The marketing mix: describe a well-known product everyone would be familiar with and its marketing mix. Provide an analysis on the product's target audience, channels of distribution, promotion methodologies, and any price factors that come into play.
Here's one of the University of Phoenix Online (as the product). Details about the marketing mix, pricing, channels of distribution are described in the paper following.
University of the Phoenix (UoP) is the largest accredited university in the nation that caters to working adults seeking to improve themselves on both personal and professional levels. With the time and physical demands of work and personal life, many are discouraged to return to school in a traditional classroom setting. UoP understands the situation and has designed an online program that would enable working adults to have a well balanced work and personal life and still have the opportunity to pursue their higher education. UoP's main objective is to let working adults realize that there is an alternative to traditional classroom setting which will allow them to achieve their educational goals. Communicating the availability of this option is an extremely important task for both the university and its marketing team.
Since its inception, UoP's Online Program ("UoP Online") has awarded higher education degrees to thousands of working professionals. This is a solid evidence of the effectiveness of UoP's marketing strategy and the effectiveness of the online program itself. With a target market already in mind and an online educational program already in place, UoP's strategy incorporates four fundamental components often referred to as the 4 Ps or Marketing Mix. The strategy should convey the type of product being offered (product), how much it is to obtain the product (price) and where the item can be obtained (place). Promotion is the fourth component which deals with how the other elements are communicated.
According to Charles Sturt University's website, a marketing mix "provides an organizing framework and helps to bring many, more detailed decisions together in a logical fashion." Improved customer service and profitability are direct results of when the marketing mix is effectively used.
Realizing that many working professionals would like to pursue a higher education, UoP saw an opportunity in responding to that unmet need by utilizing internet technology and creating an online educational program (product).
UoP's marketing team understands their responsibility in developing a marketing program which would educate its target market of the ...
The solution has selected the University of Phoenix for its product and the 1300 word, cited solution is a good example of the descripion of the marketing mix.