Marketing Mix Can Attract and Satisfy Target Markets
I. INTRODUCTION THE HISTORY OF MARKETING MIX
The term "marketing mix" was coined in 1953 by Neil Borden in his American Marketing Association presidential address. However, this was actually a reformulation of an earlier idea by his associate, James Culliton, who in 1948 described the role of the marketing manager as a "mixer of ingredients", who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried. A prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use.
II. BODY
A. Product
1. Product Benefits
2. Product Design Decisions
3. Providing Costumer Services
B. Promotion
1. Promotion to Business Costumers
2. Publicity/Public Reactions
C. Place
1. Place of Business
D. Price
1. Price determine Value
III. OVERVIEW
A Marketing Mix is a Mixture of marketing techniques such as pricing, packaging, and advertising used to promote the sale of a product or the four P’s (product, promotion, price and place). These are variables that a company may use in mapping a successful marketing strategy. Each P is interrelated to all other P’s
Marketing Success = desirable product + acceptable price + effective promotion + right place
These four P’s of marketing mix are a very important part of every business in attracting and keeping target markets satisfied where:
• A good product is the key to marketing success. While all other elements of marketing mix must work together for the overall success of a company, the product is essential for the marketing mix to be able to be used.
• The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product. Retailers use different pricing strategies to attract different
The term "marketing mix" was coined in 1953 by Neil Borden in his American Marketing Association presidential address. However, this was actually a reformulation of an earlier idea by his associate, James Culliton, who in 1948 described the role of the marketing manager as a "mixer of ingredients", who sometimes follows recipes prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe from immediately available ingredients, and at other times invents new ingredients no one else has tried. A prominent marketer, E. Jerome McCarthy, proposed a Four P classification in 1960, which has seen wide use.
II. BODY
A. Product
1. Product Benefits
2. Product Design Decisions
3. Providing Costumer Services
B. Promotion
1. Promotion to Business Costumers
2. Publicity/Public Reactions
C. Place
1. Place of Business
D. Price
1. Price determine Value
III. OVERVIEW
A Marketing Mix is a Mixture of marketing techniques such as pricing, packaging, and advertising used to promote the sale of a product or the four P’s (product, promotion, price and place). These are variables that a company may use in mapping a successful marketing strategy. Each P is interrelated to all other P’s
Marketing Success = desirable product + acceptable price + effective promotion + right place
These four P’s of marketing mix are a very important part of every business in attracting and keeping target markets satisfied where:
• A good product is the key to marketing success. While all other elements of marketing mix must work together for the overall success of a company, the product is essential for the marketing mix to be able to be used.
• The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product. Retailers use different pricing strategies to attract different
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