Unit name: Establish and adjust the marketing mix Unit No: BSBMKG502B Assessment name: Evaluate and determine the marketing mix Assessment No: 1 Date: 15/10/2012 Student No: ANC120188 Student name: Hantong Xiao Trainer: Ram Introduction In this assessment I will talk about how the braaap organisation identifies the key characteristics of products and services and their effect on the market. At braaap their main product is superlight motorcycle’s design and test in Australia
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Strengths of Ferrari : • Extremely strong brand image. • Products that are a fine combination of beauty & aesthetics combined with unforgettable performance. • The brand has connected to itself an aura of mystique • Is looked upon as a status symbol • Takes on new challenges on a constant basis with a head on attitude. • Innovation & technology are key drivers behind every product. • A very inspired‚ well taken care of & satisfied work-force who are proud to be attached with the brand
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Introduction The term “marketing mix” was introduced by Neil Borden in his 1964 article “The Concept of the Marketing Mix”. Borden’s (1964) original marketing mix was a list of 12 elements that make up a marketing programme. McCarthy (1964) refined Borden’s list and reduced Borden’s 12 elements to four Ps: product‚ price‚ place and promotion. In addition‚ McCarthy (1964) defined the marketing mix as “a combination of all the factors at a marketing manager’s command to satisfy the target market”
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However‚ there are three extended factors included in the marketing mix to make it beneficial for service sector companies like Antone Displays. These includes‚ People These people are the main face of the company that represent their services and work to their business associates and consumers. It is important for company to have presentable and professional employees that clearly convey their plans and message to their client. Moreover‚ in case of Antone Displays it is observed that the company
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operations simple around the world‚ which ensures that their operations will stay the same to each franchise. 2. Marketing Mix adjustments are always needed when trying to keep up with customer changes. Opportunity offers prospects for improving the situation. Changes in consumers’ tastes have increased the demand for places‚ like Dominos‚ to keep up with its changing customers. One marketing mix‚ which was used as an example in the video‚ was when Dominos tried to take the US slogan and make it work in
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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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FERRARI VIDEO CASE NIHAR CHATURVEDI (SEC-B) SHANTI BUSINESS SCHOOL 08-Feb-2012 1. Identify the design element of Ferrari. Ferrari has market positioned itself which signifies speed‚ design and symbol as an engineering marvel in market. The basic element to become a Ferrari deals with the aerodynamic design to create a negative lift of the body. The Ferrari design also implies light weight‚ stronger chassis‚ and smooth edges in order to minimize the resistance of the air pressure on external
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HST 3364 Fundamental Marketing for the Hospitality Industry Group Project AY12/13 “Marketing Analysis Report” Objective: Choose an EXISTING organization from one of the following hospitality sectors: hotel/leisure/tourism/airline/MICE/food and beverage. Accomplish a marketing analysis report through discussion and application of marketing principles. Choose your company: Select and study a different organization on a first-come‚ firstserved basis (Submission Deadline 8th February‚ 2013‚ Week
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P3 Compare the way in which at least two organisations of your choice apply the marketing mix (7P’s) to the marketing planning process to achieve business objectives. • Definition of Marketing Mix The Chattered Institute of Marketing defines the marketing mix. “The combination of marketing inputs that affect customer motivation and behaviour these inputs traditionally encompass four controllable variables ‘the 4 Ps”: product‚ price‚ promotion‚ and place. The list has been extended to 7 Ps‚ the
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Marketing Mix Paper MKT/421 September 20th‚ 2010 The Marketing Mix was a phrase coined in the 1953 by Neil Borden in his AMA (American Marketing Association) presidential address. In 1960 E Jerome McCarthy proposed the 4 P classification that is now used when discussing the “mix”. The actual purpose of the marketing mix was to use a combination of tools to satisfy and reach the goals for both the consumer and company. The four P’s for this mix are product‚ price‚ place‚ and promotion‚ these
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