A marketing plan's main focus is the marketing mix, which consists of product, place, promotion and price decisions. The marketing plan tells you if you should use the tabloid press, high-end fashion magazines or direct mail. It creates value to the products. Company Registration No: 4964706. This process is B2B (business-to-business) marketing. For an example, Oreo has been produced one bite size chocolate cookies for target market teenager to consume in any time and any place instead of normal size chocolate cookies. Hence, we can find Oreo cookies in convenience stores of many nations. Marketing Mix: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The role of product in the marketing mix is one of the key components that makes the entire process of connecting with consumers and generating sales possible. Registered Data Controller No: Z1821391. Direct Marketing. The details of four Ps are elaborated in Section 2.1 until 2.4 with Oreo cookies as an example. Gathering the marketing mix: By marketing mix we mean how the organization proposes to sell its products. Nowadays, customers look importantly to intangible products of organization which are services. Price: monetary and non-monetary costs to the market 3. Let us talk more about the various elements in the marketing mix. That is one of the ways to increase profit of the organization. For an example brands are Milo, Oreo, Nescafe, and Coca-cola. A marketing mix is a term that created by the American Marketing Association back in the 1950s to explain how marketers make important decisions regarding how they execute a successful marketing plan. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, â¦ From the research, Oreo company able to producing new versions of existing products to make customers more convenient. Practically, we look a logo of a product and can remember the product of the brand. Their target market is youth and they have fixed an affordable price for them to purchase. The organization has to gather the four Pâs of marketing in appropriate combination. If without products in the organization, nothing can be proceeding for the business. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. The effectiveness of supply chain can minimize the cost and maximize the profit as well as to satisfy the services levels required by the customers. Your marketing mix is the combination of elements that play a role in promoting and delivering your products and services to consumers or clients. It plays important roles and responsibility to add value on a product. The marketing mix refers to the collection of tools and strategies a business will use to do just that: get its products to customers who are ready and able to buy them. Marketing mix is refer to four areas of decision making which are known as four Ps to satisfy customers need and wants. In fact, they are not necessarily the same thing. However, feedback of buyers is one of the information to sellers and is an opportunity for sellers to improve their products. It is creating a channel for conversation with the targeted consumer base. Besides that, these strategies can make the public more familiarity with them. The purpose of a company's marketing mix is to control its marketing plan. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Marketing mix is one of the important marketing requirements in marketing plan. 3. A newspaper article iâ¦ Purpose of Sales Promotion: ... âSales promotion is an integral part of the marketing mixâ. What Are the Elements of a Marketing Mix? The four Ps are refer to product, price, place, promotion for creating, capturing, delivering, and communicating that have value â¦ Place Mix. Next, we look on the definition of promotion. Through promotion, the company aims to attract the customerâs attention and give them enough information about the product to foster enough interest to motivate them to purchase.The team tasked with these activities will begâ¦ It depends on the budget of the organization. Customers have their right to choose a product for purchasing. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Recent year, Oreo has been do market research to adapt current market trends of their target market. In reality, a product produced by manufacturer is distributed to retailers for sale. An indepth marketing research has to be done of the traits of the buyers and the particular needs of the buyers in the target market. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix. You know your target customer reads and trusts two different websites, one with 25,000 visitors a month and one with one million visitors a month. Customers are willing to pay their money, time and energy in exchange for the products. A product, until it is well placed / distributed to reach the customer, â¦ Customers are willing to pay their money to buy a pack of Oreo cookies instead to make cookies by themselves. âProcessâ in the marketing mix refers to the flow that a company uses to deliver its product or service to the customer. This strategy has been one of the popular marketing topics in business. This value co-creation is to allow them the opportunity to act as collaborates in creating the products or services. A marketing mix is the set of marketing tools that a business uses to sell products or services to its target customers. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Free resources to assist you with your university studies! Marketing Mix can be defined as the set of marketing variables that a business implements for the purpose of evincing a desired response in the target market. Besides, it is one of the marketing strategies to expand firmsâ€™ in global. Product:The goods and/or services offered by a company to its customers. Price is the cost consumers pay for a product. 3. 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