Purchase Solution

The Marketing Mix

Not what you're looking for?

Ask Custom Question

What is the marketing mix is as well as why it is important to a business. 400 words and please provide sources. Thank you.

Purchase this Solution

Solution Summary

Marketing is ensuring that the right product reaches the target buyers at the right place, with the right price, and at the right time. This could only be done effectively through the right combination of the four Ps or the so-called marketing mix - product, price, place, and promotion. Decisions on these four components are critical because they will determine the success of the product/service in the market. The right marketing mix could also save the company from committing critical mistakes that will adversely affect marketing performance.

Solution Preview

Please refer to the attached file for the response.

THE MARKETING MIX
Marketing is defined as putting the right product, at the right place, at the right time. Effective marketing can only be made possible by the right marketing mix.
What is the marketing mix?
According to an online source, one must create a product that a particular group of people want, put it on sale some place that the same people visit regularly, price them at a level which matches the value they feel they can get out of it. This must be done during the time that the people (target buyers) want to buy it. However, for people to know about the offer, promotional activities must be made - it is a way to send information to the buyers and to encourage them to buy the product.
Specifically, the marketing mix, commonly known as the 4Ps include the ...

Solution provided by:
Education
  • Bachelor of Science in Business Administration, University of the Philippines
  • Master in Business Administration, Saint Mary's University
  • Doctor of Philosophy in Education, University of the Philippines
  • Doctor in Business Adminstration (IP), Polytechnic University of the Philippines
Recent Feedback
  • "Excellent information thanks for the input"
  • "Thank you"
  • "Very thorough and informative. Thank you."
  • "Good response. Very detailed"
  • "This solution is excellent. Thank you"
Purchase this Solution


Free BrainMass Quizzes
Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.