...INTRODUCTION: Marketing is essential factor in the whole processing of the firm. The term ‘Marketing’ can be simple defined, as “meeting needs profitably”. (kotler, et al ,p5,2006). Marketing mix is the most important aspect of the concept ‘Marketing’, which is a set of controllable tools that is used by the company in order to get expected response from the targeted market. (Khan, p 95, 2014) The marketing mix includes the main elements of marketing that is 4Ps, Price, Product, Place and Promotion. In the article by E. Constantinides (2006) ‘The Marketing Mix Revisited Towards the 21st Century Marketing’… tries to present the current standing of the main elements that is 4Ps of marketing. The purpose of presenting this article is to write a critical review. This will involve critically evaluating the journal article and highlighting the main objectives and limitations...
Words: 2079 - Pages: 9
...10/10/13 Marketing mix: Kotler on marketing - MaRS Discovery District Search AAA Resources by topic Workbooks Entrepreneurship 101 Funding Portal Search Tool Workshops 2688 3 Google + 1 1 0 Marketing mix: Kotler on marketing Marketing mix describes the set of tools that management can use to influence sales. The traditional formulation is called the 4Ps— product, price, place, and promotion. From the very beginning questions were raised about the 4P formulation of the marketing mix. Perfume companies wanted packaging to be added as a fifth P. 4P guardians said that packaging is already in the scheme, under product. Sales managers asked whether the sales force was left out because it began with an S. No, said the guardians, sales force is a promotion tool, along with advertising, sales promotion, public relations, and direct marketing. Service managers asked where services were in the marketing mix, or whether they, too, were excluded because the first letter was S. Here the guardians said services are part of the product. As services grew more important, service marketers suggested adding three Ps to the original 4Ps, namely personnel, procedures, and physical evidence. Thus a restaurant’s performance will depend on its staff, the process by which it serves food (buffet, fast food, tablecloths, etc.), and its physical looks and features as a restaurant. Others suggested adding personalization to the marketing mix. The marketer has to decide how personalized to make...
Words: 1270 - Pages: 6
...Lesson 4 Assessment Tool: Marketing Plan Framework This Assessment Tool contains real world examples, guiding principles, practical worksheets, and information that can help you complete a 4E-based marketing plan for your business. This Tool can serve as companion activities for Lesson 4. 4.1. Executive summary: This is a summary of the marketing plan, so it is usually prepared after the plan has been completed. It should summarize: Situation analysis results Marketing goals and objectives Proposed marketing actions (strategies and tactics) to meet goals and objectives Proposed marketing budget and key resources that are necessary to implement the marketing actions Expected outcomes of the proposed marketing actions 4.2. Mission Statement: This statement summarizes the guiding principles for your business. Some example mission statements are shown below with the type of information to be included. The three examples are presented in the way that you can see one from a well-established government organization and two from small businesses like yours. Try one on your own after examining the examples. A. Federal Food and Drug Administration (http://www.fda.gov/opacom/morechoices/mission.html): “The FDA is responsible for protecting the public health by assuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, our nation’s food supply, cosmetics, and products that emit radiation. The FDA is also responsible for advancing the...
Words: 3623 - Pages: 15
...Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational...
