Marketing Mix Paper

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Marketing Mix Paper MKT/421 Marketing Richard Theroux Marketing Mix Paper What is 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 (Mind Tools, 2013). Marketing mix is also known as the 4 P’s; these p’s are for product, place, price, and promotion. To understand the 4 P’s you may ask simple questions; as example for product you can ask how and where will the customer use this product? And how is this product differentiated versus your competitors? Asking for questions for place you would need to ask where buyers will look for this product as well as if they look in a store for this product, where would they look. Price one of the most important to figure the price simple questions like what is the value of the product, are there established price points for this product, and how will your price compare to the competitors. Last but not lease promotion; where and when can you get across your marketing message to the target market, how do the competitors do their promotions. These are some simple question you can ask for each P and you can understand the marketing mix a little better when deal with new product. Coca Cola is a good example of marketing mix this company has been around for many years. The marketing mix of Coca cola has been changing over time more and more products being added such that to it have 3300 products (Kumar, 2012). There is a great variety of brands offered by Coca Cola throughout the world. You can find the Coca Cola soft drinks anywhere in every country of the world (Coca Cola Marketing Mix, 2013). For many years Coca Cola considered the whole world as a single marketing place and uniform marketing strategy was being used; but now the trend is changing and different marketing campaigns are being designed

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