...Marketing Mix Paper Alyce Shelton MKT/421 December 5, 2011 Instructor: Susan Craver Marketing Mix Paper The key to business success is smart marketing. Today’s mega-businesses consistently seek to develop unique products, use multiple combinations of marketing techniques, and reach new consumer targets. Verizon Wireless currently operates the world’s largest wireless cell phone network, with customers in over 150 countries. The company has clearly demonstrated good use of the marketing mix, and will be used as an example of how the elements of this mix can benefit an organization. Marketing Mix Defined The marketing mix can be defined as the classification phrase to describe organizational choices for development of effective marketing strategies. The term was introduced in 1953 by Neil Borden, former president of the American Marketing Association (AMA). In 1960, Jerome McCarthy added specific elements to further define the marketing mix, known as the 4 P’s: product, price, place, and promotion (Investopedia, 2011). Product Although it is generally thought of the tangible, physical entity that is bought or sold, a product can also be broken down into three levels: 1. The actual product as just described 2. The core product, which is the benefit of the physical product that makes it of value to the buyer 3. The augmented product, which is the added value to the product. An example of this would be a warranty. (Marketing Teacher, 2000-2011) ...
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...Marketing Mix MKT/421 October 28, 2013 The marketing mix is an easy concept that some businesses forget to incorporate into their strategy to make them successful. The marketing mix is as simple as putting the right product in the right place, at the right time, and at the right price. If your company or organization can create a product that a specific target audience wants and you are able to accomplish a few key items then the product will more than likely be productive. The key elements involve having the product available where the target audience frequents to purchase items. The price of the product or service must be comparable to other like items or products on the market. You must have the product or service available during a time when consumers want to purchase the item. It doesn’t matter if you have the best Christmas ornaments ever made if they are available in May. The target audience for those sales does not want to purchase that product then. Timing of the item or service is a key element for success. If you put all of the key elements into play then you’re on the path to success. The marketing mix sounds like it would be a simple concept to implement but the truth is that it takes a lot of research and hard work to accomplish this task successfully. The marketing strategy involves researching what the consumers want and also identifying where they shop for those items. As mentioned earlier part of the marketing mix is putting the item in the right place...
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...Marketing Mix Lakeshia Williams MKT 421 Allen Hopkins Marketing Mix In an organization marketing managers make decision as part of developing the marketing strategy. The marketing management process consists of planning activities, directing the implementation and controlling. This is expected of the marketing manager. The planning that a marketing manager does is considered a marketing strategy. The marketing manager has to determine the target market. The target market is the type of customers that product is for. For example, Chuck E. Cheese is a place for kids to have fun. So Chuck E. Cheese target market is kids. The marketing mix everything to do with the marketing strategies. Marketing mix this the controllable variables that an organization put together to satisfy the target market. When developing the marketing mix there are four elements product, place, price and promotion. When these four elements are used correctly and adjusted to meet the needs of the organization, it will bring the income that organization was looking for. The four Ps are also considered marketing activities that is a part of the marketing mix. Each element of the marketing mix work hand in hand. The elements of the marketing mix focus on the customer which makes all elements equally important in the marketing mix. The first element of the marketing mix is product. A product is consider a physical good, a service, a feature, benefits, quality level, accessories, installation, instructions...
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...that expenditures can be cut at will, one that cannot be cut easily, thanks to their multi-year contract, are cell phone bills. A recent survey by CTIA- the Wireless Association found that 285 million Americans are mobile subscribers, which translates to about 91% of Americans. The same survey found that revenues in 2009 totaled nearly 150 billion dollars, with an average monthly bill of $48.16. (Association, 2009) All those numbers have spiked the interest of the folks at Wal-Mart, who recently unveiled their own brand of mobile phone service, Straight Talk. However unlike most of the competition Wal-Mart is offering a simple two plan, no contract service that is sure to draw customers looking to save money and remove the long-term contracts from around their necks. Straight Talk has one plan for $30 a month that comes with 1000 minutes, 1000 text messages and 30 megabytes of data, and the other plan for $45 a month comes with unlimited minutes, text messages, and data. Wal-Mart is seeking a customer base that is one looking for an inexpensive and reliable phone service, and two wishes to remove the restrictiveness of the typical long-term contracts. Wal-Mart has used the marketing matrix to successfully launch their new phone service. The marketing matrix (often referred to as the four P’s) is outlined below. Product Strategies- the heart of the marketing mix, the starting point, is the product offering and product strategy. It is hard to design a place strategy, decide...
