American Intercontinental University
This paper discusses the marketing mix. The writer explains the four p’s that make up the marketing mix in order to market a product or service. The writer also applies the marketing mix to a new model smartphone provided by Samsung. The marketing mix reveals what is most important in marketing the product in order for the marketer to make successful decisions for marketing the product. Once the marketing mix is applied, the marketer will understand what is best to get their product on the market. This paper discusses the importance of each marketing element to give a clear understanding for what is the correct way to gather smart decisions to launch a product/service.
The Four P’s of the Marketing Mix
The marketing mix is basically a set of tools, put together in order to bring a business success. Each different tool covers different decisions that marketers need to make in order to successfully mold their product or service. When starting a business, it is important to have all things in order. Meaning, you want to be sure you have a plan and that everything is organized. Organization and structure is why the marketing mix is so important. The tools in the marketing mix help to organize what you need your business to be; giving the business structure and stability. The four P’s that make up the marketing mix are: price, product, place, and promotion.
Price is self- explanatory, it represents the price of the product or service. Though the price may be the simplest “p” to explain, it is the most vital element in the marketing mix. Being that price is the amount set on the product/ service, the product determines how much profit is made from the product. If the price on the product is not right, the product does not sell, causing business to shut-down. The price plays a major role in the marketing of the product, determining the type of consumers...