Explore BrainMass

Importance of Marketing Mix

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

How has one marketing principle or idea affected how you view your role in your
company, the importance of marketing, or changed how you view marketing in your organization? (MBA LEVEL)

© BrainMass Inc. brainmass.com October 24, 2018, 7:30 pm ad1c9bdddf

Solution Preview

Marketing Principle of Marketing Mix

This is one idea that has influneced me considerably. The marketing mix approach to marketing is one model of creating and implementing marketing strategies. It stresses the "mixing" of various decision factors in such a way that both organizational and consumer objectives are attained. The most common variables used in constructing a marketing mix are price, promotion, product and distribution (also called placement).
Product: Defines the characteristics of your product or service that meets the needs of your customers.
Price: Decide on a pricing strategy - do not let it just happen! It means deciding the price which consumer has to pay including discount strructure.
Promotion: This includes all the weapons in the marketing armoury - advertising, selling, sales promotions, Public Relations, etc.
Place (or route of distribution): Some of the revolutions in marketing have come about by changing this P. Think of ...

Solution Summary

This explains the importance of Marketing Mix

See Also This Related BrainMass Solution



What is the importance of marketing to an organization and the top three marketing challenges faced by the organization. How do three challenges impact the organization's marketing mix. Assess the importance of marketing research in overcoming these challenges.

View Full Posting Details