Marketing Mix

Marketing Mix Paper

Theapolis Jacquet

Marketing/421

May 19, 2010

Jeryl A. Ashe, MBA

Marketing Mix

Organizations and corporations have individuals who work diligently to market their goods and services to the public. These organizations use the four elements of marketing mix, which are product, place, price, and promotion. This essay will describe these elements main purpose, describe how these elements affects an organization’s marketing strategy, and describe how the four elements are implemented in a selected organization.

Elements of Marketing Mix

Product

The first element product means the goods and services combination the company offers to the target market (Armstrong & Kotler, 2009). Ford offers various models of Lincoln’s, Volvo’s, and Mercury models. Providing these various cars, hybrids, SUVs’, family vans, and trucks gives the consumer options. That can mean special financing, extended warranties, or cash back options on the purchase of a new vehicle. For example; Ford is offering the 2010 Ford Fusion at 0% A.P.R. for 60 months or 2,000 dollars cash back with financing. The Ford Fusion Hybrid was named 2010 North American Car of the Year. According to Ford Motor Company’s website, this award recognizes the most outstanding vehicle of the year, based on many factors, including innovation, design, safety, handling, driver satisfaction and value. To be eligible, vehicles must be all-new or substantially changed from the previous model. The strategy behind this event is to draw new customers from the competition and bring in more revenue. By doing so, Ford increases their net worth and can bring more jobs to their company. Basically, Ford is telling the automobile industry their products and services are superior to the competition.

Place

The second element place has to deal with direct or indirect terms of distribution, in other words, getting the product to the customer when and where it is needed. Place is...