Marketing Mix

I am a 48 year old student working towards my bachelors degree in human resources.

Marketing Mix

Klista Odgers

MKT/421

Heather Teague

Some people do not know what a marketing mix is or what the basic components known as the four P’s are. I will briefly describe the four P’s and a brief description of each element of the market mix. The first element is the Product, which this is defining chrematistics of your product or service to meet the customers needs. Next is the Price, this is deciding on a price strategy, but even if you plan on not charging for one of your services you still need some kind of price strategy. Next is the Place, this refers to the collections of activities or means through which goods and services reaches the user or the customer through the manufacturer/ service provider. This is called a distribution channel this is a way to reach your customer base. Finally there is Promotion, this includes advertising, sales promotions, private or personal selling, and creating the right impression through the working environment. The key considerations with regard to the promotion element are; The time and way of communication of the marketing messages to the target market, The choice of the promotional element - it can be an advertisement in television or radio or hoardings, by direct marketing, through public relations, The timing of initial promotion and the subsequent promotions, and the choice of promotional elements of the competitors and its influence on the choice of the promotion.

Now that I have described the four main elements of the marketing mix it should be easier to recognize what is needed to be done in order to have a successful marketing strategy and...