Marketing Mix Four P's of Marketing

Marketing Mix

If one looks around at the products, companies, and services he or she uses; the reason why he or she is typically using them is because of marketing. Marketing is simply putting the right product, in the right place, at the right time. Creating a product that a group of individuals want, putting it on sale at a place these individuals frequent, and hitting the price point they are willing to spend is efficient marketing. This may seem simple but it is really hard finding out what consumers want and if even one element is wrong it can mean disaster for your company and the product.

The most successful marketing departments consider the marketing mix; there are seven parts to the marketing mix, which are price, promotion, place, product, people, physical environment, and process; however, most companies focus on what is called the 4 P’s of marketing: Product or Service, Place, Price, and Promotion. One company famous for its product, service, and marketing and that is the Coca-Cola Company.

The Coca-Cola Company is the world’s largest and most well-known beverage company, manufacturer, distributor, and effective marketers and one of the largest corporations in the world. Coca-Cola is best known for its soda, which was invented by an Atlanta pharmacist John Pemberton in 1886. The Coca-Cola Company has not only its favorite soda but also have over 400 other brands in 200 countries and territories and serves 1.6 billion customers per day. The company only produces the syrup concentrate that is then sold to over 300 bottling partners throughout the world.

Coca-Cola uses marketing to separate its products from their competitors to gain a competitive edge in the marketplace. Coca-Cola’s marketing strategy for 2011 is to make Coca-Cola the favorite brand among youth, increase sales by 3%, and create a high visibility for the Coco-Cola product. Coca-Cola’s success has proven that they understand the marketing mix and have implemented in...