The Marketing Mix at Wal-Mart Inc. MBA 6012 – Section 102 Unit 1 – Assignment 1 02/24/2013 Marketing is essential to any type of company. In order to be successful in marketing‚ a firm must achieve the optimal marketing mix. While for the most part‚ Wal-Mart Inc. has been successful in marketing‚ there are some areas which could use improvement. Their marketing mix‚ much like in other companies‚ consists of the four P’s. All-together‚ Wal-Mart Inc. has done well in marketing. To begin
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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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An Introduction to Marketing Mix Marketing mix is the set of controllable marketing variables that the firm blends to produce the response it wants in the target market. The 5P’s of the marketing mix are the following: Product‚ Price‚ Promotion‚ Place and People. To create the right marketing mix‚ businesses have to meet the following conditions: • The product has to have the right features. • Sold at ideal price. • The goods is sell in the right place. • The target group needs to be made
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marketing concept 4.2 The marketing mix (product) 4.3 The marketing mix (price) Page ..................................................................................................................................... 5 5.1 The marketing mix (place) 5.2 The marketing mix (promotions) Page ..................................................................................................................................... 6 6.1 The other promotional technique 6.2 Conclusion Attachment
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Marketing Mix The marketing mix is primarily made up of four variables‚ and they are product‚ place‚ price‚ and promotion. The marketing mix is often described as a method 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 (QuickMBA‚ 2007). In order for a company to achieve its goals‚ the company must have a strategy that mixes the correct elements of marketing. The term Marketing
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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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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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Italian-American entrees and side dishes. Pizza is the primary focus‚ with traditional‚ specialty and custom pizzas available in a variety of crust styles and toppings. 2.0 Marketing Mix Marketing mix is one of the key concepts in modern marketing theory. It is also a tool used by an organization to further decide on its marketing objectives. The activities that a marketing manager does to make decisions falls under
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Marketing Mix The marketing mix is essentially about meeting the needs of the customer. Companies must make determinations about what “works” and what does not “work”. In order to assess where the company stands with their product or service‚ a marketing mix that is focused on the customer will help in addressing the changes that should be made. Companies can address such things as the packaging of the product or service. Warranties can be
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Abstract In this paper I will define what a good marketing mix requires and describe how a company uses this process to market their product. I have chosen Anytime Fitness as my company to do my paper on. Anytime Fitness is a unique style of fitness club that is in a very competitive market place. Their marketing mix focuses on all of the four P’s to attract customers. They locate small neighborhood clubs close to where people live and work. They are a no frills workout center that offers weights
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