Marketing mix for competitive advantage:
The main intention of market research is to analyze the demand of customers. In fact, consumers are so close with the market research and product development to their integration into the 4 Ps--that people might even be called: The fifth "P" of marketing. The four P’s of effective marketing mix strategy was developed by McCarthy. Focusing upon customers, company could take right decision for the customers, according to the right place and distribution outlets, and the proper way for approaching the products. Marketing is all about creating beliefs to drive buying. So whether they are focused on the product, price, place, or promotion, successful marketing strategies and tactics center on consumer beliefs.
The Four P’s of Effective Marketing:
L’ORÉAL must have to decide how much to adopt their marketing strategy like Four P’s to local and international conditions of numbers of decisions on the mix of marketing tools to use. The producer like L’ORÉAL always tries to maintain the rules of marketing mix since it operating its business from 1909 and also it is well known about the four P’s method of marketing mix. Marketing mix decisions are mainly used to organize a company as well as for the customers.
L’ORÉAL nicely organized the marketing mix four P’s product, price, promotion and place within the company, like L’ORÉAL design plan to meet needs of customers to meet the global markets demand. L’ORÉAL is doing the right thing to implement their marketing strategy. And it brings success for L’ORÉAL by maintaining competitive advantage.
Product is mainly a thing what a company offer to the customers, it is the important element of the marketing mix which coordinated decisions on product mixes, product lines brand and packaging and labeling. Product is one of the important elements of four P’s which has the ability to satisfy the consumer’s demands. It's anything that can be offered to...
Please join StudyMode to read the full document