Marketing : Marketing And Marketing Essay

773 Words Nov 18th, 2015 4 Pages
Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” If you read the definition closely, you see that there are four activities, or components, of marketing: Marketing mix involves making marketing decision, which are aided by categories that comprise of product, price, place and promotion (4 P 's). These categories play a vital role in helping mangers control access or perimeters of making decisions, which are customer focused in the target market. Market mix’s objective is to create value and increase positive response for the company.
“This tool is made up of four variables known as the "Four P 's" of marketing and marketing mix blends these variables together to produce the results it wants to achieve in its specific target market,”
Products
When creating or developing a product the most important aspect in this process is thinking of the customer base. Studying the customer’s needs and wants may help in attracting the right clientele to the product. Alternatively, the company can find out what people want or need before developing the product.
Price
Before arriving at the price the company has to consider all the factors that went into acquiring the product before selling it. For example, the cost of people driving to the winery to buy wine.
Place
How convenience is it…

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