a target market is selected, “…the firm must take steps to satisfy [the customers] needs” (Kerin, Hartley, & Rudelius, 2009 p. 13). The basic concept of the marketing mix is to focus on what customers want and to keep customers satisfied. Although the marketing mix is a unique way to market a product or service, satisfying the consumers’ needs and wants is every marketer’s main goal.
Aspects of the Marketing Mix
The best way to define a market is to recognize the needs and wants of consumers and then focus on meeting those needs and wants. In today’s advertising industry, marketers use the marketing mix as a tool to satisfy their target consumers. Furthermore, the marketing mix contains controllable variables that are carefully managed by the business to meet the needs of a targeted audience. “In other words, a company has control over what product it makes, what price it sells the product for, how it wishes to place (distribute) the product and how it wishes to promote it” (Food Export, 2011 para. 4). Therefore, a good way to understand the characteristics of the marketing mix is to identify its four special elements—the four Ps. The following is a diagram of the marketing mix formula (product, place, price, promotion) (See figure 1)


Figure 1: Four elements of the marketing mix (Style, 2010)
The goal of the ...


... middle of paper ...


...te, 2010). Assuredly, a customer is the most important subject in the marketing process. Above all, the perception of the marketing mix is vital in the marketing industry because the process will allow the organization to sustain customer satisfaction and maintain corporate success. Ultimately, the focal point in the marketing mix is to fulfill the customers’ needs.



References
BusinessMate 2010, Retrieved May 28, 2011 from http://www.businessmate.org/Article.php?ArtikelId=201
Food Export Association of the Midwest USA and Food Export USA – Northeast 2011, Retrieved May 27, 2011, from http://www.foodexport.org/GettingStarted/Content.cfm?ItemNumber=1288
Kerin, R.A., Hartley, S.W., Rudelius, W. (2009). Marketing (9th ed.). New York: McGraw-Hill.
Style Communications Pty Ltd 2010, Retrieved May 18, 2011, from
http://www.stylecom.com.au/blog/?tag=marketing-mix


Click the button above to view the complete essay, speech, term paper, or research paper








This essay is 100% guaranteed.


Title Length Color Rating  
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. The marketing mix includes four key facets recognized as product, place, price, and promotion. The mix is the arrangement of the entire four groups in which a thriving marketing movement is generated. In an effort to identify with the elements of the marketing mix every category should be examined independently and the link connecting each one of the marketing blend or mix must be tackled....   [tags: Marketing ]
:: 5 Works Cited
1459 words
(4.2 pages)
Powerful Essays [preview]
Marketing Mix Essay - Marketing Mix Paper What are the elements of the marketing mix. There are four elements, which are product, place, price, and promotion. Organizations use these four elements of the marketing mix to make a profit on the product or service that they offer. The following will discuss the four p’s of marketing, and describe how each one of the four elements of the marketing mix impacts the development of a specific organizations marketing strategy and tactics. Four Elements of the Marketing Mix To begin, the first p in the marketing mix stands for product....   [tags: Marketing Mix Economic Theory Paper] 827 words
(2.4 pages)
Strong Essays [preview]
The Marketing Mix Essay - The Marketing Mix Introduction Setting the right marketing mix for the product or service means that it including all of the important bases in marketing strategy. The marketing mix is generally established as the use and requirement of the 4P’s which is describing the strategic position of a product in the marketplace. One version of the beginning of the marketing mix starts in 1948 when James Culliton said that a marketing decision should be a result of something related to a methods and he described the marketing manager as a “mixer of ingredients”....   [tags: Business Marketing] 1438 words
(4.1 pages)
Powerful Essays [preview]
Marketing Mix For Home Business Essay - Abstract The purpose of this paper is to explain the four elements of marketing mix which are: product, place, price, and promotion. I will also implement each element with the company’s marketing strategies. The organization which I will be using is Sandy’s Day Care. In my organization I had child care services for ages from new born to eleven years old. Hours of operation ranged from 5:30 am to 6:00 pm. Monday thou Friday and Saturday’s only upon request. I will explain the marketing strategies that were applied in my home business which succeeded for over five years, with an income of six thousand dollars a month....   [tags: Marketing Essays] 755 words
(2.2 pages)
Strong Essays [preview]
Marketing Mix Essay - Abstract The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P’s. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix....   [tags: Business Marketing] 1550 words
(4.4 pages)
Powerful Essays [preview]
Marketing Mix Essay - Marketing Mix Paper Introduction Purpose: Organizations use elements of the marketing mix like a chef uses the elements of a recipe. If an element of a recipe were used alone, the end product would not taste very good, but if the elements are used in the right proportions, the recipe works. Organizations use the elements of the marketing mix in the same manner. The purpose of this paper is to describe the elements of the marketing mix, product, place, price, and promotion. The paper will use an organization to describe how each of the four elements of the marketing mix affects the development of the organization's marketing strategy....   [tags: Business Marketing] 1416 words
(4 pages)
Powerful Essays [preview]
Marketing Mix Essay - Marketing Mix Paper Marketing encompasses everything from the products or services one sells, to how they are distributed to the customer. A Marketing Mix is the combination of products offered to reach a target market for the organization. "Marketing is much more than selling, or advertising (Cap Com Marketing, 2006)." The marketing mix is comprised of the Product, Price, Promotion, and distribution. The marketing mix is also known as the four P's. Worldwide, approximately 10 million people suffer from blood clots every year." Since 1997, Possis has become the leading provider of mechanical thrombectomy products by marketing its AngioJet System through a direct sales force, developing a Un...   [tags: Business Marketing] 2336 words
(6.7 pages)
Powerful Essays [preview]
Marketing Mix Essay - The marketing mix is primarily made up of four variables, and they are product, place, price, and promotion. These variables are often referred to as the four P's. Many sources often describe the marketing mix as a recipe used in developing a viable marketing strategy, with each ingredient being used different ways and at different times based on the product or service one is trying to market. This paper will utilize three sources to describe the elements of the marketing mix. It will also describe how each one of the four elements of the marketing mix impacts the development of an organization's marketing strategy and tactics....   [tags: Business Marketing Analysis] 1071 words
(3.1 pages)
Good Essays [preview]
Essay on Marketing Mix - What does the phrase marketing mix mean. What is the purpose of the marketing mix. The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization. After a target market is selected, “…the firm must take steps to satisfy [the customers] needs” (Kerin, Hartley, & Rudelius, 2009 p....   [tags: Product, Place, Price, Promotion] 1251 words
(3.6 pages)
Strong Essays [preview]
Essay A Marketing Mix - A Marketing Mix A Marketing Mix is the combination of product offerings used to reach a target market for the organization. The marketing mix comprises the Product (what the actual offering comprises), Price (the value exchanged for that offering), Promotion (the means of communicating that offering to the target audience, promotional mix) and distribution (also known as Place, the means of having the product offering available to the target audience). The marketing mix is also known as the four Ps....   [tags: Papers] 2596 words
(7.4 pages)
Strong Essays [preview]