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The Marketing Mix (4 P's)

Elements of Marketing mix

Describe the elements of the marketing mix (product, place, price, and promotion). In addition, select an organization with which you are familiar and describe how each one of the four elements of the marketing mix affects the development of the organization's marketing strategy and tactics. Describe how each element is implemen

Role of research in marketing to develop strategies; evaluate effectiveness : research as a systematic problem analysis, model building and fact finding for the purposes of important decision making and control in the marketing of goods and services. it is the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services

Explain the role of research in marketing. : Marketing research helps a firm take a decision about components of marketing mix: product, distribution, promotion and pricing. The main purpose of the research is to aid marketing management by undertaking systematic gathering and analyzing of information. Include how researc

Global Business - STARBUCKS

For STARBUCKS Describe the main line of business of the company Names four of the countries in which the company operates Explains, in detail, the implementation of the 4P's marketing mix concept by the company including: â?¢ competition â?¢ target market â?¢ product strategy â?¢ distribution strategy â?¢ co

Value and purpose of a marketing positioning statement

What is the value and purpose of a marketing positioning statement? How does the assessment affect the development of the marketing position? How often should the marketing position change or be reviewed? Does it depend on the type of business or customer? Provide examples

Marketing Plan for Netflix

<< Marketing Plan using Netflix >> I need help creating an advertising plan for Netflix. I also need to develop a budget for my plan. Thanks!

6 Simple Strategies for Improving the Decision-Making Process

When you arrived at work, your manager (Mr. Smith) informs you that the board of directors wishes to meet with you. Not knowing what the meeting could be about, you prepare yourself for the worst. At the meeting, the board members tell to you that you have passed all the assignments leading up to the promotion and that you will

Reviewing an Entertainment Venue's Website

Please helps with the following problem. Review this website: A website of my choice is one on a famous Jazz and Blues lounge located in Columbus, Ohio, known as the Vonn Jazz Lounge. Their website's URL is http://www.vonnjazz.com/ Describe, in marketing terms, that company's website strategy in terms of product, price

What Are the Essential Components of a Marketing Plan?

1. What are the essential components of a marketing plan? 2. Can you identify what are the quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness? 3. One of the elements of the marketing mix is price. The decision to reduce the price of a product can be promoted in marketing campai

Qualitative vs Quantitative Marketing Research

Many marketing researchers have their favorite research approaches. Some researchers maintain that the only way to really learn about consumers or brands is through in-depth, qualitative research. Others contend that the only legitimate form of marketing research involves quantitative measures. What are your experience and views

Marketing Core Strategy

The Marketing Mix is the set of decisions about communications and promotion, price, channels of distribution, and customer relationship management. PART 1: General Research 1. Discuss the aspects of the IMC. (The elements of the communication mix include: advertising, direct marketing, sales promotion, publicity/public rel

Calculating breakeven point for two product lines

Please open attached file CH5 for the problem, and also use attached file P5-27A for your solution. Calculating breakeven point for two product lines; margin of safety The contribution margin income statement of Cosmic Donuts for March 2012follows: COSMIC DONUTS Contribution Margin Income Statement For the month of Marc

Website Strategy: Kmart Website Example

Review a website of your choice. Describe, in marketing terms, that company's website strategy in terms of product, price, promotion, and distribution. Some of these marketing mix elements may be more clear than others, so focus on the elements that are most evident. Include the URL address of the site you choose and link the

Over the years, the marketing mix has extended past the popular 4 P's framework of the mix. Theorists have gone so far as to add the 5 P's and the 7 P's of marketing. In addition to the traditional product, price, place, and promotion; people, process, and physical evidence can now be added to the equation. Nevertheless the extended version of the mix is used in the event product developers comprehensive data to incorporate a product within and around communities. Product-"The product is the physical product or service offered to the consumer. In the case of physical products, it also refers to any services or conveniences that are part of the offering. Product decisions include aspects such as function, appearance, packaging, service, warranty, etc."(FacWeb, 2011). The marketing mix revolves around the development, positioning, and implementation of a product. Before an organization can successfully launch a product, they must consider the following components of marketing which includes; product, price, place, and promotion. The beginning stages of the marketing mix is to understand and identify the initial concept of what the organization is trying to achieve and what products will be quintessential in enabling the organization to remain competitive. An organization's life-expectancy will ultimately depend upon what type of products should be launched in the industry. In addition to an organization's product placement strategy is the timing of product placement. An organization must determine if the product is placed in the appropriate time in order to generate the desired income. Many organizations succumb to failure by launching a much needed product at the wrong time. If an organization desires to launch a product at the wrong time chances are the product will no-longer exist, i.e. the product may be pulled from store shelves. Developers must ask the following questions such as; what is the marketplace in need of right now? What products can we offer consumers that will give our company a competitive advantage? Once the organization develops a consensus within the research and development department, the organization can begin to expand on the concept and begin the developmental process.

