Marketing decisions generally fall into four categories; product‚ price‚ place and promotion. These categories together‚ are known as the marketing mix‚ or the 4 P ’s of marketing. Subject to the internal and external constraints of the marketing society‚ the marketing mix gives marketing managers controllable parameters to make decisions that are centered on customers in the target market. The ultimate goal of the marketing mix is to create value and generate a positive response for any organzition
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Marketing Mix The elements of the Marketing Mix refer to the tools that will be employed in the marketing efforts of a product‚ service or concept‚ to a particular targeted or segmented group. If the right Marketing Mix is used‚ it will aim all of the company’s efforts at satisfying it’s customers at a profit or other notable success. A typical Marketing Mix includes “The four P’s”‚ which are product‚ price‚ promotion‚ place and sometimes people. Since consumers are surrounded by the controllable
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Explain how and why groups of customers are targeted for selected products. [pic] The Nivea Company manufactures products with fall into the skin and personal care section with items such as lotions‚ deodorants‚ creams‚ soaps and shaving material. This company was founded in 2007 and is based in Mumbai. Nivea is currently owned by a German company named Beiersdorf which was founded in 1882 by pharmacist Carl Paul Beiersdorf. In 1900 the new owner developed a water-in-oil emulsion which
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are the essential characteristics of a marketing-oriented company? Marketing oriented companies focus on customer needs and get close to their customers so that they understand their needs and problems. In the past‚ the Traditional Marketing Concept was achieved their profit and other objectives by satisfying customers but it neglects the competition. But now‚ the Modern Marketing Concept it achieve the corporate goals through meeting and exceeding customer needs and expectations better than the
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Communications in Business 100 Semester Two 2012 Sydney Campus Written Submission Student: Anqi DENG ID:16602081 Tutor: Sunaina Gowan Word counts:1195 Ms. D. Anqi Director of Corporate Communications BHP Billiton Limited GPO Box 2012 180 Lonsdale Street Melbourne Victoria 3000 September 1‚ 2012 Ms. Sunaina Gowan Executive of the Australasian Local Network PO Box 111 Sydney NSW 2000 Dear Ms. Sunaina Gowan‚ BHP Billiton is world’s largest producers of major metals
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The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps with 3 extras; an example of marketing mix is Amazon. The most difficult task for any organization is creating an all-around environment which allows a group of customers to feel comfortable purchasing their products or services. The strategy requires the organization to determine the ideal products
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of Micromax. The strategic marketing planning process flows from a mission and vision statement to the selection of target markets‚ and the formulation of specific marketing mix and positioning objective for each product or service the organization will offer. Kotler present the organization as a value creation and delivery sequence. In its first phase‚ choosing the value‚ the strategist "proceeds to segment the market‚ select the appropriate market target‚ and develop the offer’s value positioning
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total business. Customers within this range tend to have high income and professional careers. This group grows at a rate of about 3% annually. 2. Young adults‚ aged 18-24‚ are the next large group that Starbucks targets. They bring in about 40% ofStarbucks’ sales and Starbucks "positions itself as a place college students can hang out‚ study‚ write papers‚ and meet people." They appeal to this group through the growth of technology and innovative ideas. The young adult group grows at about
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Marketing Mix Paper – Price Pricing is the amount of money that customers are willing to pay a business for a good or service. There are a lot of contributing factors that businesses must take into consideration when it comes to effectively setting a price for a good or service. It includes direct and indirect cost as well as opportunity cost. Pricing is one of the most important elements of the marketing mix. It is the only one of the components that generate revenue‚ while promotion‚ place
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will lead a marketing plan focus on adults 50 to 70 year with a health concerns and sufficient disposable income to take out memberships. Emphasis will be placed on female clients. This campaign is for its 4 modern and well equipped fitness centres. Bounce Fitness Centre will begin by targeting the more established suburbs where there are many original residents who are generally older‚ without children at home and are retiring. A wellness program will be implemented for helping this group to address
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