Markerting Mix Essay

401 Words2 Pages
Marketing Mix Felicia Berry MKT 421 May 30, 2013 Mark P. Vitale, PhD Marketing Mix The marketing mix is a primarily that made up of four variables. They are product, place, price, and promotion. These variables are often referred to as the four P's. Marketing mix is described as a recipe used in developing a viable marketing strategy. Each ingredient are being used in different ways and at different times based on the product or service. This paper will utilize three sources to describe the elements of the marketing mix. It will also describe how each one of the four elements of the marketing mix impacts the development of an organization's marketing strategy and tactics. The marketing mix is a good place to start when you are thinking through your plans for a product or service, and it helps you avoid these kinds of mistakes. "Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4 Ps is one way of defining the marketing mix. The 4Ps model is just one of many marketing mix lists that have been developed over the years. Product is one of the four components of the marketing mix. The product is importance of a high-quality product that delivers value to the intended end user is critical. Marketers will consider product as an information that includes sales data as well as market research information about customer satisfaction. As marketers respond to the feedback of the customer, they will make changes to their products and services. Pricing is an important consideration in the marketing planning process. Pricing decisions are based on the costs of producing and delivering the products and services. The place component of the marketing mix refers not only to location, but also to access to the product or

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