Over the years, the marketing mix has extended past the popular 4 P's framework of the mix. Theorists have gone so far as to add the 5 P's and the 7 P's of marketing. In addition to the traditional product, price, place, and promotion; people, process, and physical evidence can now be added to the equation. Nevertheless the e

Defining Marketing

Give some direction for a paper on: Define marketing. Include in your personal definition of marketing plus definitions from two different sources. Based on these definitions, explain the importance of marketing in organizational success. Provide at least three examples from the business world to support your expl

Marketing What is the definition of marketing, and given the existence of he marketing concept , why do so many products fail in the market? Marketing has many definitions the enhanced ones focuses on customer direction and fulfillment of customer needs (Kotler, 2009). The two different definitions of marketing and the views of what marketing primarily entails are, first and foremost is the view from The Chartered Institute of Marketing: "Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably." The Chartered Institute of Marketing (CIM, 2009) According to CIM the definition has obtained three important components. In addition to recognizing customer needs, satisfying the customers and expecting future customers (for customer relationship sustainability). Another definition of marketing is "Marketing not only involves selling; it is not a specific action at all. It involves the complete organization. It is the whole business seen from the point of view of the final result, that is, from the consumer" (Schewe and Hiam, 1998). "Products fail as a result of the delicate balance between "risks vs returns, and innovation vs adaptation, retrospective research isn't always a reliable crutch. If there is a lesson for marketers, it is all about doing one's homework, fully understanding that predicting the future is not a science it's a gamble. It may be daunting, but then again, the world would have never seen the likes of Walkman, FedEx, CNN and even LMD all of which were predicted to fail!"(Fernando, 2000). With the medical transport field How does this organization use the different components of the marketing mix? In this particular case which do you believe to be the most important component of the marketing mix? Why?

Marketing What is the definition of marketing, and given the existence of he marketing concept , why do so many products fail in the market? Marketing has many definitions the enhanced ones focuses on customer direction and fulfillment of customer needs (Kotler, 2009). The two different definitions of marketing and the views o

Summarize an article: Consumer Buying Behavior - Marketing to teenagers

Topic: Consumer Buying Behavior - Marketing to teenagers Find an appropriate article on the Internet which relates to this topic. The article can be from any bone fide online business/marketing source. It does not have to be from an academic journal. Read the article and then write a summary of the article, written in Mi

Strategic Marketing Mix for dockers

Present the marketing strategy mix for Dockers by using the following marketing mix: 1. Target Market or Mass Marketing 2. Product assortment 3. Promotion 4. Distribution 5. Pricing Consider ways in which the market for pants is segmented. Comment on the current socio-economic environment. Consider the ease with whic

Perceputal Maps in Marketing

Perceptual Maps in Marketing Please re-write the scenario below in your own words. ------ Scenario In the Thorr Cruiser simulation, there is a need for the creation of a market plan. This need arises because the sales of Thorr Cruiser are falling. The plan is to reposition Thorr Cruiser instead of launching a new mot

The economy, competition, and management decisions on pricing.

Imagine you are the proprietor of Bubba's House of Pork Rinds. While sales of your pork rinds remain strong, you are considering changing your pricing. For one thing, you have heard rumors that Don's Doritos Drive-in may open a branch down the street, right next to your chief local competitor, Paul's Palace of Pringles. Relative

4P's of Marketing Mix

How can companies capitalize on differentiation and positioning strategies using the 4 P's marketing mix?

IE Versus BCG Matrix

Compare and contrast the IE Matrix with the BCG Matrix. Please explain yourself in full and cite sources.

Demographic Analysis for Claritas

Demographic Analysis ii) Visit Claritas using this link: http://www.claritas.com/MyBestSegments/Default.jsp?ID=0&SubID=&pageName=Home iii) Select Free Report from the right hand toolbar. Enter your zip code (or a zip code of your choice). What do you learn about the area you live in? iv) Then, go to http://www.census.g

Iphone opportunity analysis

Create an Opportunity analysis for the Iphone: Include charts, graphs, diagrams, and summaries. Include each of these topics in your analysis: · Opportunity analysis · Product life-cycle analysis · Customer analysis · Target market analysis · Market segmentation response is 822

marketing

You are the marketing manager for Fujiwama Corporation, an electronics company (fictitious) that specializes in cellular telephones. Your company's share of the cell phone market is 3.1% and you are listed as the #9 cell phone manufacturer in terms of overall percentage of the market. The market is dominated by Nokia (22%), Eric

Global Marketing Strategy

Describe IBM;s global marketing strategy Discuss what countries that this company operates Indicate the reason why the company chose a global strategy What would another market entry strategy be for this company for a different country/region Why? words: 1,851