Marketing mix

Marketing is defined as “the process of planning and executing the conception, pricing, promotion and distribution of ideas, products and services to create exchanges that will satisfy the needs of individuals and organisations” (Oxford Dictionary of Business and Management, 2009:352). In order to truly understand marketing as a business function, we must consider its purpose as well as its objectives, which methods, tools and concepts are involved, what thoughts and ideas there are about…

McCarthy’s 4Ps is a widely used fundamental concept of a marketing mix. The purpose of this essay is to discuss whether 4Ps is still credible model or it requires replacement. However, at first it is important to look at elements of the model and its significance in marketing practice. Secondly, it is vital to recognise numerous changes that took place and shaped the entire concept of marketing. Subsequently it is crucial to look at critiques of the model and alternatives suggested by different…

involved the real marketing when the potential customers become enthusiastic about the product after getting information about it.…

INTRODUCTION Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of activities that we could call marketing. Good marketing has become an increasingly vital ingredient for business success. And marketing extremely affects our day-to-day lives. It is enclosed in everything we do from the clothes we wear, to the web sites we click on, to the ads we see. What is MARKETING Marketing is about identifying human and social needs and meeting those needs…

Introduction Articulated in four parts, the following case study firstly identifies the sources of economic value for Medi-Cult (now branded Origio) which effect pricing strategy and connects them to accepted best practise principles. Economic value in marketing encompasses the rational, emotional and relationship benefits of a product as seen by stakeholders. Secondly, the study examines different methods of measuring customers’ perceptions of value. Thirdly, armed with the relevant…

provide and how they approach their marketing mix. So in hindsight, organisations look to standardise or execute their products and services on a local scale and potentially adapt or expand into an international market. In this essay the key factors of standardisation and adaptation will be explained, followed by examples and reasons to explore whether there is a difference between goods and services in terms of standardisation and adaptation in international marketing. Firstly, to understand…

1. Compare and contrast the various levels of distribution intensity. Distribution intensities are in direct relation to the number of marketing intermediaries. There are three strategies available that companies must use to determine the number of channel members to use. The three strategies are intensive distribution, exclusive distribution, and selective distribution. (Armstrong, G., Kotler, 2013) In intensive distribution is then used when a company, stocks the product in as many…

In order for Coca-Cola to get back on top it is imperative that there is a restructuring in the company marketing mix. The company must look at the four P’s and ensure that it is attacking every facet of the marketing mix. The company will need to look at how has the demographic changed for the product. Coca-Cola must know who they are marketing to and has the community that was once severed become obsolete. Know whether or not the look needs to change or maybe the company…

Marketing Currently, companies in almost all industries are faced with intensive competition (Goyal, 2014). Consequently, for more that 50 years now, researches have been discussing the benefits of customer-centric paradigm (Shah et al., 2006). As found by Kotler et al. (2008) it is inherent for firm success to have the passion for satisfying customer needs and marketing is the business function that deals with customers the most. Therefore, managing the profitable relationship with customer and…

Marketing and the Diverse Factors that Influence It When I think of marketing I think of commercials, newspaper ads, even social media ads, but what is marketing. Marketing is the management process through which goods and services move from concept to the customer. It is also an organizational function with a set of processes for creating, communicating, and delivering values to the consumer (“What is marketing? Definition and meaning,” 2015). Managing customer relationships in ways that…