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Marketing Mix and Plans

            A marketing mix is a tool used to effectively build a marketing plan. Marketing mix also known as the 4P's which are product, place, price, and promotion. These are the elements that drive the train, the marketing train. Put simply your just trying to market a product to a group of people that want to buy your product, but you have got to have the right place (location) to do this. You have also got have the just the right price for you product. Finally how do you promote your product to the people that you are wanting to buy it. In order for your marketing plan or strategy to work all of these elements must be in synch with the other. Hence there are a few questions that you are going to need answers to before you know you have the right blend.
             The product that your going to market has to be directed toward the right group of people. What is the product going to look like? What color will this product be? These are just a couple of the questions that need answering, there are others. Your product needs to be directed towards a group that is in need of your service. Your product needs to work well and have attracting features that will keep the targeted groups attention. This product needs to be unforgettable, because when all is done you want the targeted group to be digging in their wallets and purses to purchase your product.
             That's where having the right price comes in, because without the right price you are not going to have a profit. One of the ways to get your pricing is knowing what your targeted group expects the price to be. How about the competition what price are they selling the same or similar product for. This is also an important part of the promotion phase. Like I said there a several questions that need answers and we're just getting started. Pricing will also depend on how much product you have to sell, how much did it cost to manufacture. Is your product one of kind if that is the case then maybe you may want to look at placing a slightly higher price on your product.


Essays Related to Marketing Mix and Plans

1. Marketing Mix

The Marketing Mix The purpose of this essay is to explain the concept of a marketing mix. ... The term "mix" evolved from the use of a cooking mix as a simile for a marketing program. ... Once the business plan is completed, a marketing plan is formulated through a marketing planning process. ... The marketing mix is an important part of the marketing planning process as strategies are devised for each element i.e. product, price, promotion and place. ... The marketing mix alters under a number of circumstances. ...

  • Word Count: 1405
  • Approx Pages: 6
  • Has Bibliography
  • Grade Level: Undergraduate

2. Marketing Mix

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  • Word Count: 2010
  • Approx Pages: 8
  • Has Bibliography
  • Grade Level: Undergraduate

3. Components of a Business Marketing Mix

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  • Word Count: 1494
  • Approx Pages: 6
  • Has Bibliography
  • Grade Level: Undergraduate

4. Marketing Mix - Target, Incorporated

Marketing is about understanding the customer's needs and wants to build a relationship with a customer and then maintain the relationship through implementation and control of a marketing plan. ... The marketing strategy and marketing mix involve the activities to create customer value and foster the relationship between buyer and seller. The marketing mix is made up of four main elements; product, price, place, and promotion. ... Marketing Mix Elements Product A good marketing strategy must have the decision on what product they are going to offer to the consumer. ... Conclusion The fou...

  • Word Count: 1456
  • Approx Pages: 6
  • Has Bibliography
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  • Word Count: 816
  • Approx Pages: 3
  • Has Bibliography
  • Grade Level: Undergraduate

6. Marketing Plan

An evaluation of the company's internal strengths and weaknesses and external opportunities and threats would be served as the basis for the marketing plan for opening additional store in Seattle. The plan concentrated on the company's growth and marketing strategy, suggesting ways in which it can attract the new and old customers to feel the same excitement of opening additional Krispy Kreme store in Washington State. ... Instead of business to business marketing as it originally planned, Krispy Kreme has become a business-to-consumer marketing that involves selling goods...

  • Word Count: 2210
  • Approx Pages: 9
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7. The Marketing Mix

Marketing is the total system of interacting activities designed to plan, price, promote and distribute products to present and potential consumers. At the heart of this system is the concept of the marketing mix, consisting of four components known as the four P's - product, price, place and promotion. ... This is probably the most important component in the marketing mix, including advertising, public relations and promotional offers. ...

  • Word Count: 635
  • Approx Pages: 3
  • Grade Level: High School

8. Mc Donalds Application Of Marketing Mix

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  • Word Count: 2425
  • Approx Pages: 10
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9. marketing

It is also a marketing mix variable. ... Third, environmental forces may affect a marketing manager's decision and actions by influencing buyers' reactions to the firm's marketing mix. ... Discuss the creation of a marketing plan. What are the major components of a marketing plan? ... Most marketing plans also detail how the results of the plan will be measured and evaluated. ...

  • Word Count: 793
  • Approx Pages: 3
  • Grade Level: Undergraduate

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