Words: 282 - Pages: 2
...Brighton & Hove City, England, 29 – 30 September 2008 Where we are now Good Works and So Do the 4Ps. Sharing Success Stories from the U.S. Nancy Lee University of Washington, Seattle, USA and Social Marketing Services, Inc., USA & So Do The 4Ps ! Washington Washington State State #1 !! #1 WASHINGTON STATE #1 FOUR SUCCESS STORIES 1. 2. 3. 4. Tobacco Cessation Pedestrian Safety HIV/AIDS Testing Litter Prevention FOR EACH STORY Target Audience Behavior Objective Guiding Theory 4Ps Results & ROI TOBACCO CESSATION Situation: Washington State Year 2000: 1 million adult users $1800 taxpayer cost per smoker/per year Target Audience: 70% wanting to quit Behavior: Call the Quit Line Theory: Stages of Change PRODUCT PRICE PLACE PROMOTION Quit counselor Quit plan Quit kit Quit resources PRODUCT PRICE PLACE PROMOTION •Toll Free Number •Free Counselor •Free Quit Plan Kit •Online Calculator PRODUCT PRICE PLACE PROMOTION PHONE 7 days a week 5am – 9pm Message 24/7 WEB SITE Worksheet “Click to Call” button PRODUCT PRICE PLACE PROMOTION Messages Encouraging Understanding Assuring PRODUCT PRICE PLACE PROMOTION Media Channels Television Outdoor Posters Brochures Wallet cards Bar coasters Workplace activities Fax from physician Publicity RESULTS & ROI Seven years later– 100,000th call 13% of callers quit State cost per quit: $830 State savings per quit: $1800/year...
Words: 857 - Pages: 4
...Analysis………………………………………………………………………………………….1 3. PEST Analysis………………………………………………………………………………….………..2 4. Market research………………………………………………………………………………….………2 5. Market Segmentation……………………………………………………………………………………3 6. Marketing Strategies 7.1 Product…………………………………………………………………………………..................3 – 4 7.2 Place……………………………………………………………………………………….…..........4 7.3 Price…………….. ……………………………………………………………………………….…..5 7.4 Promotion…………………………………………………………………………………………..…5 7. Action Plan………………………………………………………………………………………………...6 8. Reference………………………………………………………………………………………………….7 1. SITUATIONAL AUDIT “You’ve been framed” is a fine art gallery and full-service custom frame shop. The gallery is owned and operated by John and Peter. Presently, John and Peter’s picture framing business’s primary focus on customer’s own images framing, which provided 60% of the total sales and contributed 70% gross margin per items. The remaining 40% of total sales are from selling framed and unframed pictures from stock and displays in the shop. This also contributed 50% gross margin per items. As the sales had reached a plateau so that options needed to be considered for further growth. This marketing plan is basically focusing on the expansion on the commercial market in order to reach more customers and orders from businesses. 2. SWOT ANALYSIS The SWOT analysis provides us with an opportunity to examine the internal strengths and...
Words: 1666 - Pages: 7
...The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements. Description: What are the 4Ps of marketing? Price: refers to the value that is put for a product. It depends on costs of production, segment targeted, ability of the market to pay, supply - demand and a host of other direct and indirect factors. There can be several types of pricing strategies, each tied in with an overall business plan. Pricing can also be used a demarcation, to differentiate and enhance the image of a product. Product: refers to the item actually being sold. The product must deliver a minimum level of performance; otherwise even the best work on the other elements of the marketing mix won't do any good. Place: refers to the point of sale. In every industry, catching the eye of the consumer and making it easy for her to buy it is the main aim of a good distribution or 'place' strategy. Retailers pay a premium for the right location. In fact, the mantra of a successful retail business is 'location, location, location'. Promotion: this refers to all...
Words: 367 - Pages: 2
...Marketing Mix “The four P approach has led to a manipulative attitude to people” (Gummesson, 2002:285). “What marketing deserves is new approaches, new paradigms, which are more market oriented” (Gronroos, 2002:140). “We propose that the mix has now reached its vanishing point, and we argue that marketing requires a new paradigm” (O’Malley & Patterson, 2002:50). What is common among the above three quotations is the fact that they are all against the Marketing mix. They also share the common belief that it’s time for a radical change, one where the 4Ps are rejected for a new paradigm. But the importance of the 4Ps is being undermined. Despite its limitations, they still form the base which is being used by modern organizations. This paper attempts to show the importance of the marketing mix for modern marketers and that it cannot be relegated from modern marketing strategy. The paper is divided into six parts. Beginning with the introduction it then moves on to the development of the marketing mix theory. The third part contains the literature review of the mix. The fourth asserts that marketing mix in conjunction with RM and CRM can result in a successful marketing strategy and the fifth uses Lexus as an example to prove this assertion. It ends with the conclusion. What Is Marketing Mix? The Oxford Dictionary of Business and Management’s definition of the Marketing Mix is of “the factors controlled by a company that can influence consumers’ buying of its products” (Anon...
