Assess why a mix of promotional strategies is important in the marketing of goods and services. Executive Summary Marketing involves a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers. Promotion is the methods practiced by a business to enlighten, persuade and remind a target market about its products. The importance of promotional strategies is determined by the ability of a businesses marketing mix such as ‘Jenny
Words: 1292 - Pages: 6
Abstract Many people believe the idea of marketing and sales are the same thing, however, sales is just one piece of the whole marketing concept, and to understand this concept, is necessary to understand marketing mix. Marketing mix is a series of activities that work together and are part of the marketing process, those activities are known as the four P’s: Product: type of goods to be produced and the quantities. Price: cost of the product to be sold to the consumer. Place: geographic area where
Words: 1455 - Pages: 6
Dependent? The marketing mix is a very simple concept, widely accepted as being of high utility in the management of the marketing function. Introduction The seven Ps of the services marketing mix were developed from the four Ps, which were introduced by McCarthy (1960). These original four Ps were the Product, Price, Promotion and Place of a good. The main reason that these aspects were chosen to be the main part of the marketing mix is that they are specific factors over which the marketing manager
Words: 363 - Pages: 2
1 SERVICE CONCEPTION Services are all around us, people use service every day. The growth in the service economy is widely recognized and in-creasingly contributes to the economic development of many regions. Services are diverse and often been difficult to de-fine. Most frequently, a service has been described as an act, a process and a performance. Services are also defined as economic activities that create “added value” and provide benefits to customers. In the past, selling products are separate
Words: 2294 - Pages: 10
Marketing Mix Marketing mix is a strategic mix of four adjustable elements product, place, price and promotion. The four elements in the right combination will generate most favorable income for the company. In order to find the right combination, organizations need to consider how each one of the four elements of marketing mix affects the development of the organization’s marketing strategy and tactics and how each is implemented. Hawaiian Airlines is a well-know company in the Hawaiian Islands
Words: 833 - Pages: 4
Assignment On Marketing in travel and tourism Name: Date: Course title: Task 1 1.1 Core concept of marketing for the travel and tourism sector Travel and tourism are interconnected; there are little differences between the two terms. However, Houge Mackenzie & Kerr (2013) describes tourism as “activities of a person or persons staying in a place outside their homes or their environment for the purpose of leisure, business and other purposes”. Marketing for tourism and travel
Words: 3813 - Pages: 16
Assignment – March 2015 Assignment Front Sheet Qualification Unit number and title Pearson BTEC Level 5 HND Diploma Business Unit 41: Contemporary Issues in Marketing Management Student Name Assessor name Dr. Nittin Essoo Date issued Completion date Deadline 16.03.2015 11.07.2015 Assignment title(s) Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date:
Words: 1058 - Pages: 5
Customer Satisfaction and the Services Marketing Mix Rama Yelkur ABSTRACT. As the U.S. economy continues to shift from a manufacturing to a service orientation, it is important for marketers to understand the importance of reactively adapting to customers through the marketing concept. This manuscript deals with one aspect of that adaptive process: customer service satisfaction. The purpose of this paper is to develop a model (see Figure 1) that suggests the possible effect of each individual
Words: 3936 - Pages: 16
BTEC Level 3 Extended Diploma/Diploma in Business |Unit: 3 Introduction to Marketing |Subject Tutor: | | |Amie Cushion and Rebecca West | |Assignment Title: The Marketing Plan |Ref: 3 of 3 | |Student Name:
Words: 925 - Pages: 4
Any business must consider the marketing mix. This is a combination of factors, which helps a business sell its product. “The major marketing mix tools are classified into four broad groups, called the four Ps of marketing: product, price, place, and promotion (Armstrong, 2011).” “To deliver on its value proposition, the firm must first create a need-satisfying market offering (product).It must decide how much it will charge for the offering (price) and how it will make the offering available to
Words: 556 - Pages: 3
