Marketing Mix

Marketing mix
INTRODUCTION
Marketing mix is a basic model for businesses and it includes product, price, place,
promotion, packaging, positioning and people. Marketing mix used by the businesses
to achieve its marketing objectives in the specific market.
Marketing mix
Place- In the marketing mix, place is defined the exact location where the products
and services are sold. It also reflects the specific place where the customer interacts
with the salesperson (Fan, Lau and Zhao., 2015). So, the company should have to
select the accurate location for selling their products and services.
Product- It defines the accuracy and suitability of products according to the
customer’s needs and requirements (Datta, Ailawadi and Van Heerde., 2017). The
appropriation of product is very necessary to satisfy the consumers.
Price- Most of the customers chooses the products which are high in quality and less
in prices. So, company have to make sure that the labelled prices are appropriate
according to the product value and worth.
Promotion- Promotion includes the way and path by which company promote and
advertise its product and services (Baker and Saren., 2016). So, the company should
have to careful about choosing the way of advertise its products.
CONCLUSION
From the above report, it is concluded that the marketing mix are very helpful
for the organizations. It assists the company by providing guidance about the price,
place, promotion and product related aspects. It also helps the organization in gaining
its marketing goals in a target market.
RFERENCES
Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data
analytics for business intelligence through the lens of marketing
mix. Big Data Research. 2(1). pp.28-32.
Datta, H., Ailawadi, K.L. and Van Heerde, H.J., 2017. How well does
consumer-based brand equity align with sales-based brand equity and
marketing-mix response?. Journal of Marketing. 81(3). pp.1-20.
Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text.
Sage.
Example of promotion of UBER-
UBER provides weekend guarantees by minimizing the fare rate of
taxi.
Comparison of UBER with black-cabs in London
UBER is cheaper than black-cabs in London. Black-cabs provides high quality
services with their professional drivers. Black-cabs provides their services
with luxury car and vehicles.