4 P's of Marketing Essay

783 WordsMar 31, 20134 Pages
Marketing goods and services is the technique and methods used by sellers to attract consumers. Ultimately the seller is looking to make a profit from these goods and to do so the seller needs to attract a buyer. There are 4 elements used to make marketing a success. These elements, better known as the marketing mix include product, pricing, placement, and promotion. Product is something developed by sellers in which they want to sell and earn profit from. Setting a cost for these goods is pricing. Putting the goods where people will buy them is placement. Finally, promotion is the method in which sellers use to attract buyers. I believe the most important of these elements is the product. For example, how often do you see a See’s Candy commercial or a full page ad in your favorite monthly magazine? I don’t ever recall seeing either yet I can’t visit the mall without pulling a number, waiting in line, and paying way too much for those irresistible confections. I find myself lured to new products by promotional advertising such as TV commercials or as I browse the web. However, the other day when I took my kids for lunch at jack-n-the-box the attractive pricing of the value menu is what got me to try other food choices. Normally we stick to our usual combo orders that cost around $19 altogether. What we found was the choices on the value menu were just as satisfying as our normal order except the total was just under $10.In this case pricing was definitely the biggest influence of my purchase. Everybody wins in this scenario, jack-n-the-box will earn another dollar for their pocket and my kids and I get to go out for lunch without taking any extra dollars out of mine. A couple of months ago I took my son to buy a new controller for his PS3. It was the second time buying the same product in less than a year. This time when we bought the controller the cashier asked

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