Marketing Mix

Running head: MARKETING MIX

The Marketing Mix Paper

MKT/421

March 13, 2013

As Perreault, Cannon, and McCarthy (2011) explain, the marketing mix is a part of a company’s marketing strategy to identify a target market and a related marketing mix (p. 33). They define the marketing mix as the controllable variables the company gathers to satisfy the needs and wants of their target group. The controllable variables are commonly known as the 4 P’s – product, place, promotion, and price. Contrary to what many believe, the customer is not a part of the marketing mix, yet is central and should drive all marketing efforts. The variable of “product” has to do with the actual product or service that an organization is developing. This would include branding, packaging, warranties, accessories, installation, and so forth. “Place” refers to the decisions about how to get the product to the target market’s locations. Therefore, an aspect of the “place” variable is the channel of distribution and the type of channel to utilize. This variable also consists of market exposure, how to handle transportation of goods, storage of goods, location to sell product, and so on. The variable of “promotion” involves informing the target market and the channel of distribution about the correct product for their needs and wants. “Promotion” also consists of selling so that the company continues to retain its current customer base while also attracting new customers. Therefore, there are decisions made about advertising, sales promotions, budget, publicity, and so on. The last “P,” “price,” consists of setting the right price intended for the target market, while also making it reasonable to compete against it competitors. So, with “price” there are considerations about allowances, discounts, geographic terms, level over product life, and more.

To discuss marketing mix further, let’s look at the brand of “There’s Only One,” Jeep and how the 4 P’s have affected the development...