Analyzing TK-MAX's Marketing Mix (7Ps) to Achieve Business Objectives

This essay provides a detailed analysis of how TK-MAX utilizes the elements of the marketing mix, specifically the 7Ps (Product, Price, Promotion, Place, People, Process, and Physical Evidence), to achieve its overall business objectives. It emphasizes the importance of each element, such as product uniqueness and appeal, appropriate pricing strategies (including penetration pricing and price skimming), effective placement and distribution, promotional activities (sales organization, public relations, advertising, and sales promotion), focusing on people (customers) to fulfill their demands, streamlining organizational processes to meet customer needs, and maintaining physical evidence for service delivery. The essay concludes that by effectively managing these 7Ps, TK-MAX can maintain sustainability and achieve its goals in the competitive market. Desklib offers a platform with a wide array of study tools and solved assignments for students.

Marketing essential assignment

Compare ways in which organizations use elements of the
marketing mix (7Ps) to achieve the overall business objectives
• This is the most beneficial
format of the marketing
mix that allows the
company to have the
proper business strategies
for the company in the
market
• The 7Ps of the marketing
mix are – Product, price,
promotion, Place, people,
process, physical evidences

Product
• This is the most important
factors of the marketing
mix
• Depending upon the
nature of the products and
the services delivered by
the TK-MAX company, the
clothing’s appealers and
the unique designed
clothing products are the
basic elements

Price:
• The price of the products
must be proper in order to
have the proper response
to but the products from
the company
• It is the most suitable
process that helps the
company to have the
proper justification of the
company in the market
(Lusch and Vargo, 2014).

Contd..
• The marketing managers
of the company need to
have the implication of the
faces described below:
• The entire marketing
penetration pricing polices
• The entire price skimming
policies
• Dispassionate pricing

Place:
• This is the third most
important factors for the
company that needs to be
taken into consideration by
the marketing managers of
the company
• It is the most beneficial
process for the company to
judge the adaptability of the
products or the service
delivered by the company

Promotion:
• Sales organizing
• Making public relations
• Advertising of the
products
• Prompting the sales
• The se are common
factors that is taken into
considearion by the TK-
MAX company

People:
• This factors ahs the direct
relationship with the
company as the main aim of
the companies is to fulfill the
demands of the customers
• the company managers need
to indicate the proper areas
in the market whether they
have manger to get the actual
target people in the market

Process:
• The proper organizational
process and the services
inside the organization help
to execute the overall process
properly in the market
• It can be also suggested that
the entire process can be
made according to the
customer demands and to
have the justification

Physical Evidences
• The entire service delivering
process must be collaborate with
the help of the physical evidences,
as in case of nay emergency the
physical evidences will help
• Therefore, the TK-MAX company
need to also make a habit of
keeping the physical evidences
based on which, they can maintains
the sustainability of the entire
process in the market (Baker,
2016).