Marketing Mix
Marketing Mix Decisions
IE 153—WSWX
Marketing Mix
The term “marketing mix” became popularized after Neil H. Borden published his 1964 article, “The Concept of the Marketing Mix”. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a “mixer of ingredients”. The ingredients in Borden’s marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http://www.quickmba.com/marketing/mix/ advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingrediThe 4 P’s of Marketing ents into the four categories that today are known as the 4 P’s of marketing.
Product Strategy
1-6 7-9 10-12 1318a
The four P’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response.
Source: http://www.netmba.com/marketing/mix/
Placement Strategy Pricing Strategy Promotions Strategy
Product Strategy
Product Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical objects, services, persons, places, organizations, and ideas. Service Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Three levels of product 1. Core product – addresses the question: What is the buyer really - the problem-solving services or core benefits that consumers are really buying when they obtain a product 2. Actual product – a product’s parts, quality level, features, design, brand name, packaging and other attributes that combine to deliver core product benefits 3.
IE 153—WSWX
Marketing Mix
The term “marketing mix” became popularized after Neil H. Borden published his 1964 article, “The Concept of the Marketing Mix”. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a “mixer of ingredients”. The ingredients in Borden’s marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http://www.quickmba.com/marketing/mix/ advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingrediThe 4 P’s of Marketing ents into the four categories that today are known as the 4 P’s of marketing.
Product Strategy
1-6 7-9 10-12 1318a
The four P’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response.
Source: http://www.netmba.com/marketing/mix/
Placement Strategy Pricing Strategy Promotions Strategy
Product Strategy
Product Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical objects, services, persons, places, organizations, and ideas. Service Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Three levels of product 1. Core product – addresses the question: What is the buyer really - the problem-solving services or core benefits that consumers are really buying when they obtain a product 2. Actual product – a product’s parts, quality level, features, design, brand name, packaging and other attributes that combine to deliver core product benefits 3.