BACHELOR OF COMMERCE UNIT NAME: MARKETING RESEARCH UNIT CODE: HCB 2210 QUESTION Critically discuss the research conducted on the marketing mix variables and evaluate the benefits of such information to marketing management. INTRODUCTION The marketing mix and the 4 Ps of marketing are often used as synonyms for each other. In fact‚ they are not necessarily the same thing. Marketing mix is a general phrase used to describe the different
Premium Marketing
principles of right conduct that shape the decisions people or organizations make. Practicing ethics in marketing means deliberately applying standards of fairness‚ or moral rights and wrongs‚ to marketing decision making‚ behavior‚ and practice in the organization. In a market economy‚ a business may be expected to act in what it believes to be its own best interest. The purpose of marketing is to create a competitive advantage. An organization achieves an advantage when it does a better job than
Premium Ethics Marketing Business ethics
The term marketing mix was first used in the late 1940s by Neil H. Borden (NetMBA‚ 2007). The original marketing mix introduced by Borden consisted of product‚ planning‚ pricing‚ branding‚ distribution channels‚ personal selling‚ advertising‚ promotions‚ packaging‚ display‚ servicing‚ physical handling‚ and fact finding and analysis. Later E. Jerome McCarthy grouped the parts into the four P’s of marketing known as product‚ place‚ price and promotion (NetMBA‚ 2007). “A typical marketing mix includes
Premium Marketing Organic food
consumer and the brand. Positive brand image results to attachment which is described in psychology as one’s inherent needs to establish and sustain an emotional bonding with others. (Bowelby‚ 1979‚ also seen in Reis&Patrick‚ 1996). In context of Marketing‚ it is a variable which develops relationship between brand and its customer on the basis of psychological‚ functional and sentimental relevance of the brand. For example‚ consumers can get attached to a brand which reinforces one’s desired image
Premium Marketing
GREEN MARKETING Introduction: In the last decade‚ consumers have become more enlightened on environmental issues. Green marketing refers to selling product or rendering services based on environmental benefit. It came into existence in late 1980s and early 1990s. Green marketing is growing rapidly and consumers are willing to pay a lot for green product. There has been little analysis of the impact of this new market on the consumers and the environment so far. Green marketing affects all areas
Premium Marketing Internet marketing Supply chain management
member has completely collected date for 25 questionnaires. We have gained a brief understanding of how to conduct a questionnaire survey‚ from which the concept of marketing research has been established in the mind. 1. Why information collection is important in marketing? The British Institute of Management defines the marketing research as ‘the objective gathering‚ recording and analyzing of all facts about problems relating to the transfer and sale of goods and services from producer to consumer
Premium Marketing Chocolate
Marketing channels Term paper Prepared by: Essam Eldin Khater • Marketing Channels literature review To reach a target market‚ the marketer uses marketing channels. The marketer uses distribution channels to display‚ sell‚ or deliver the physical product or service(s) to the buyer or user. They include distributors‚ wholesalers‚ retailers‚ and agents. The marketer also uses service channels to carry out transactions with potential buyers. Service channels include warehouses‚
Premium Marketing Supply chain management Supply chain
Marketing Communications Theory: Marketing communications is an audience centred activity which attempts to encourage engagements between participants and provoke conversations. The primary role of marketing communications is to engage audiences. Marketing Communications mix: 1. Tools: advertising‚ sales promotion‚ PR‚ direct marketing‚ personal selling and sponsorship. 2. Messages: informative and/or emotional 3. Media: traditional and digital ... and target audience in between
Premium Advertising Communication Mass media
Marketing mix can be describes as "the use and specification of the 4 Ps describing the strategic position of a product in the marketplace… A prominent person to take centre stage was E. Jerome McCarthy in 1960; he proposed a four-P classification which was popularized. (wikipedia.com)" The marketing mix approach to marketing is a model of creating and implementing market strategies. The marketing mix stresses the mixing of different factors in a way that both organizational and consumer or target
Premium Marketing
The Marketing Mix (4p’s) The marketing mix consists of Product‚ Price‚ Place and Promotion strategies that a firm uses to help them reach their objectives. The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other. PRODUCT STRATEGIES When an organization introduces a product into a market they must ask themselves
Premium Marketing Pricing