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  • Essay / Marketing Success - 1800

    Marketing is the management process involved in identifying, anticipating and satisfying consumer needs in a profitable manner. This marketing mix includes product, price, place and promotion (Surridge and Gillespie p. 190). Sometimes people claim that one element of the mix is ​​more important than the others, but I believe they are all equally essential to the success of a product. In this essay, I will explain the different elements of the marketing mix, whether the product is the most important element of the marketing mix, and the importance of an integrated and cohesive marketing mix. First, in no order, I will talk about the different elements of the marketing mix. Price is simply the amount a product is sold for. This is the amount charged for a product. (Surridge and Gillespie p. 190). This has a direct effect on the revenue and profits that a company earns. Therefore, the price should be such that the company can make maximum profit from the goods sold. There are different pricing strategies that a company can implement in order to ensure the success of a product. Examples are value pricing, market penetration pricing, bundle pricing, predatory pricing, etc. (Surridge and Gillespie, pages 208-209). The second marketing mix is ​​promotion. It is simply the communication to a potential customer about a product or service by one or more means (Surridge and Gillespie p. 190). Tell people about goods and services in a positive way that will make them want to buy them. The promotional mix consists of a mixture of advertising, personal selling, sales promotion and public relations, direct mail, branding and merchandising (Surridge and Gillespie, p. 225-228). Additionally, location is another element of the marketing mix. It can be defined middle of paper......, I believe that all the different elements of the marketing mix must work hand in hand for the sales success of any product. We cannot say that because a product is high quality it should not be well promoted or because it is a cheap product it should not be found everywhere or because it is found everywhere and that it should not be of quality. This shows that for the success of any product in marketing, all the different elements of the marketing mix work together and complement each other. Works CitedDominoes Pizza Smart Marketing [access to: http://www.tutor2u.net/blog/index.php/business-studies/comments/dominos-pizza-growth-strategy-part-3-smart-marketing/ ]Ritz, Bryan, The Added Value of Breakfast, Business Review, February 1, 2007. Surridge, Malcolm and Andrew Gillespie, AQA Business Studies for AS, London: Hodder Education, 2008. Chapters 26 - 30