Marketing Mix Paper
Marketing Mix Paper
Marketing mix is one of the most essential elements in an organization, just as the recipe is to a chef. It is similar in the cooking field, that if only one element is used, the final specialty would not taste as good. Similarly, all elements in the marketing mix should also be utilized properly for it to be effective. With that, this paper will discuss the different marketing mix of an organization including their products, pricing, promotional efforts, and location. To clearly establish the ‘mix’, the paper will also state various cases of the organization in order to establish how each element is used. Moreover, the paper will also establish how the four elements affect the entire marketing strategy of the organization, and how an organization implements their respective marketing mix.
The first thing that an organization needs to know before coming up with their product distribution is to know the target audience of their products or services. This way, they will be able to evaluate whether the product truly suits the preferences of their target audience. Aside from that, the product packaging, size, and raw materials used are also crucial considerations. By conducting thorough market research, a company will be able to proactively alter their products in a way that will suit the product preferences of their potential consumers. This will also serve as a guide in their attempts of coming up with new products. This is highly relevant in the case of Motorola because their product, cellular phone also requires a lot of upgrading and innovation.
Cellular phones have grown to be more than just a luxury for people. It is one of if not the basic need used for communication, and additional features would also provide the users with entertainment, precautionary, and luxury tools. Motorola specifically produces cellular phones that stand out when it comes to aesthetic design and call quality. Some other praised features of Motorola cellular phones are its user-friendly features, video quality, call quality, and other entertainment tools. Since photo capturing is also growing popular in most cellular phones, Motorola has also adapted well to this trend, allowing their users to capture moments through their phones by their photo and video capture features. One of their ways of staying on the competition is focusing on their phones’ unique features, which is being slim and sleek. Another factor Motorola has taken into account is the demographic segmentation. They understand the age groups of those interested in the product and who uses the phones. In a family of four, the odds of all members owning a cell phone are greater than not and they realize the need to pinpoint areas where this applies most. The organization should also be aware that consumer preferences and needs change from time to time, and their phones should be able to cater to these needs. Because of these inevitable changes, any product will have its life cycle.
New products usually go through an introductory phase. At this stage, the company is still testing the waters, on coming up with the right price for the product, the best promotional strategy, and how it would be distributed. During the introductory phase, a product is attractive because it is one of a kind, eventually however, similar products will be introduced as well. This stage is called the growth phase. The product will reach its maturity stage once it has lost its intrinsic uniqueness becoming just another product on the market. The maturity phase of a product is considered to be the most crucial because there is the chance for it to be overshadowed by competing products. Once the company records decreasing profits, despite their marketing strategies and other promotional efforts, then the product has reached its decline phase (NetMBA, 2002-2010).
Price is the only element in the marketing mix that is...
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