Marketing Mix A marketing mix refers to the actions or strategies adopted by a company in a bid to present itself favorably to potential customers existing in its market. The choice of the marketing mix to be adopted by a company is usually aimed at ensuring that a company maintains and increases its level of sales. The four main components that make up a marketing mix include a company’s products‚ price‚ promotion and place of sales. Each of the marketing mix components mentioned above affect
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made for specific area What are the elements of IMC (i.e.‚ the separate Promotional mix and Marketing mix elements)? IMC: Integrated Marketing Communications. Involved coordinating the various promotional elements and other marketing activities that communicate with the firm’s consumer Promotional mix elements: Advertising PR Sales Promotion Personal Selling/Direct Marketing Marketing mix: Promotion Product: the package. Ex: little kids go for cereal with pretty pictures Place/Distribution:
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The marketing mix is often considered as the center of a marketing strategy. It is defined by Kotler and Armstrong (2010:84) as ‘the set of controllable‚ tactical marketing tools that the firm blends to produce the response it wants in the target market.’ These tools are; Product‚ Price‚ Place and Promotion‚ which are commonly known as the ‘4 Ps.’ A combination of these four components offers the ability to create a successful marketing mix that will produce the desired results. This essay will first
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Marketing Mix 2. Brand Name Definition: A trade name used by an enterprise to name their products or services. The brand name of this product is sWaP‚ which stands for smart Watch and Phone. 3. The Customers The customers would be: People interested in technology Business Minded People People who want more features on their watch for a lower price Would like a fashionable watch People who like a conversation starter Want a phone as well as a watch Do not want to pay a £1000 for a watch 4. Importance
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The Marketing Mix Marketers‚ in order to bring out desired responses from their target markets‚ use a number of tools that form a marketing mix. Marketing mix is defined as the set of marketing tools that an organization uses to follow its marketing objectives in the target market. McCarthy has classified these tools as the 4Ps of marketing which are product‚ price‚ place and promotion. (McGraw-Hill/Irwin‚ 2002) The 4Ps are the ideas to take into account while marketing a product. They constitute
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1 c) To what extent has The Authentic Food Company Ltd’s products been the most important element of its marketing mix? Marketing Mix‚ is the combination of Price‚ Product‚ Place and Promotion used by a business. A reason for why the product is the most important element of TAFC Ltd’s marketing mix is because the company has made sure that the quality of its products is their USP and due to this has enabled them to grow throughout the frozen foods market. This is because due to the high quality
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In the USA today article published on September 25‚ 2012‚ the effect of the iPhone 5 on the economy is discussed. As everyone already knows‚ we are still in a great economic recession. It is estimated‚ however‚ that the selling of the iPhone to consumers will add approximately 3 billion dollars to the US economy by the end of this year. Within this article‚ the concept of economic growth is prevalent. With the expected 3 billion dollars expected to be added to the US economy‚ this would add approximately
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budget on promotion and getting their brand "out there." In as much as the businesses might have good products and a wide product range‚ or sold at attractive prices. The company’s at hand would still have to generate sales and profits the benefits would have to be communicated to the consumers through promotion. The promotional mix consists of a blend of personal selling‚ sales promotion and advertising‚ public relation tools. Promotion Element Advantages Disadvantages Sales Promotion -good
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With iPhones being nearly as expensive as computers‚ when your iPhone breaks‚ it makes more sense to repair the damage than it does to just purchase a new phone. If your iPhone screen has been cracked and you are planning on taking it in to get repaired‚ there are a few things you are going to want to inquire about before you let the repair shop get to work on your phone. #1 Ask About A Warranty Whenever you get work done on your iPhone‚ you should check and make sure the work comes with a warranty
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launch on September 20‚ 2013‚ Apple Inc. sold 2‚750‚000 iPhone 5s’. The Apple iPhone is the top sold smartphone and is continuing to control the market. The iPhone 5s is a very respected and prominent product‚ it is used by millions of people for many tasks like work and school. There are few things that stand out to me that I have chosen for the iPhone 5s to evaluate it in: Design‚ Technology‚ Software‚ and the App Store. I believe that the iPhone 5s proves itself in all of these categories‚ and many
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