Analysis of Marketing Mix

You are required to critically examine the relevance of the marketing mix model for modern marketers. This analysis must incorporate an application of the marketing mix model to a product line of your choice.

Word Count:

3645 words

Content:

1.0 Introduction………………………………………………………………………………………………pg3

2.0 Analysing the Marketing Mix Model…………………………………………………………….pg3

2.1 Main Aspects of the Marketing Mix…………………..……………………………..pg 6

2.2 Marketing mix emerging perspectives………………………………..…………….pg 10

3.0 Specific Application of the Marketing Mix by Daimler Chrysler for the Mercedes Benz Product Line……………………………………………………………………………………pg 11

4.0 Conclusion……………………………………………………………………………………………..pg 14

5.0 Bibliography……………………………………………………………………………………………pg 16

1.0 Introduction

Marketing mix is an imperative concept in modern marketing that describes the conceptual framework that marketers use in configuring products to meet market needs while seeking for sustainable competitive advantage. Phillip Kotler (Kotler et al 2005) has referred to it as the set of controllable tools that a firm blends to produce the response it wants in the target market. It therefore consists of everything the firm can do to influence the demand for its product. Marketing mix can be considered as a tool, used by businesses, to implement their marketing strategies: Securing the right product, to the right customers, at the right price, in the right place and at the right time.

This essay critically examines the concept and relevance of the marketing mix model as applied to modern marketing challenges; considers its continued use as a framework to evaluate and analyse marketing activities; its adoption in the success of multinational and global markets in managing products – lifecycles, portfolio planning and growth strategies; identifies the model’s pivotal role in developing sustainable competitive advantage; and evaluates the...