November 13, 2013
Dr. Brett Branch
The market mix is a tool used by marketing firms use as a guide to meet their marketing goals. The marketing mix also known as the 4Ps of marketing (product, place, price, and promotion) plays an important part in growth of an company or organization.
Product is producing the right product for the right target market. Place comes down to just getting the product to the market targeted area, the product is wasted if it is in a place where it is not needed or wanted. Price is setting the right price, one has to figure out how people will react to different prices and set the right price. If the price is set to low the company could lose money and if it is set to high the product might not sale. Promotion is telling the market about the product, it is also used to find new customers (Perreault, Cannon, & McCarthy, Chapter 2, 2011). A good example of the marketing mix would be suntan lotion. Looking at each P of the 4Ps for suntan lotion, product- beach goers are in the sun so they would need protection from the sun, place- you would not try to sell suntan lotion to customers in cold climates, price- if the price is to high people would buy a cheaper brand, promotion- you would want to promote at the beaches then move to water parks and warmer climates.
O'Reilly auto parts is one of the top distributors of automotive part in the United States. O'Reilly Auto Parts opened the first store in 1957 and has continued to grow through acquisitions and mergers. In 1993 they went public and started selling stock in the company. O'Reilly Auto Part now has over 4,000 stores in 42 different states and 24 distribution centers (). The future plan for O'Reilly Auto Parts is to continue to open more stores and distribution centers.
The marketing mix can be seen within the O'Reilly's marketing strategy. They offer a product that in these times is in great demand. Automobiles are not...
Please join StudyMode to read the full document