Marketing Mix
Marketing mix is the tool that is used by the marketing manager to make the marketing policy and efficiency better. Which helps to bring the best result out of Marketing.
New York Times article(1963) “Developing is the key word. ‘We don’t build ourselves’, Mr. Lesser stresses. ‘We buy the land, finance the deal, and then we have the best builders build under bond at a fixed cost.’”
Raheela Niazi; [2008] Promotion is one of the key of the four Ps in the marketing mix and as such has a key role to play in market success. The Internet’s potential to provide an efficient channel for marketing communications is overwhelming. Many marketing communication researchers have realized that this new medium would bring new opportunities for the marketing communication process with its popularity as a medium to target consumers. An increase in the use of websites for promotion of consumer products by organizations is expected. Organizations encourage visits to their websites by the use of integrated marketing communications. However, while advertisements are quite popular and a big business on the Internet, sales promotions on the Internet have not caught up yet. The aim of this thesis is to provide better understanding on the use of sales promotions for consumer products in an online environment. In order to reach this purpose, research questions on the types of sales promotions used online, as well as describing the environment in which they existed, were stated. Based on these research questions, a review of the literature was conducted, resulting in a conceptual framework. This framework became the guide for this study’s data collection. A qualitative approach was used, consisting of two case studies. Data was collected by interacting with specific websites. The findings indicate that firms use ‘games’ as major type for online sales promotion of consumer products. In addition, firms also use advergames, contests, and sweepstakes for online sales promotions. Sampling was found useful for digital products. These firms take necessary aspects to make their websites effective. Studied firms use presentation elements and contents that are essential for effective websites. Firms ensure transactions security for online sales and provide playfulness in websites which make them more effective. The findings support past research in that showing that, while firms use aspects to make websites effective, they do not use many of sales promotion types for online promotions. Overall, case studies show that firms have clear approach in adopting online sales promotions and making their websites more effective.
According to Kotler(2008), there are 7p’s now. Since we are moving more into service industry where relationship focus marketing is increasing. Traditionally there were 4ps but now there are 3 more (Physical Appearance, Process, and people).Physical Appearance can also be identified as packaging, how is the service passed on to the customers? People : unlike family own business where the boss makes all the decision, skill and educated labors allow to increase the management decision, also results in more open opportunity for the Boss (since he doesn’t have to waste time in making small decisions). Process : how quickly can the service be delivered to customer.
Waterthin(5 November 2007 UTC) Despite the fact that marketing mix analysis is used as a synonym for the 4Ps of Marketing, it is criticised (Philip Kotler & Armstrong, 2004) on the point that it caters seller’s view of market analysis not customers view. To tackle this criticism, Lauterborn (1990) attempted to match 4 Ps of marketing with 4 Cs of marketing to address consumer views.
Product – Customer Solution
Price – Customer Cost
Placement – Convenience
Promotion – Communication
I removed it for 2 reasons. 1) “Despite the fact…” If it’s a fact then it should be sourced. 2) More substantially, it’s true that 4P’s redirects to Marketing Mix but Marketing Mix and Marketing Mix Analysis are 2 different things. Marketing Mix Analysis is covered at Marketing Mix Modeling and others. Those pages aren’t perfect but they might be better places to raise the 4Ps/4Cs matter.
American Marketing Association (1960) The term “marketing mix” was first used in 1953 when Neil Borden, in his American Marketing Association presidential address, took the recipe idea one step further and coined the term “marketing-mix”. A prominent marketer, E. Jerome McCarthy, proposed a 4 P classification in 1960, which has seen wide use. The four Ps concept is explained in most marketing textbooks and classes.
UTC (December 2006) Given the lack of consistency in the use of the apostrophe in this article, I am deleting it wherever possible so as to at least make an attempt at attaining a higher level of flow. Hope to see more efforts at cleaning up this article. (The marketing article itself is even worse – does this imply that marketing folks are not getting their message across effectively and/or efficiently?)
Michael Foucault (May 2007) One of my students submitted the original version of this as an essay, so having read the four Ps section I felt greater clarity would aid the next student who submits this page to me and it will be easier to identify it.There was some, IMHO, confusion especially in the promotion section and the price section appeared to drift off into elements of industrial marketing – a separate topic – something that was flagged up in the final paragraph.The description of product read more like a treatise from Hegel or Michael Foucault although I expect Michael Foucault would have added his own distinct style to it were he still with us. vorlich 16:39, 22
Bobette Kyle (1999) There is no shortage of marketing programs, many with great profit potential. The challenge is to sift through and choose the ones that are right for your situation ― the ones that have the greatest potential to grow your business.
One key to knowing which marketing programs to choose involves thoroughly understanding how to leverage the 4 Ps of marketing ― price, product, promotion, and place ― to reach and appeal to your target audience(s). When you have addressed these strategic issues, you are better able to choose marketing programs with the most potential to increase your business.
Lambin (2000)states that “marketing is a business philosophy and an action orientated process which is valid for every organisation in contact with it’s constituency of users.
He makes the distinction between marketing as a ’system of thought’ (or strategic marketing) and as an ‘active process’ (or operational marketing).
-AndrewHowse(August 2008) I think that paper was trying to make the point that blindly running marketing programs is just sales promotion. Of course one needs to understand one’s potential customers, and the value that one’s good or service can bring to them. But that doesn’t mean that the 4Ps have suddenly been redefined, so no “Problem” here. If multiple reliable sources were to indicate that the 4Ps really had been redefined,
Arthur Nielsen (1923) Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing.The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior.
Real Estate Theories of Investment :
According to real estate theories, investment is referred to money utilized for buying property for the purpose of ownership or leasing. Also in this case, the factor of capital risk is involved.
Investment Meaning refers to the definition of investment or how investment can be defined. Investment can be defined in many ways according to different theories and principles. In general purview, investment is the application of money for earning more money.
