...Up In the Mix: The Four P’s Abstract Marketing is an integral part of the success of any business. The “Marketing Mix,” otherwise called the “Four P’s” include Product, Price, Place, and Promotion, and outline the fundamental requirements for a business to produce revenue. Firstly, a business needs to have a product, good or service from which to build their company. Secondly, the product has to be reasonably priced and be of lasting quality or value to the consumer for the business to be able to make profits and continue to flourish. Thirdly, products need to be made readily available to consumers and needs to be affectively distributed to meet the demands of the consumer. Lastly, the consumer needs to be made aware of a product or service through promotion. In utilizing the Four P’s, businesses have the fundamental tools to grow a successful company, as is the case with the Unilever subsidiary, Dove. Up In the Mix: The Four P’s Over the course of history the needs of consumers has grown. In an expanding market with growing competition individuals are presented with many companies from which to choose to purchase their various goods and services. In starting any business the basic goals are eventual profit and customer satisfaction. There are essential tools utilized by companies to gain and retain the business of the consumer. These essential tools are part of the “Marketing Mix” and are referred to as the “Four P’s.” The Four P’s include Product, Price, Place...
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...Marketing Mix Marcos Moreno Marketing Mix Organization's success follows a marketing plan, process and strategies to achieve maximum product awareness and make their product or service in the top of any industry to achieve revenues needed to make an organization reach maximum profits. The industry the organization is part of plays an important role too, because depending on the market saturation or not, makes the organization creates a larger plan causing to spend more than in other industries adding additional costs to the final product or service. The marketing mix describes the combination of the four inputs which constitute the core of an organization’s marketing system (Stanton, William J.) Organizations use the elements of the marketing mix (product, place, price, and promotion) to outline the marketing plan, goals, and strategy to follow. The marketing mix is the instrument to reach the marketing goals. The marketing mix are interrelated, because of the decisions taken in one area usually affects the other. The product mix is the actual article or substance, is the first element. The product must satisfy consumer needs. It includes the physical product, services, branding, packaging, planning and developing the right products, modification and innovations. The price is the actual amount the organization sells their final product or services which affects the volume of sales. It includes pricing objectives and policies, price fixation, discount policy, concession...
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...Topic Proposal Form Week 4: Course Project Outline Week 7: Final Report Week 8: PowerPoint Presentation The 4 Key Objectives of this Project: 1. Demonstrate a good understanding of a typical marketing problem, through a clear identification of the problem and careful analysis 2. Application of marketing concepts associated with the marketing mix, branding and communications 3. Provision of implementation steps that are sufficiently clear and detailed for effective execution (- would your plan work?) 4. Presentation of your work in clear, compelling and relevant documents The Course Project The course project will involve you in developing an integrated marketing communications (IMC) plan for a brand of your choice. Integrating marketing communications entails identifying a brand message and then conveying that brand message through a series of touch points that are relevant to the target customer. The figure presented in the Week 1 lecture captures the steps involved in developing an IMC plan—the brand is the central concern around which the IMC plan is developed. Early in the process, we establish who the customer is, what the customer wants, where the customer is, and then we think about how we will reach the customer in the space they are in, with what message, and which media. PLEASE NOTE THIS IS NOT A MARKETING PLAN OR A BUSINESS PLAN - The IMC plan focuses on what we traditionally refer to as the Promotion P., and what we are now viewing as Communicating...
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...15 talks about the role of promotion in the marketing mix, the elements of the promotional mix, the communication process. The communication process has several steps, the goals and tasks of promotion, the AIDA concept and its relationship to the promotional mix, the factors that affect the promotional mix and the concept of integrated marketing communications. First, the role of promotion in the marketing mix. Promotion is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response. Promotional strategy is the plan for using the elements of promotion-advertising, public relations, sales promotion, and personal selling-to meet the firm's overall objectives and marketing goals. Based on these objectives, the elements of the promotional strategy become a coordinated promotion plan. The promotion plan then becomes an integral part of the total marketing strategy for reaching the target market along with product, distribution, and price. Second, the elements of the promotional mix. The elements of the promotional mix include advertising, public relations, sales promotion, and personal selling. Advertising is a form of impersonal, one-way mass communication paid for by the source. Public relations is the function of promotion concerned with a firm's public image. Firms can't buy good publicity, but they can take steps to create a positive company image. Sales promotion is typically used to back...
