differentiated from its competitors. Business owners can use a set of tools called the “Marketing Mix” to provide the unique quality that the item for consumption is a need. This tool is made up of a set of controllable factors that can be adjusted until the precise combination is established to satisfy the needs or wants of consumers in a particular target market while generating a profit. The Marketing Mix is made up of four factors. They are product‚ price‚ place and promotion. The product can be
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The marketing mix is primarily made up of four variables‚ and they are product‚ place‚ price‚ and promotion. These variables are often referred to as the four P ’s. Many sources often describe the marketing mix as a recipe used in developing a viable marketing strategy‚ with each ingredient being used different ways and at different times based on the product or service one is trying to market. This paper will utilize three sources to describe the elements of the marketing mix. It will also describe
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The Marketing Mix and 4 Ps The 4Ps are: • Product (or Service) • Place • Price • Promotion A good way to understand the 4 Ps is by the questions that you need to ask to define you marketing mix. Here are some questions that will help you understand and define each of the four elements: Product/Service • What does the customer want from the product/service? What needs does it satisfy? • What features does it have to meet these needs? • Are there any features you’ve missed out? • Are you
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of all the elements of promotion mix is necessary to meet the information requirements of all target customers. This simply means that the promotion mix is not designed to satisfy only the prospective buyer or only the regular buyer. Some elements of the mix may be aimed at the target customer who is unaware of the product‚ while others may be aimed at potential customers who are fully aware of the product and are likely to purchase it. All the elements of the mix played their roles in bringing about
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HRM 3003 Strategic Management Assignment Title: Honda Corporation Student ID: 0808174 Submission Date: 18th Nov 2011 Tutor: Shanthi Rajan Introduction In the modern corporate culture the level of competition is increasing day by day. The main objective of each organization is to enhance its performance and to attain sustainable competitive advantage in relation to its competitors. Change is a constant in present corporate culture. In such changing environment having a single strategy is not enough
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CORPORATE STRATEGY Honda Inc. is a world-renown automobile maker that has grown over the past couple decades. In analyzing its corporate performance Honda strives on innovation and being the first in creating new high-tech‚ and environment friendly products that their customers know that they can rely on. In order for them to achieve this they must have a strong research and development center and encourage their employees to reach for the stars and strive on their imaginations. The threats
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FOCUS TITLE : Tourism industry as the economic generator INTRODUCTION : Malaysia is a beautiful tropical tourist destination in Asia which is the potential not only to attract international tourists but also offer local people. Tourism had become a wise investment that will drive the growth of related industries‚ all the other acts as a vehicle in the development of mega Malaysia to developed countries in this century. This essay examine the efforts boosted the tourism industry and reveals
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Marketing Mix Paper Marketing mix might be considered the most important term in marketing. The marketing mix components are basic foundation of a marketing plan. The marketing mix consists of the four P ’s which are price‚ place‚ product‚ and promotion. By using the marketing mix you can vary the offers of services that you give to your customers. For instance when you are a big name brand corporation you might focus more on promoting and desensitize the focus on price. According to the marketing
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Organizational Planning and Management HUS 643.22 Systems Analysis Comp Unit IV-B Purpose: To discuss the components of the marketing mix‚ outline the product offerings of the agency and define strategic planning from an open systems perspective. Monifa K. Jackson December 26‚ 2003 Dr. Harold Carter Thesis Development Marketing mix is a management function linking the organization to its external environment. The linking or transaction occurs not only between customers and
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advantage to distributing Breeder’s Mix to grocery stores would be lack of competition for a frozen dog food product. The downside would be the lack of convenience and appeal to the average dog food consumer. The food takes time to prepare due to thawing time and it takes up valuable household freezer space. With the majority of dog owners preferring dry dog food price and convenience may trump superior quality ingredients. Therefore instead of distributing Breeder’s Mix to supermarkets the distribution
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