Marketing Mix

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. (http://economictimes.indiatimes.com/definition/marketing-mix). By analyzing the marketing mix that a company is using we can analyze the position of the company in the market. The marketing mix needs a lot of understanding, market research and consultation with several people, from users to trade to manufacturing and several others. (http://economictimes.indiatimes.com/definition/marketing-mix). The smart use of the marketing mix can lead to great success.

!!!!! http://www.entrepreneurial-insights.com/understanding-marketing-mix-concept-4ps/

(will elaborate on this)

The marketing mix concept gained popularity following an article titled “The Concept of the Marketing Mix” by Neil Borden published in 1964. Borden explained how he started using the term inspired by James Culliton who in the 1940s described the marketing manager as a ‘mixer of ingredients.’ Borden’s article detailed these ingredients as product, planning, price, branding, distribution, display, packaging, advertising, promotions, personal selling among many others. Eventually E. Jerome McCarthy clustered these multiple items into four high level categories that we now know as the 4 P’s of marketing. “Its elements are the basic, tactical components of a marketing plan”. Together, elements in these four categories help develop marketing strategies and tactics.

The 4Ps is the most known type of marketing mix. Through the use of this tool, the attempt is to satisfy both the customer and the seller. When properly understood and utilized, this mix has proven to a key factor in a product’s success. (http://www.entrepreneurial-insights.com/understanding-marketing-mix-concept-4ps/)

Depending on the currect position of the company and on the target market we came to the conclusion that the model of 7Ps is the suitable one for entering in the market and positioning ourselves in...