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...………………………1 Executive Summery………………………………………………………….……………………1 Background of the Company……………………….…………………………………………1 Standardization and/or Adaptation in Toyota…………………………..……………1 Marketing Mix: 7ps…………………………………………………………………..……………1 Standardization or Adaptation of Toyota’s Products……………………1 Standardization or Adaptation of Toyota’s Prices…………………………1 Standardization or Adaptation of Toyota’s Promotions……….………2 Standardization or Adaptation of Toyota’s Places…………………..……2 Standardization or Adaptation of Toyota’s Physical Evidence………2 Standardization or Adaptation of Toyota’s Processes ……………….…3 Standardization or Adaptation of Toyota’s People……………………….3 Conclusion…………………………………………………………………………………………..…4 2. Definition of Internationalization Process Theory (IPT) .4-5 3.Conclusion………………………………………………………………………………………………6 Conclusion……………………………………………………………………………………………..6 References…………………………………………………………………………………………….6 Introduction: Executive Summery This report will be discussing one of the world’s leading brands; Toyota Motor Corporation’s approach to international marketing, and how the company positions itself in the global market via the marketing mix. We will do this by looking at how Toyota standardizes and adapts different aspects of its marketing mix, and applies them to different regions throughout the global market. We will also be discussing the Internationalization Process Theory in order to better understand Toyota’s strategies in approaching...
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...Marketing Promotion Promotion is one of the four elements of marketing mix (product, price, promotion, distribution). It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision.[ Above the line (ATL), Below the line (BTL), and Through the Line (TTL), in organizational business and marketing communications, are advertising techniques. In a nutshell, while ATL promotions are tailored for a mass audience, BTL promotions are targeted at individuals according to their needs or preferences. While ATL promotions can establish brand identity, BTL can actually lead to a sale. ATL promotions are also d ifficult to measure well, while BTL promotions are highly measurable, giving marketers valuable insights into their return-on-investment. BTL sales promotion is an immediate or delayed incentive to purchase, expressed in cash or in kind, and having short duration. It is efficient and cost-effective for targeting a limited and specific group. It uses less conventional methods than the usual ATL channels of advertising, typically focusing on direct means of communication, most commonly direct mail and e-mail, often using highly targeted lists of names to maximize response rates. BTL services may include those for which a fee is agreed upon and charged up front. \ Marketing promotion Promotional Mix Promotional Mix : Using several different types of communication to support marketing...
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...The marketing mix concept is the first thing I learned in Foundations of Marketing and helped me to understand the rest of the concepts in the book. Throughout the class I learned about product, promotion, price and place (the four Ps) strategies that marketers must combine successfully to gain consumers attention, market share and/or to accomplish the desire marketing goal (to satisfy the consumers’ needs). All successes start with a plan and there is no exception when it comes to marketing; therefore, an organization develops a marketing plan to use as a tool during the marketing process, which involve different aspects of the four Ps. The marketing plan describes the marketing environment and market position of a business, outlines marketing objectives and strategies (such as identifying the product and the target customers, reaching customers, and retaining customers), and identifies how the company will implement and control the strategies. I understand now that creating and strategically implementing a marketing plan is crucial to the success of a business (along with a business plan first). Some start-up companies create good products and expect every consumer to buy them, but after the hype of the product is over many of these companies disappear, why? Perhaps creating and executing a well written marketing plan would help these start-ups to focus its marketing efforts on a target market, resulting in long-term consumer loyalty and business growth. Developing marketing...
