Search our thousands of essays: Lack of Focus on Services The conventional marketing mix tends to be applicable to tangible goods i. Will it be a supplement to the features or will the features be designed around a unique design.
Reverse Channels The last, most non tradition channel allows for the consumer to send a product to the producer. This was done after studying and analyzing the personal computer value chain.
Cost plus pricing is when the price of a particular product is determined by calculating how much it costs to do the job and adding on a given percentage as a return for the job.
Recently, Apple was given the latest trademark certificate by The U. In this case, Apple Inc. With the channels of distribution, more than one method can be used for one business. Whatever the nature of the product, it will follow a lifecycle and through reasonable predictions of this lifecycle, a company can increase its competitive edge.
Therefore, the product of Apple in the marketing mix contributes greatly to their success because of the good qualities it possesses.
Packaging is often used to reinforce this image. Augmented — Finally, there needs to be an assessment of what further benefits can be offered to the customer to ensure a loyal purchasing customer.
What is the value of the product to them? And get regular tips and tricks on topics such as marketing, financing, strategy, and management, so you can start and grow your company more successful. What do they Marketing mix product and place essay Understanding and Creating Benefits Given the importance of product in the marketing mix, it is good practice to understand who is the target group, what are the benefits of an offer, how is this product to be positioned in the market, and what will the USP be?
They must be carefully coordinated to make sure that customers are not confused by conflicting messages being given about the good or service being sold. Apple has released eight generations of iPhones since when the 1st generation was released.
Delivering the right product to the proper place at the right time requires creation of a distribution system. Conversely, if a product has little value in the eyes of the consumer, then it may need to be underpriced to sell.
Furthermore, product quality has a direct and positive influence on ROI, market share and price Jacobson and David This can be a physical item, a service or a virtual offering.
This will allow students to get to know the product and its functions, and word of mouth advertising could take place.
And if even one element is off the mark, a promising product or service can fail completely and end up costing the company substantially. Here also, the company can charge a premium price for additional desirable benefits from features.
This is linked to what the perceived value of the product is to the customer rather than an objective costing of the product on offer. A distributor may have a close relationship with the producer.
These locations may be as close together as two on the same street. However, the disadvantages of the skimming strategy is that it limits its sales which means that it cannot lower costs by building sales volume, if the price of the particular product remains very high for too long, it may delay or entirely prevent acceptance of the product by the general market and early customers of the product may be highly annoyed when the company later drops its price for the product, and as a result, generate bad publicity and cause a very low level of customer loyalty.
This helped the company predict market trends and segment its market. This is the only way to attract customers and hold them in a long-run. Recently, Apple was given the latest trademark certificate by The U.
As android and Windows operating systems came later on smart phones, Apple was able to spellbind its customers with its mobile operating system. The successful marketing strategy is the one that has all elements balanced. Furthermore, Apple ensures that the iPhone is at its best.
Early on in the internet era, Dell began providing order status reports and technical support to their customers online. The core benefit is the benefit the costumer actually buys. Their aim is to cater to the needs and wants of all of their consumers on an international basis.
The fact is that, even though being sometimes extremely costly, promotion can increase the sales significantly, so that advertising and other costs are spread over a larger output.The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place.
In service marketing, however, the four Ps are expanded to the seven P's or eight P's to address the different nature of services.
Marketing strategy includes all activities aimed at the increase in sales and a sustainable competitive advantage based on the selected marketing mix that consists of 4 Ps or product, price, place, and promotion (McCarthy).
The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target currclickblog.com consists of everything that a company can do to influence demand for its product.
It is also a tool to help marketing planning and execution. The marketing mix includes four key facets recognized as product, place, price, and promotion.
The mix is the arrangement of the entire four groups in which a thriving marketing movement is generated. The Marketing Mix is used to market a product or service, this is done by using the Four P's to establish what the Product is, the Price, the Place and the Promotion.
Marketing managers bring the elements of the Four P's together, combining them to achieve a greater result from their combination then each of the individual effects of the Four P. Related Documents: Price, Place, Product, and Promotion: Key Marketing Mix Factors Essay Marketing Mix Essay Target: Marketing Mix Morgan Hight May 9, MKT/ Marlene Shaner Target: Marketing Mix A marketing mix is a planned business tactic that is used in marketing by companies.Download