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Marketing Mix with Company Example

Describe the 4 P's of a Marketing Mix: products, pricing, distribution and promotional strategies. Give a company example.

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A marketing mix, also known as the "four P's", has four rudiments: products, pricing, distribution and promotional strategies. A marketing mix assists in providing and developing value to consumers. The principal undertaking in marketing is to amass a marketing mix. Only in assembling a marketing mix can a business implement their marketing tactics. Operating a marketing mix entails numerous decisions regarding the elements of the marketing mix; products, pricing, distribution and promotional strategies. Decision-making skills are also compulsory for the connection between these elements. These formed decisions structure the fundamental ingredients of marketing strategies. However, marketing managers must continually revamp their marketing mix to meet the demands in the ever changing fundamentals of the Four P's. (Bovee, Thill & Mescon, 2007)
Basic marketing mix breakdown of the Four P's:

Products: "Goods or services used as the basis of commerce". A range of measurement associated with products such as: name brands, quality, packaging, style and functionality must be completed. (Bovee, Thill & Mescon, 2007)

Pricing: "The amount of money charged for a product or service". Pricing is set only after consideration of ebit and bottom line and investigation of competitors pricing. Pricing includes financing, retail/wholesale costs, discounts and pricing discrimination. (Bovee, Thill & Mescon, 2007)

Distribution: "Marketing channels, the systems used in moving goods/services from producers to consumers". These utilities entail distribution channels via logistics, transportation and warehousing. (Bovee, Thill & Mescon, 2007)

Promotional Strategies: "Extensive mixtures of influential ...

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A marketing mix, also known as the "four P's", has four rudiments: products, pricing, distribution and promotional strategies. A marketing mix assists in providing and developing value to consumers. The principal undertaking in marketing is to amass a marketing mix. Only in assembling a marketing mix can a business..........

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