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...dear Sir I need a detailed Marketing Plan for a CCTV,Security and Communication Industry,kindly email me with your marketing plan, Thanking you medium-sized and large organizations The main contents of a marketing plan are:[4] 1. Executive Summary 2. Situational Analysis 3. Opportunities / Issue Analysis - SWOT Analysis 4. Objectives 5. Marketing Strategy 6. Action Program (the operational marketing plan itself for the period under review) 7. Financial Forecast 8. Controls In detail, a complete marketing plan typically includes:[4] 1. Title Page 2. Executive Summary 3. Current Situation - Macroenvironment * economy * legal * government * technology * ecological * sociocultural * supply chain 4. Current Situation - Market Analysis * market definition * market size * market segmentation * industry structure and strategic groupings * Porter 5 forces analysis * competition and market share * competitors' strengths and weaknesses * market trends 5. Current Situation - Consumer Analysis [5] * nature of the buying decision * participants * demographics * psychographics * buyer motivation and expectations * loyalty segments 6. Current Situation - Internal * company resources * financial * people * time * skills ...
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...decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (place, promotion, and product), and discuss how the lemonade stand should be branded utilizing this marketing mix (Chapter 13). For our company to continue being successful at what we do, we have to consider a branding strategy that would make sure the location and product are communicated properly and are easy to remember for our target audience. We have discussed one of the major components of a marketing mix in our previous paper and it obviously plays a big role in a branding strategy. People feel a certain way when they are buying a product at a certain price point assuming the quality is up to the standard. The location of the lemonade stand is most likely the most important part of the branding. To brand this business we plan on using concentrated marketing that will focus on specific customers. This will allow us to deliver exactly what we want and when we bring new ideas the customers will already know what to expect. If we succeed, we will be able to charge a premium in the market because the market knows why we are better and won’t hesitate to pay a little more for it. • Opportunities for new locations. Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations (Chapter 15). Expanding a successful business seems like a great idea...
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...Article Review: McDonald and Leppard (1993) The Marketing Audit The Marketing Audit Model Any marketing plan will only be as good as the information on which it is based, and the marketing audit is the means by which information for planning is organised. A marketing audit is a systematic, critical and unbiased review and appraisal of all the external and internal factors that have affected an organisation’s commercial performance over a defined period. By providing an understanding of how the organisation relates to the environment in which it operates, the marketing audit enables management to select a position within that environment based on known factors. Any organisation carrying out an audit will be faced with two kinds of variable: those over which if has no direct control and those over which it has complete control. The former include economic and market factors, while the latter usually concern the organisation’s resources, or operational variables. This suggests that the marketing audit should be structured in two parts: * External audit—the uncontrollable variables (business and economic environment, the market, the competition). * Internal audit—the controllable variables (organisation’s strengths and weaknesses, operations and resources in relation to the environment and competitors). Chapters 1—6 McDonald and Leppard’s The Marketing Audit Model is a comprehensive set of exercises that a company can go through to develop insight into all aspects...
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...assignment. BRANDING STRATEGY In Part I, you decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (place, promotion, and product), and discuss how the lemonade stand should be branded utilizing this marketing mix in this section. Draw upon Chapter 13 to support your points, and compose your response in complete sentences with APA citations where applicable. For this section and all sections in which research is incorporated, please keep the following in mind: An in-text citation uses the following format: (Author’s last name, year). It should appear at the end of the sentence in which information gathered from your text appears. Be sure to place quotation marks around any material that comes word for word from your source. When directly quoting, you must also include the page number in your in-text citation: (Author’s last name, year, p. #). Here is an example: (Williams & Tollet, 2008, p. 49). OPPORTUNITIES FOR NEW LOCATIONS Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations in this section. Reference Chapter 15 for support, and compose your response in complete sentences with APA citations where applicable. PROMOTION PLANS You have a $ 10,000 budget to promote your stand in the local community....
