Marketing Mix Essay

The meaning of marketing is the process of creating, distributing, promoting, and pricing of goods, services, and ideas to create customer satisfaction in a dynamic environment. Marketing focuses on advertising, developing, managing, and selling a product. Advertisement is one of the most important factors of marketing because in order to sell a product companies need to advertise it. The concept of marketing is to satisfy the customer’s needs that allows an organization to achieve its goals.

A marketing mix is a variable commonly referred to as the four P’s which are product, price, place, and promotion. The product variable of the marketing mix deals with customer needs, wants, and designing a product that satisfies them. A product can be a good, a service, or an idea. The product variable involves creating and modifying brand names and packaging that may include decisions regarding warranty and repair services. The place variable deals with the desire to target as many customers as possible. In order to satisfy customers, the product must be available at the right …show more content…
These marketing strategies include increasing customer value over time and managing customer relationship. By increasing customer value over time, organizations try to retain and increase profitability through customer satisfaction and loyalty. This is important for a company to master this concept because companies strive to keep their customers satisfied in order to increase sales and gain a positive reputation. Managing customer relationships requires identifying patterns of buying from customer’s behavior and using that information to focus on how that product can be promising and profitable for the customer. This is important for a company to master this concept because companies need to determine the customers’