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Marketing Mix Individual Assignment

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Marketing Mix Individual Assignment
Adrienne Kelley
MKT-421
May 5, 2014

Marketing Mix Individual Assignment
Marketing is essential to the success of a company’s business no matter how big or how small, with the main focus on quality, consumer value and customer satisfaction. The marketing mix is a strategy used in marketing to ensure the primary focus is met on a consistent basis. The four elements of the marketing mix are known as the "Four P's" of marketing. The marketing mix combines these four elements to produce the results it needs to achieve in a specific target market. Many organizations use the four Ps to gain a competitive advantage in the marketplace. (SmallBizConnect, 2014).
The four major components of the marketing mix are explained below: * Product (or Service) * The product is the goods or services that a business sells to their target market. When developing a product or service the company should consider quality, design, packaging, and features of the product or service. * Place * Place refers to the location, distribution channels, methods, and logistics for getting the product or service to the customer. * Price * The amount of money customers pay to purchase the company’s product or service. Price setting must consider the competition in the target market and the cost of the entire marketing mix. * Promotion * The focus of promotion is to acquire new customers, while also retaining current customers. Furthermore, Promotion is communicating the benefits and value of the product to consumers and then persuading them to become customers by using a variety of methods, including direct marketing, advertising, direct selling, and sales promotions (SmallBizConnect, 2014).
The company I chose to discuss is Avon. Avon Products, Inc. is the No. one direct selling company in the beauty,

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