Words: 4449 - Pages: 18
...Marketing International Will Xiaomi succeed in conquering West Markets ? Thèmes des cours 1. Intro 2. Global + Local = Glocal a. Glocalization (a portmanteau of globalization and localization) is a term that describes the adaptation of international products around the particularities of a local culture in which they are sold. b. glocalization broadly involves the altering of an overarching brand or product so as to better appeal to customers within a specified country or region. This phenomenon is the relative inverse of Americanization and the suppressing of local preferences in favor of providing goods and media whose content has been dictated by foreign entities. Glocalization can also involve the use of culturally friendly media to encourage the acceptance of foreign products among a local audience c. Global is the body of octopus, it “touch down” on to the local surfaces by its forces, which function as its legs 3. International Product & Brand policy 4. Price and Places opportunities 5. Communication & Promotion 6. Digitalization – Targetin & Tools 7. Alternative Business Model Questions ? Comment XIAOMI adapte-il ses produits à l’international ? Quelle est la stratégie de distribution de Xiaomi ? Quelle est la stratégie en termes d’offre produits ? o Grosse diversification sur le hardware o Offre software ? Quelle est la stratégie marketing en termes de médias ? o Keynotes & press Plan de la présentation Design : en fond de chaque slide...
Words: 770 - Pages: 4
...exchange under the symbol TSLA. In the first quarter of 2013, Tesla posted profits for the first time in its ten year history.Tesla Motors first gained widespread attention by producing the Tesla Roadster, the first fully electric sports car. The company's second vehicle was the Model S, a fully electric luxury sedan.Tesla also markets electric power-train components, including lithium-ion battery packs, to automakers, including Daimler and Toyota.Tesla's CEO, Elon Musk, has said he envisions Tesla as an independent automaker, aimed at eventually offering electric cars at a price affordable to the average consumer. (http://en.wikipedia.org/wiki/Tesla_Motors) 2. The 4Ps and discuss the marketing management orientation(s) that guide the company’s marketing strategy. In general there are 4Ps really affecting marketing strategies of any company. Target market is related to many factors like Product, Price,...
Words: 1568 - Pages: 7
...undertaking research and reporting on the results of such inquiries. e) The Institute, singly or in collaboration with others, shall bring to bear the world's vast store of knowledge in science, engineering and other realms on the problems of the industry and the community in order to make the Philippines and the world a better place. MISSION a 1. To prepare students for a professional Engineering Management career including a vital role in the overall management of organizations with an orientation to manufacturing, engineering, technology or production. 2. To provide students knowledge and skills in the areas of management of technology, product and process, quality, organizational management, operations management, program management, marketing and finance. 3. To educate...
Words: 1774 - Pages: 8
...TRAILZON-Virtual Fitting Room Introduction TRAILZON – Virtual Fitting Room is a totally new product made by the group for Amazon. Group members made a set of marketing strategies for it. First, the company’s information and the product’s scenario will be introduced generally. Considering the future launch and success of ‘TRAILZON’ when it goes to market, this report will justify these proposals and discuss the further strategies and relevant issues based on the current propositions by the group. I. Recap, amendments and strategies Brief recap of ‘TRAILZON’ Amazon is an American electronic commerce company and it is one of the biggest online shopping retailers operating in over 14 countries all over the world (Barney, 2011). According to Cowen (2015), the garment and accessories sales occupied about seventy percent of the total income in Amazon in 2015. Thus, TRAILZON - Virtual fitting room was put forward to benefit more from the garment and strategies were made in order to achieve marketing target. TRAILZON is an online shopping app which enables users to fit clothes virtually. The target market of TRAILZON includes fashion brands, online shops and mobile users in the UK. TRAILZON will make profit by selling TRAILZON to fashion brands, sharing profits with application stores and selling clothes directly to customers so all retailing is virtual. As to the promotion, creative advertising will show on social media to make target market aware of this application...
