MARKETING MIX

Marketing Mix

Marketing Mix

Introduction

All companies in each market have its self strategy to the market. If it's good quality or not, flourishing and unsuccessful, not the ending is distinctive. Since there are a lot of variables in the industry, there are a lot of consumers with dissimilar requirements, set into sections. Then, you have a lot of opponents in each marketplace.

There are numerous goods and services, the identical or alike. These services or goods can be put up for sale in special ways in different places. They can be purchased and sold at a special price. These products may be well known by its brand, or you might not know.

So at present, there are plenty of ways how some companies can do big business. There are innumerable customs of how consumers' requirements could be met. In addition, there are countless customs how consumers can understand the need for newly created, as a number of new products or similar services. This variety of possibilities by which a corporation is to its customers, it is plainly endless. This message, exchanging links, or the course can be explained by four major features. The product, place, price and promotion are recognized as the 4P's or the Marketing Mix.

This paper contains a total of 7 chapters. The 1st chapter describes the four P's of marketing Mix. The 2nd chapter explains the product as the part of Marketing Mix. 3rd chapter tells about the innovations in a product, whereas the 4th chapter describes the variation and diversification in a product.

Chapter 5 describes the decisions taken on a product regarding its design, quality, branding, packaging and warranty. Chapter 6 tells about the elimination of products and the last chapter, chapter 7 describes the integrated performance measurement of the product.

Chapter 1

Marketing Mix - 4P

Product or Service

The first ingredient of Marketing Mix is a product or service offered by the corporation. This product or service is intended to convince a definite requirement for a certain figure of customers. By providing this manufactured goods or service, the business gets sales returns and profits (Blyth 2004 14). Consequently, the symbiosis is present between the company's suppliers and customers who characterize the marketplace.

In order to be acknowledged by customers, the manufactured goods have to meet the needs of a particular consumer. The manufactured good or service is to satisfy the customers in the meaning of quality and excellence and other intangibles that a few products can offer. This might be the potency of the brand, emotions, reputation, multi-functionality, etc (Bilen 2002 41).

Product Distribution

The second element of the marketing mix is the distribution of the product. The consumer should be in a position to find your product in certain stores. This is known as product distribution (Armstrong 2003 15). Purely, the manufactured good should be dispersed in a certain quantity of stores, kiosks, restaurants, or anywhere else, to be available to the consumer to purchase.

Price

When you have a manufactured good that has features for the ...