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Marketing mix is the combination of marketing variables in the control of the company for a market target. Include product, price, place and promotion. Price is factor unique variable bring to company turnover.
Marketing mix is the combination of marketing variables in the control of the company for a market target. Include product, price, place and promotion. Price is factor unique variable bring to company turnover.
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Marketing mix is the combination of marketing variables in the control of the company for a market target. Include product, price, place and promotion. Price is factor unique variable bring to company turnover.
Авторское право:
Attribution Non-Commercial (BY-NC)
Доступные форматы
Скачайте в формате DOC, PDF, TXT или читайте онлайн в Scribd
The topic: 4Ps in marketing mix and their importance
If we want to understand about this topic, first of all, we have to
understand what the marketing mix is. Marketing mix is the combination of marketing variables in the control of the company for a market target. Include product, price, place and promotion. The first is Product. Product are goods or services that are sold. A product is made up by many difference factors, mainly basic usefulness, brand, packaging, style, and warranty services. Customers are now more and more spending money on product they desire than on product they simply need. There fore all companies must produce goods of very high quality with the brand healthy and looking fresh down the years and the good warranty services. More importantly, they must give brand emotional qualities that match customers’ strongest desire. On the other hand, if companies want to have big profit, they have to attend to the life cycle of product, help it go on and on, and they have to improve product and find the new products. From above, we can give the importance of product. Product is basic, backbone of general Marketing strategy. It is seem a very importance factor for general marketing strategy reaching four targets: profit, power, warranty in business and society. The second is Price. On the side of buyer, price is the cost to the buyer of goods and services. On the side of seller, price is turnover item from consumption their products. Price is effected by many factors, companies have to attend about the factors as characteristic of product, cost, strategy and target of company, level of competition, law and laws of supply and demand. From these factors, company can have difference evaluation methods that it is suitable with market target and customers target. Sometime, company don’t fix price as quality of product, they fix as feeling of customers. Companies often make a set of price to guaranty maximum profit for all products not each product. On the other hand, company have to dress strategy increase or decrease, price discount fix difference price and changing price when market have change. The important of price: Price is factor unique variable bring to company turnover. Decisions of price always stick with finance result of company. Iinformations about price is always importance positions to offer the business decisions. Company always face to the competition from price, so they have to find the relation of price decision. If this is good, company will avoid dangerous attacks and defend better from competitor and from law as well. The third is Place. Place is where goods or services are available. And place or distribution is the way that producers put goods into circulation and final consumers eeffectively. Distribution Chanels are the way bringing goods from manufacture to customers. Company have to select the suitable distributor , this depend on feature of product, ability of company . Company can choice long or short channel or use many kind of channel to develope market target. If company want to sell goods to customers fast, they have to manage activities channel and help them have strongest matching. The manager have to find the best positions, the best places, and the best stores. They have to be interested in storage system, yards andfacilities of transport. The important of Place: thank for the network of distributor channel that overcome different in time, location and ownership between producer and consumer. Place is a importance variable of marketing mix. It effect to other factors of marketing. Nowadays, more and more companies are interested in distribution as a marketing variable give them competitive advantage in long term. Place good make goods and services flow from the produces to customers as smoothly and freely as possible, help to increase turnover , expand production and market share of companies. Not only producer have profit but also the consumers can cut the cost of purchase and satisfy in time and fully, convenient for them. The last is Promotion. Promotion is informing customers about product and persuading them to buy them. The mainly forms are in promotion include advertising, sale promotion, PR, personal selling and direct marketing. Advertising is the subjective and indirect communication forms to transmit informations of goods or services of company and promote to buy. Companies often advertising on TV, magazine, paper, radio, catalog, telemarketing, computermarketing. Sale promotion is all measuresres. They effect immediately and short- term to encourage customers try or buy more from supplying extra benefit to customers. Mainly sale off, promotion gift, and game. PR – public relation is the activities to build the good image of brand or company in public, mainly sponsor. Personal selling is activity that introduces goods or services directly to customers with target is selling and collecting feedback of customers. Direct marketing is combination of upon factors to selling directly to customers without middleman. The important of Promotion: Promotion has three functions, that are informing, persuading, and reminding. Informing of product to customers when the product is launched the market. Persuading customers increase buying product of company when product is in maturity period. Remanding customers remember to product and secure about product of company when product is in the end and decline period. So we cant see promotion is a tool attracting customers and increase sale fingers upon many times and consolidate brand loyalty.
Nowadays, beside 4Ps the marketer also give some P in
marketing mix, such as People and PR, but 4Ps on there always are the importance variable. Some other give 4Cs associate with 4Ps such as Customer solution with Product, Customer cost with price, Convenience with place and Communication with Promotion.