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...assignment. BRANDING STRATEGY In Part I, you decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (place, promotion, and product), and discuss how the lemonade stand should be branded utilizing this marketing mix in this section. Draw upon Chapter 13 to support your points, and compose your response in complete sentences with APA citations where applicable. For this section and all sections in which research is incorporated, please keep the following in mind: An in-text citation uses the following format: (Author’s last name, year). It should appear at the end of the sentence in which information gathered from your text appears. Be sure to place quotation marks around any material that comes word for word from your source. When directly quoting, you must also include the page number in your in-text citation: (Author’s last name, year, p. #). Here is an example: (Williams & Tollet, 2008, p. 49). OPPORTUNITIES FOR NEW LOCATIONS Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations in this section. Reference Chapter 15 for support, and compose your response in complete sentences with APA citations where applicable. PROMOTION PLANS You have a $ 10,000 budget to promote your stand in the local community....
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...decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (place, promotion, and product), and discuss how the lemonade stand should be branded utilizing this marketing mix in this section. Draw upon Chapter 13 to support your points, and compose your response in complete sentences with APA citations where applicable. For this section and all sections in which research is incorporated, please keep the following in mind: An in-text citation uses the following format: (Author’s last name, year). It should appear at the end of the sentence in which information gathered from your text appears. Be sure to place quotation marks around any material that comes word for word from your source. When directly quoting, you must also include the page number in your in-text citation: (Author’s last name, year, p. #). Here is an example: (Williams & Tollet, 2008, p. 49). Opportunities for New Locations Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations in this section. Reference Chapter 15 for support, and compose your response in complete sentences with APA citations where applicable. Promotion Plans You have a $ 10,000 budget to promote your stand in the local community. Please outline two or three ways you could promote this business...
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...maQuestion 2 Marketing Communication Plan for Kiara Designs By [Your Name] [Instructor’s Name] [Institution’s Name] [Institution’s State] [Date] Report Overview This report serves as a digital communication plan for a fictional fashion retailing brand named, Kiara Designs. This plan will help marketers achieving organizational goals of Kiara based on information at hand regarding online marketing and shopping trends in Pakistan. Throughout this report, it is made sure that the digital marketing goals suggested to the brand are: | Smart | Specific | Measureable | Attainment | Realistic | Timely Company Details Established back in 2013, the brand Kiara Designs fall under the category of Apparel/Lifestyle Brands. Its primary products include clothes, bags, phone pouches, shoes and other related items. Each creation at Kiara is a piece of art, inspired by the desire to introduce Pakistani crafts to the upscale local and international market. The key collections are for women who aspire to be different from the crowd. The organization manufactures items related to apparel category. All our items are hand crafted, hence providing job to underprivileged women in Pakistan. Kiara’s Brand Standing Analysis of Kiara Designs as a brand depicts the company has following mission vision and values: Mission To promote Women Empowerment & "Made in Pakistan" globally Vision Fashion with a cause, as every dress we sell can help change a woman's life. Kiara...
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...Business Summer2015 COURSE OUTLINE MKT 201: Principles of Marketing Section – 2, 5 [“Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.” ― Philip Kotler]. |Section |DAYS |TIME |Room No | |2 |Mon & Wed |09:30 - 10:50 |UB20203 | |5 |Mon & Wed | 03.30 - 04.50 |UB20203 | Instructor: Rahma Akhter Office : UB20605 E-mail : rahma.akhter@bracu.ac.bd Phone : 01817530917 Consultation Hours |DAY |TIME |ROOM |HOURS | |Sun & Tues |12:30-01:50 |UB 20605 |3 | |Sun & Tues |02:00-03:20 |UB 20605 |3 | |Mon & Wed |11:00-12:20 |UB 20605 |3 | |Mon &Wed |12:30-01:50 |UB 20503 |3 | I. RATIONAL: This course introduces the students to the world of marketing. Starting off with the key concepts of marketing, the course is also a survey of the marketing function of the organization, including the marketing environment and target markets, marketing strategy with emphasis on the marketing mix and social and ethical responsibilities...
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