Marketing Case StudyMarketing mix: The term marketing mix is used to describe all the options available to the marketing manager for marketing a particular good or service. It is often referred to as the 4Ps (i.e. product, place, promotion and place). The Product Variable: This aspect of the marketing mix deals with researching consumer desires about the product and designing a product with the desired characteristics. This is a very important element of the marketing mix because it directly involves the creation of products and services that satisfy the needs and desires of consumers. The location variable: to satisfy consumers (i.e. their needs and desires), products must be available at the right time and in a convenient location. In addressing the look of the place, a marketing manager tries to make products available in desired quantities to as many consumers as possible. The promotion variable: This aspect refers to the methods used to inform one or more groups of people about an organization and its products. Promotion may be aimed at increasing public awareness of an organization and new or existing products. It can also be used to educate consumers about product features or to get people interested in that product. The price variable: This aspect of the marketing mix refers to the activities associated with defining pricing policies and determining product prices. Price is a critical component of the marketing mix because consumers are concerned about it...
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