Marketing Mix Paper

Marketing Mix Paper University of Phoenix MKT/421 July 11, 2010 The merchandise mix plays an important give way in marketing. The purpose of the marketing mix is to use a combination of tools to satisfy customers and obtain company goals. Often the marketing mix is referred as the four Ps: harvest-time, price, place, and promotion. The fractions atomic number 18 adjusted until a right combination is found that serves the ask of the intersections customers while generating optimum income (Marketing Mix, 2010, p. 1). By victimisation the four Ps, most businesses have the ability to merge with consumers within the targeted market. The ability to create a successful marketing mix often has good solvings. However apply the defective mix can lead to failed marketing strategies which can result in the business dissolving. The key is not to get stuck on one mix, the combination of elements often has better results than just using one. This research paper will review all elements of the marketing mix and how each one plays an important role that organizations must(prenominal) acknowledge in order to be successful. Product The term product refers to tangible, physical products as well as services (NetMBA, 2010, p. 1). Tangibles be often referred to things that the customer can see, feel, taste and smell.

In the reference phase of the marketing mix, most corporations must first fit what the product will be before they can continue. by and by the product is determined, the question that arises is whether or not there is a hire for such a product. Introducing a new product can be tough in todays economy, consumers are only buying products that they need not want. Organizations must highlight key points on why consumers will need this new product and the benefits of purchasing it. Price Price is the amount which is nonrecreational by the customer to buy the product and service (Sooper Tutorials, 2010, p. 1). This element of the marketing mix also plays an important role. Determining the price of a new product can... If you want to get a full essay, order it on our website: Orderessay

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