MARKETING MIX

Marketing Mix

Marketing Mix

The four P's to be discussed are price, promotion and place.

Price

Pricing decision has the principal importance in the marketing strategy for both the consumer and for services. In an exploratory study in 1989 to about 40 medium-sized companies and manufacturers, it was found that the price mechanism of every enterprise was variable, according to the marketing executives, pricing is the most variable and important in decision-making (Homburg, 2009). As with the other elements of the marketing mix, the price of a product must be related to the achievement of organizational goals and marketing (McCarthy, 2008).

In marketing mix, price is the very flexible element to change (Möller, 2009).

Promotion

The promotion in services can be performed through four traditional forms of power which influence sales and products, these forms are mentioned below:

Advertising defined as any paid form of no personal presentation and promotion of services through a specific organization or individual.

Personal Selling: defined as the personal presentation of services in a conversation with one or more prospective purchasers for the purpose of making sales (Procena, 2009).

Public Relations (Publicity): defined as non-personal stimulation of demand for consuming news service commercially important about it, in any form or obtaining favorable presentation in a way not paid by the sponsor of the service (Mullins, 2009).

Promotion of sales, marketing activities other than advertising, personal selling and public relations to stimulate customer purchases and the use and improvement of effectiveness of the dealer (Salancik, 2010).

Place

All organizations, whether they produce tangible or intangible, are interested in decisions on the square (also called channel, site, delivery, distribution, location or coverage that is, how available to users offers and make them accessible to them (Slater, 2010). The square is an element of the marketing mix that has received little attention in or related to ...