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...Marketing Plan Phone Zone (One Stop Shop) Nidal Maali Devry University (Keller School of Management) November/2013 1.0 Executive Summary Phone Zone (One Stop Shop) is a premier cell phone shop that concentrates on providing state of the art services regarding all cell phone needs from A to Z. such as Activation to your choice of any phone service provider using the latest technology of flashing or unlocking, Phone Zone will also offer customers with a quick fix to most major issues in software and hardware like system restore, application updates, screen replacements or charging ports fix and much more. Repairs that normally take days, would only take minutes or few hours in most cases, under the same roof without having to ship phones out of town for repair like what all major phone companies do especially for major repair like screen replacements . All that will have a lot to do with customer time and convenience, in some incidence frustrations and disappointment when customer left without phone for long hours or some time days. Phone Zone will be selling to individuals as well as business. While there are many different Competitors in the market, now they are larger in corporate setting and size but much less Flexible when it comes to services and quick repair. Phone Zone will be able to meet customer Demands through superior technical IT supports, customer service, quality products and most Important a quick fix and repair with 100% satisfaction. Local market...
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...understand this behavior so that they can adjust their marketing strategies to increase their brand loyalty and profit. There are social, cultural and psychological factors that influence these behaviors. Some social factors include lifestyle, personality, family, peers, and life roles. The psychological element includes attitude, perceptions, beliefs and motivation. Some cultural factors include basic values, ideals and behavior. When a business is going to “go global”, they need to understand their target audience and interpret their buying behavior. Apple iPhone in Japan case study In 2008, Apple released the latest version of the iPhone. The release of the iPhone did well in most places except in Japan. Apple had estimated on selling a million units there but had later changed that estimate to 500,000. There consumer behavior in Japan was much different from the behaviors of other countries. These other markets were happy to welcome the new iPhone and all of its capabilities, but the people in Japan were not impressed. In the case study of Japan to Apple’s iPhone: “No Thanks”, there was a hard lesson learned by Apple. It is fair to say that they did not do their research on Japan and the need for the iPhone. First there is cultural opposition because Japanese have high, complex standards when it comes to cell phones. The iPhone offered the 3G access which was nothing new to the Japanese. Their existing cell phones already had 3G for quite some time. Another issue is that...
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...Cellular phone has become such a vital necessity if our day to day life that we can not spend a single day without it. In the current scenario of today’s telecom sector, we find some names everywhere and their activities are touching our lives. The name of the cellular operators like GrameenPhone, AKTel, Banglalink, and Citycell & Teletalk is expanding with their activities to gain their respective goals. To execute their goals accurately, they adopt several marketing strategies. In our report we have focused the vital business strategies from different viewpoints of GrameenPhone. From this analysis we have able to identify their process of capturing different generations and the key factors of their market acceptance. From this study we are able to know about market segmentations, positions, marketing mix, SWOT analysis and various special features of GrameenPhone. Then we have discussed about the competitive advantage of the company. From our discussion we have found that grameen phone is the market leader, banglalink is the market challenger, AKTEL is the market follower and Citycell is the market nicher. Then last of all we have analyzed the SWOT analysis. In our SWOT analysis we have tried to discuss about the strength weakness opportunities and treats as broadly as possible. Then we have discussed about the marketing mix strategies. Marketing strategies are the strategies of each company with 4ps that is product, price, place and promotion. We have tried to discuss...
