Essay on Marketing Techniques
In this case, we will discuss the combination of the four Ps used for the purpose of marketing product is known as the Marketing Mix. For this paper, we will be creating a marketing mix and describing how they apply to a specific product.
Marketing strategies determine a product’s future sells and success. In this paper we will identify a tangible product of my choice and explain why this product was chosen. Then we will explain the characteristics of each element of marketing as it applies to this product. The four p’s of marketing are product, pricing, place, and promotion. With this being stated, we will lastly discuss why each of the 4-P decisions would be important when marketing this selected product. …show more content…
Another element of marketing strategy is pricing, which involves the money consumers are willing to pay for the good, service, or idea. Sony is one of the most popular entertainment producers, and has products in many if not all homes around the world. The company does an acceptable job maximizing profit and satisfying consumers simultaneously for the PlayStation System. Sony seems to always choose a price that consumers are willing to pay and also compete with other gaming units in competition. The PlayStation has always been an enjoyable gaming system and Sony has done a good job with accounting for the product’s primary value. Even though other products compete closely with the PlayStation, their pricing is often consistent.
Place, or distribution, involves transportation, storage, and work with the organizations that are dedicated to product distribution. The Sony PlayStation is sold in majority of the electronic retailors such as Best Buy, Target, and Wal-Mart. GameStop is a retailer that sells gaming products to consumers, such as PlayStation, which make it convenient for consumers and target a specific audience. Since many people find it more convenient to shop online, PlayStation usually