Words: 3230 - Pages: 13
...Chapter 2: *Explain the 3 levels of the marketing environment, and how each could affect a business *Describe a SWOT analysis and its components *Outline several common metrics and why they are used *(Ch 3) Discuss the 2 different types of data, and 2 main research approaches Slide 3 Marketing MIX: 4ps product price place promotion Slide 4 Lots of competitors are coming in for Facebbok Need to use SWOT analysis in our plan Slide 5 1. Macro-Environment 2. Micro-Environment Slide7 Macro-Environment Include Political e.g.: china and Japan dispute) Legal, Sociocultural, taxation rates, firms/industry subsidies,etc ECONOMIC: inflation, interest rates, disposable, income, consumer confidence, exchange rates. SOCIOCULTURAL: trends in population, attitudes, behaviours etc (eg rise in organic wine sales) (Government policies, increasing number of single household). Wine is included in sociocultural because its legal and its alcoholic, luxury TECHNOLOGICAL: advances in products, distribution, promotion etc (eg decline in print media) LEGAL: laws and regulations eg Trade Practices Act, Privacy Act, etc. (advertising code) Slide 8 Slide9 Internal Environment The 4ps includes organization, process and people Slide 10 SWOT ANALYSIS Used to frame your strategy development. In relation to a product/company, examine its Strengths: Internal, controllable Weaknesses: Internal, should be improved Opportunities: External, could provide future...
Words: 292 - Pages: 2
...The 4P Classification of the Marketing Mix Revisited Author(s): Walter van Waterschoot and Christophe van den Bulte Source: Journal of Marketing, Vol. 56, No. 4 (Oct., 1992), pp. 83-93 Published by: American Marketing Association Stable URL: http://www.jstor.org/stable/1251988 . Accessed: 21/10/2013 10:06 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . American Marketing Association is collaborating with JSTOR to digitize, preserve and extend access to Journal of Marketing. http://www.jstor.org This content downloaded from 130.88.179.25 on Mon, 21 Oct 2013 10:06:41 AM All use subject to JSTOR Terms and Conditions Walter van Waterschoot & Christophe Van den Bulte The Classificationthe of Revisited MarketingMix 4P McCarthy's 4P classification of the marketing mix instruments has received wide acceptance in past decades. In recent years, however, increasing criticism has been voiced, among other reasons because of its inherent negative definition of sales promotion and its lack of mutual exclusiveness...
Words: 8565 - Pages: 35
...Arkajit Medya (1527205) The effect of marketing mix in attracting customers: Case study of Saderat Bank in Kermanshah Province Authors: Bahman Saeidi Pour, Kamran Nazari and Mostafa Emami Vol. 7(34), pp. 3272-3280, 14 September, 2013 DOI: 10.5897/AJBM12.127 ISSN 1993-8233 © 2013 Academic Journals http://www.academicjournals.org/AJBM | African Journal of Business Management | Accepted 24 November, 2012 Introduction & Structure of the paper: Progress and transformation in industries, institutions and companies has to do with their ability to deal with problems, activities, as well as competitors. Each institution should adopt policies with respect to long-term vision, mission, goals, opportunities, arrangements and using internal facilities of an external to develop comprehensive marketing, because in today's global business environment there is increasing complexity, rapid change and unexpected developments. Banks and financial markets have become competitive in recent years with the development of science. The task of marketing manager is to analyze, plan, implement and control the marketing program effectively by studying the market and applying marketing mix variables also which is also called marketing management. Today advertisement is also a part of marketing management. Marketing management also includes marketing mix. What is marketing mix? Marketing mix is a set of controllable elements of marketing strategies and tools of a company and combining...
Words: 914 - Pages: 4