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...AutoNation: Now Offering Navigational Service Plans and Agreements Cornelius L Davis (D01407581) Keller Graduate School of Business University Marketing Management MM522 Professor Lynn Szostek 09/11/2011 AutoNation: Now Offering Navigational Service Plans and Agreements Executive Summary AutoNation hired our firm, Cornel’s Strategic Marketing Incorporation to develop a marketing plan to sell global positioning systems (GPS) and offer an additional service program to service GPS systems. Cornel’s Strategic Marketing Incorporation has been in business since 1956 and has provided marketing plans to all types of businesses with great success. The following market plan sets the foundation to a successful project deployment. AutoNation is the top automotive retail industry with a strong brand name. Applying a new service for GPS systems will enhance the operation and provide an extra service to its customers. The additional service is in-line with AutoNations mission objectives. The GPS system is a hot commodity that gives customers an additional feature and benefit. Establishing a partnership with the top GPS manufacturers (TomTom, Garmin, and Magellan) increases the success rate of the marketing plan. Then the additional servicing programs of extended warranty, replacement program, upgrade program, installation, and set-up gives an added incentive with competitive pricing. Strategic development of the plan identified strengths and weaknesses. The strengths are magnified...
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...Marketing Mix impending * Product * Price * Place * Promotion Outrageous crave Product life cycle (4 stages) * Intro * Growth * Maturity * Decline thrill Perceptional Map Maserati nuclelyptus New Product Launch Marketing Plan The purpose of this assignment is to create a marketing plan to launch a new product for both the domestic and international marketplace. Kotler & Keller define the marketing plan as “the central instrument for directing and coordinating the marketing effort” (Kotler & Keller, 2012, p36). This plan will include the following components: market need, market growth, SWOT analysis, potential competition, product offering and product definition, product identification, justification for choosing this product, and a 10-question survey. Market Needs According to research, young adults are the most attractive segment among marketing consumers both in terms of its size and its multibillion dollar purchasing power (Awan, M. 2014). The youth culture has been held up as the prototypical example of a global segment. They are reported to be the world biggest adopters of mobile technology, but limited research is available regarding segmentation. Therefore, there is a strong need for more segmentation research in the cell phone market, especially among the young adults since this age group is driving the market to new directions and uses. Market Growth According to the Cellular Telephone Industries Association...
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...AT&T Mobile Phone Service AT&T wireless is a business that delivers mobile phone and other wireless services to myself and my family. A mobile phone enables people to make and receive telephone calls over a radio link while traveling around a wide range of geographic areas. In addition to telephone services, mobile phones also enables a person to use a wide variety of other services such as text messaging, multi-media messaging, email, internet access, business applications, photography, gaming apps, and Bluetooth which can also be called a smartphone. AT & T use the products they offer, the price for services, the place of distribution, and how they promote their service to market their business and remain successful. AT&T provides a wide range of fast speed wireless cell phone service that no other company as yet been able to compete with from my point of view. It is a blend of tangible and intangible services. The AT&T brand attracts many consumers because they have always upheld their reputation and trademark by standing behind their product and services while providing quality service. “Strategy, structure, and creative approach are strategically planned to achieve engagement with the target market while supporting the brand narrative” (White, 2012). Shopping for wireless service and the right cell phone require high investment and it is a needed service. AT&T brand leadership allows them to set their prices higher than their competitors. They also...
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...GP’s Management G P’s management and distribution system is quite similar to the other players in the industry. The following list is the management section of GP, but the functions of the managers are not explained in detail. Since this report focuses on the Sales and Distribution of GP, the functions of those managers are explained later in the report. Figure: Organogram of GP Overview of the Telecom Market Telecommunication is both an industry and an infrastructure, which helps other infrastructures to grow. Absence of good telecommunication facilities deters investments in other sectors of the economy. In order to enhance the investment in the telecommunication sector, the government has been pursuing the policy of raising the public sector allocation and attracting private sector investment by privatizing certain services e.g. rural telecommunication, cellular mobile service, paging and radio trunking services etc. Current Scenario The most prospective and booming mobile telephone has brought about many positive changes in the country's economy and socio-economic sectors and has been successful by attracting a huge some of Foreign Direct Investment (FDI) by big telecom giants like Telenor, Telekom Malaysia (TM), Orascom and SingTel in rural network expansion in Bangladesh. The foreign operators in collaboration with their local partners is working on with the infrastructure to widen the very base of mobile subscribers by removing the entry barrier and make the mobile...
