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Marketing Mix at Hallmark

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Please discuss the 4 elements of the marketing mix. Using Hallmark, discuss how each element influences Hallmark's tactics and marketing strategy. How is each element implemented?

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This solution is 1,040 words and includes 3 references. It discusses the four elements of the marketing mix and how each one pertains to Hallmark.

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The Four Ps – Product, Price, Promotion and Placement

All things begin with the Marketing Aspect - The company has been at the forefront of marketing for many years. Its products were mainly greeting cards. That was then, this is now. The company has revamped its product line, placement of products, pricing of its products and enhanced promotion of its products. This enhancement of promotion is nothing new to this profitable business.

In 2001, the company produced a 10 year plan. “Hallmark is stepping up its marketing strategy this year with aggressive national promotions, new product lines (including chocolates and fresh-cut flowers), and an array of sponsorships including the U.S. Olympic Team. The company is ratcheting up its marketing budget to an estimated $50 million and shifting to four national promos per year. The goal for the company is to hit revenues of $12 billion by 2010, requiring a 12 percent growth annually for the next nine years.” (Bnet 2001) The company’s placement of its products through sponsorships is competitive.

Product - The products are many. The company has also expanded its product to include a specific business line of greeting cards. “Hallmark Business Expressions helps businesses cultivate relationships using greeting cards to communicate with key customers, prospects, employees and donors. Serving a wide variety of companies, from the Fortune 100 to small businesses, Hallmark Business Expressions provides distinctive ways to stay in touch and make a lasting impression. The company offers a full line of Everyday and Holiday greeting cards for businesses and a variety of personalization and mailing services” (Bnet 2006) this line is an ...

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