The Marketing Mix University of Phoenix MKT 421 9/20/09 The marketing mix is one of the most important elements of an effective marketing campaign. Its elements are the basic components of a marketing plan. Also known as the Four P's, the marketing mix elements are price, place, product, and promotion. The marketing mix concept is simple; each of the four elements plays an important part in the success of the marketing plan. Similar to a good recipe, too much of one ingredient and not enough
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THE PROMOTIONAL MIX A company’s total promotion mix also called its marketing communications mix; consists of the specific blend of advertising, public relations, personal selling, sales promotion, and direct marketing tools that the company uses to persuasively communicate customer value and build customer relationships. THE FIVE MAJOR PROMOTION TOOLS The Nature of each Promotion Tool ADVERTISING Each promotion tool has unique characteristics and costs. Marketers must understand
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Table of content Page no (P1- Marketing definition----------------------------------------------------------------------- 2 (P2- characteristic of marketing oriented organisation. ------------------------------------ 2 (P3- Marketing concept. ----------------------------------------------------------------------- 3 (P4- Benefits & Costs of a Marketing Approach ------------------------------------------ 4 (P5- Micro and Macro environment factors affecting business. --------------------------
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Marketing Mix Fontineese Green MKT/421 November 11, 2013 Jeff Lewis Marketing Mix Marketing mix is defined as a planned mix of the controllable elements of a product’s marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the products customers, while generating optimum income (Business Dictionary.com, 2013). When a company is marketing their products, it is useful to reduce
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organization is shifting from traditional marketing procedures. They are using more advanced marketing tools and techniques to capture value from the customer. After completing this report, the writer is knowledgeable of understanding marketing strategies and other marketing communication strategies for building customer relationship in order to capture value from them. Contents Executive Summary 2 Introduction 4 Hotel Cafe Royal 4 2 Task-1 Marketing strategies for hospitality and tourism
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services. The field of marketing was established to aid the process of this idea of selling. Selling has several different interpretations but today’s business environment focuses in on creating, communicating, and delivering value to the customer. Without a transfer of value, a customer doesn’t feel welcomed and may shy away from a specific business. A firm’s honesty plays a major role in establishing a customer base and retaining one. This idea of ethics in the field of marketing is incredibly important
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§Promotion: The coordination of marketing communication efforts to influence attitudes or behavior §Marketing communications purpose: –Inform –Remind –Persuade –Build relationships §Integrated marketing communication (IMC): Process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences –Consumers see the variety of messages from a firm as a whole The Communication Model §Elements of the model:
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2.2 MARKETING STRATEGIES Marketing has assisted in building organizational profitability through defining and maintaining customer satisfaction. Its concept has aided firms to achieve success in competitive markets throughout the world. To be successful in marketing in which economic growth has leveled and there exists many competitors and new innovations a well-developed marketing strategy is required. This strategy considers an organization’s mission and vision, parameters of products and anticipated
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Introduction Retail can be defined as the sale of physical goods, merchandise and any services to the consumers for their personal, family or household for direct consumption. In most of the retail industry, every sales transaction involves the final consumers. Retail industry is categorized as the service factors which made a positive impact on the economic growth of Malaysia. In Malaysia, the retail sector is strictly regulated by Ministry of Domestic Trade and Consumer Affairs (MDTCA) through
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Chapter 02 The Role of IMC in the Marketing Process Multiple Choice Questions 1. According to the marketing and promotions process model, the marketing process begins with the: A. development of the marketing mix. B. development of a marketing strategy and analysis. C. development of the promotional mix. D. determination of the target market. E. establishment of marketing objectives. 2. A(n) _____ is a document that evolves from an organization's overall corporate strategy
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