Marketing Mix Paper
Submitted in partial fulfillment of the
requirements for MKT 421
University of Phoenix Online
The focus of marketing today is the concept of establishing a strategy and plan that will work for any organization depending on the environmental changes around them in order to be successful in the business world. The definition of marketing is the process of planning the conception, pricing promotion, and distribution of ideas, goods, and services to create exchanges that will satisfy company objectives. Marketing is an important factor for any business to connect with customers, promoting additional profits for the organization, and accomplishing quarterly goals for the company. This paper will explain the four elements of the marketing mix which are product, place, promotion, and price. The Marketing Mix
The marketing strategy consists of four basic steps that create the marketing process. The four steps are situation analysis, targeting, positioning, and marketing mix decision. Therefore, combining the marketing mix (product, price, place, & promotion) will ensure the decisions made in the marketing process are supporting the targeted strategy. A marketing strategy is identified as a plan that will be pursued to account for marketing goals in a timely manner for any company.
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