Marketing Mix Essay

1580 Words7 Pages
Marketing Mix Marketing is a tool often associated with Sales. While bottom line sales benefit from marketing, marketing has a broader scope including relating to customers and meeting a customer need. Marketing includes a mix of elements sometimes called the “marketing mix”. The intent of this paper is to describe the elements of the marketing mix (product, place, price, and promotion). In addition, the paper describes how each one of the four elements of the marketing mix impacts the development of the organization’s marketing strategy and tactics in a small high tech company in Austin, Texas called American Innovations. The paper will describe how each element is implemented, in the Cathodic Protection industry. When an organization is doing business, a marketing strategy must exist. A marketing strategy includes a target market and a marketing mix. The target market is the customer or customers to which the product or service provided by the organization is attempting to appeal. Marketing mix is “the controllable variables the company puts together to satisfy this target group.” (Perreault & McCarthy Jr, 2004, p. 36) Marketing mixes are created to reach a target market or a specific group of customers. Therefore each organization has variations on what marketing mix is implemented for the organization. Several can exist depending on the number of products or services the organization offers and the variety of those products or services. Four basic elements of the marketing mix or “four P’s,” are “product, place, promotion, and price.” (Perreault & McCarthy Jr, 2004, p. 36) The marketing manager’s scope of control exists within the four P’s. The goal of the four P’s is to “make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response.” (NetMBA.com, 2007, para. 2)

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