Marketing Mix Paper

Marketing Mix Paper

Happiness R. Brown

University of Phoenix

Marketing MKT/421

Gloria Doucette

December 24, 2010

The phrase marketing mix was first coined in 1953 by the president of the American Marketing Association, Neil Borden during a speech. In 1960, E. Jerome McCarthy proposed the classification of the four P’s. Marketing mix is a general phrase that describes the different choices businesses have to make when bringing a service or product to the market. There are four elements of the marketing mix; product, place, promotion, and price. All four of these elements are geared and centered on the consumer.

The most important element of the marketing mix would be the product. This is the service or product an organization will offer to their consumers. Product focuses on what exactly the product is and how the consumers will benefit from it. The place element is geared towards distribution of the product to the customers. Organizations must decide of their product will be sold by distributors or directly sold to the customers.

The promotion element consists of advertising and making the product visible to customers. This can include ads in newspapers and magazines, television and radio ads, as well as billboards and product packaging. The price element deals with the amount that product will sell for. The price of a product may increase or decrease depending on competition and the demand for the product.

This paper will focus on my cell phone carrier Verizon. Verizon Communications has been a favorite among individual consumers and business consumers for a very long time. When used successfully, marketing mix can have a great impact on a company’s marketing strategy.

The communications technology industry has seen a large boom and it is becoming increasingly popular and profitable to organizations in the industry. Verizon is a very strong competitor and reigns at the top. “Verizon Wireless continues to lead the telecommunications industry by...