Marketing mix example essays. marketing mix examples essay 2022-10-06
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The marketing mix is a term used to describe the various elements that come together to create a successful marketing strategy. It includes the product or service being offered, the price at which it is being sold, the place where it is being sold, and the promotion used to sell it. Each of these elements is important in its own right, and a successful marketing strategy will carefully consider each of them in order to create an effective marketing campaign.
An example of a marketing mix might be a new brand of energy drink. The product itself would be the energy drink, and the company would need to consider the ingredients, flavor, and packaging of the product in order to make it appealing to potential customers. The price of the product would also need to be carefully considered, as it needs to be competitive with other energy drinks on the market while still allowing the company to turn a profit.
The place where the energy drink is sold is also an important element of the marketing mix. The company may choose to sell the product in stores, online, or through a combination of both. They will also need to consider the distribution channels they will use to get the product to these places, such as using wholesalers or working directly with retailers.
Finally, the promotion of the energy drink is another key element of the marketing mix. This could include advertising in various media, such as television, radio, or social media, as well as more targeted marketing efforts like sponsorships or product placements. The company may also consider offering promotions or discounts to encourage people to try the product.
Overall, the marketing mix is a crucial part of any marketing strategy. By carefully considering each element and how they work together, a company can create a cohesive marketing campaign that effectively promotes their product and helps it stand out in the marketplace. So, the marketing mix is very important for the success of a product.
15 Inspiring Marketing Mix Examples To Help You Create Yours
Next, the computer will be tested and shipped to the consumer. This is only normal because Nike invests a lot for the marketing and advertising of its products. Google Marketing Mix Example Google, a subsidiary of Alphabet Inc, is a tech company most commonly known for its search engine, which bears the same name. Regardless of your approach, you must understand what your target buyer is willing to pay instead of pricing your product on guesswork. This will go down well with the public as government statistics show that the 74% of female's in my target market are concerned about their weight.
Free Marketing Mix Essay Examples and Topic Ideas on GraduateWay
The power of the consumer has grown immensely and from being the one to whom products were sold he became the dictator of products to be produced Morgan, 1993. This is because of the fact that money is usually a scarce resource and as such, the available limited disposable income is allocated to the unlimited competing needs. On the brighter side, this gives organizations an opportunity to innovate and benefit from a niche in the market; however, satisfying such consumers may not be that easy, thus resulting in a constant challenge for both the producer and the marketer. The marketing system that delivers out high standards of living consists of many large and small companies seeking success. Finally, Constantinides 2006 revealed that marketing mix also fails to address the personalized requirements of the buyer-seller relationship due to its inherent mass marketing themes. Or do you use physical storefronts? Examples include movie theaters, online stores, physical Disney stores, mobile apps, and theme parks. Well, it is pretty close to a perfect recipe! Following the mix, marketing tasks in an organization are separated from other activities and given significance; they are also handed to specialists to handle.
This means they can increase the price of their product, which will help increase profit. Positioning Define your unique selling proposition USP — the impression you want to leave on your customers. Or, at least hoping for a great product. Promotion, on the other hand, can be seen from a digital communication point of view. Communication, personalization, and interaction are required to be the corner stones of relationship orientation and the marketing mix is heavily criticized for an internal orientation and one-way communication. Welfare and bio security audits are carried out by independent experts. To begin with, the company presents diverse sizes of storage rooms to meet customer needs and cost.
The latest realization of Feefo, an independent client review associate has reported that Safestore accomplished a 96% customer satisfaction attainment. Hence, this shows the efforts put by the management of Safestore in striving to ensure robust promotion of its products to the people. The uncomplicated concept is easy to memorize and apply. Marketing therefore takes different forms and the final aim of any marketing activity is to enable the product being marketed to get adopted by the target consumers. The behaviour of customers, the trade, competitors and government make up these important forces Borden, 1964. Works Cited Kenneth E. An interesting marketing mix concept to include here would be the life cycle of a product.
When such consumers discuss and generate there personalized demands, the consumers are at the beginning and end of the supply chain. Marketing decisions made by a company when shaping a suitable proposition for the potential customer can be organized into four major groups. Consistent with the interaction and network perspective, marketing is increasingly seen as an interactive process within a social context. What does it look like? Besides, the notion of physical place is no longer appropriate. McDonalds beef is bought from farms accredited by nationally recognised farm assurance schemes. The marketing mix is a very simple concept, widely accepted as being of high utility in the management of the marketing function.
As a result, the company resolved to establish more stores in the cities of UK and on average a majority of customers live within five miles from the nearby store of the company. This is very effective as the consumer is tricked into thinking that the burger is cheaper than 1 pound. Delivering the right product to the proper place at the right time requires creation of a distribution system. International direct marketing: Principles, best practices, marketing facts. In this case, Nike evidently uses print media advertisements to lure customers into buying its golf clubs. Colonel Sanders at the age of 66 travelled the US with his new plan of created a franchise. It is debatable that how many elements should be included in the mix Gronroos, 1994.
Its longevity and unique features is appealing to customers, so featuring this product in stores that the majority to consumers visit in order to purchase affordable products and appliances would be the most cogent approach to placement of this product. A strong customer contact point and well-trained staff were seen as essentials of ensuring repeat customers Dudovskiy, 2012. Think of it as learning based on theory — not practice. More and more consumers today fall in the non-conformist group; the demand for tailor-made products is on the rise. Their online advertising services use a value-based pricing system. KFC also accepts vouchers, such as free Ice cream. Even a tangible product is now a complete offering and the level of service received with the product establishes competitive advantage.
The choices that are made concerning the product can be: brand name, design, functionality, protection, maintenance, packaging, guarantee, accessories and services. The marketing effort develops to a whole new level of interacting and sharing with the consumer. By doing this, McDonalds will attract as much customers as they can. All DoorDash orders are made either from the mobile app or website. The price of the product does change. However one should also be cautious that the need for modifications in one approach does not imply the total abandonment of it. Question them as to whether or not they are satisfied with the product and its quality and if they would like any further support.
This is very effective as the consumer is tricked into thinking that the burger is cheaper than 1 pound. In some cases, this may also pertain to services being offered by a company. So the big question arising out of several studies, such as that of Constantinides 2006 , is whether the marketing mix is an apt marketing management tool for the 21st century consumer? It is a multinational giant that has headquarters in the United States of America. These include; building an influential team, strengthening the brand, ensuring a dynamic operational excellence and creating appropriate value for the customer. This paper aims to evaluate the usefulness of the famed Marketing Mix approach in the rapidly evolving markets of today.