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...Droid 2 Marketing Plan Sanford Walker MRKT 5000 Mr. Fox December 15, 2011 Table of Contents Executive Summary……………………………………………………………………………..3 Analysis of company…………………………………………………………………………….3 Company Profile…………………………………………………………………………4 Marketing environment…………………………………………………………………………..4 Competitive forces….……………………………………………………………………4 Politics...………...………………………………………………………………………..5 Economics………………………………………………………………………………...5 Customer segmentation and Target positioning…………………………………………………..6 Droid 2 Marketing Mix…………………………………………………………………………...6 Product……………………………………………………………………………………6 Price and Place……………………………………………………………………………7 Promotion…………………………………………………………………………………7 SWOT Analysis…………………………………………………………………………………...8 Strength…………………………………………………………………………………...8 Weakness………………………………………………………………………………….8 Opportunities………………………………………………………………………………8 Threats……………………………………………………………………………………..8 Recommendations…………………………………………………………………………8 References………………………………………………………………………………………..10 I. Executive Summary The purpose of this report is to provide an analysis of the mobile phone segment of Motorola, Inc., which was separated from the rest of the company as Motorola Mobility Inc. on January 4, 2011. After analyzing Motorola’s financial position and their marketing strategy for their Droid 2 product, it was several opportunities identified for the company to improve their brand and product offering (Motorola, 2010.) The following are recommendations...
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...Course Name: International Business and Marketing Instructor’s Name: Prof. Dr. Britta Bergemann E-mail: britta.bergemann@stw.de Class Time: 2.00PM – 8.00PM 1. Course Description This course looks at international business and marketing topics in theory and practice (case studies). It aims at building students’ awareness of business and marketing mix issues in the global context, and provides the tools to manage products and brands globally. 2. Overview This course offers a framework that allows students to see the big picture. After laying the foundations students will learn about the fundamentals and strategic impact of globalization on today’s business decisions, and how to position, communicate and price products globally. Along the way students will also see how companies are dealing with global marketing issues due to a wealth of case studies and examples. 3. Learning Outcomes Upon successful completion of this course, students will have acquired: An overview of international business strategies An overview of current marketing principles and practice An in-depth understanding of the concepts required for developing and managing global markets An evaluation of the changes that have occurred in the competition for global markets A deeper look at the causes of cultural differences The ability to effectively apply analytical criteria in order to evaluate opportunities of global The ability to take global marketing decisions and manage processes involved...
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...1.0 Executive Summary 123GO is preparing to introduce an automated service backed by cell phone network provider which specially and initially will serve for inter-district bus service providers’ ticket reservation and purchasing. Despite the dominance of Bus Service Providers’ ticketing counter, we believe, we can compete because offering combines exclusive features at a nominal value adding price. We are targeting specific segments in consumer and business markets taking opportunities of offering convenience. Our cell phone based power menu will serve as reservation and purchasing server for tickets of inter-district bus service. The primary marketing objectives of this plan are to achieve first year Dhaka market share of 5 percent and revenue of BDT. 900000. 2.0 Situation Analysis 123GO founded 1 months ago by a survey that in bus ticket reservation and purchasing there is no such service provider that will serve customers through electronic market. Moreover, a finding suggests that currently Shohag Poribahan only serves its reservation through online, but the service is complicated and limited. They don’t allow purchasing ticket online. Therefore, the consumers’ urge for buying and booking bus ticket online specially backed by power menu of cell phone usages is an extraordinary and attractive market to be penetrated. 2.1...
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...Marketing Mix Jermaine Anderson MGT 421 January 22, 2013 Professor Robert Thompson Organizations rely on marketing to get a product new or old, big or small on the market to sell. If done correctly it will lead to a successful organization. One of the key components of a marketer is understanding the different element of the marketing mix. There are four basic elements: price, product, promotion, and place. Throughout this paper we will better analyze these four elements that consist of the marketing mix. Then compare the knowledge from the marketing mix into a real organization. Finally, discuss how each element affects the product as a whole and the organization’s development in its specific industry. Elements of the marketing mix There are four sections of the marketing mix: price, product, promotion, and place. They are called the four P’s and are used for products or service to enter a market successfully. Price considers a feasible amount that would be profitable and still remain a balance with sales. In this section it is important to scan the environment for competitors’ products prices and determine the value from products that are already on the market. Also it is important that the price of the good or service is considered reasonable by the consumers or the product will be rejected and unsuccessful. The product section takes into account the different variables of the product such as: packaging, features, benefits, warranties, instructions, branding, quality...
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