Marketing Mix
Marketing Mix
MKT 421 Marketing
Introduction
Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company’s marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix.
The marketing mix is “the strategic plan that defines the company’s overall mission and objectives”. (Armstrong & Kotler, 2011) Sprint will be used as an example as to how they implement the marketing mix to their company. Sprint’s overall mission and objective is “To be No. 1 in providing a simple, instant, enriching and productive customer experience”. (Sprint, 2012) The marketing mix includes the four Ps (elements) of marketing. The four Ps are product, place, pricing, and promotion. To better explain how the four Ps work in a company we will see how Sprint applies the four Ps to their company.
Frist P Element: Products
Sprint is constantly trying to keep up with the technology changes to ensure customer satisfaction. “Sprint is one of the premier wireless providers for smart phones in the US”. (Sprint, 2012) Sprint cells top of the line phones and phone services for residential customers as well as business customers. Sprint is not limited to just new products or service, but to enhance products or services that are already established as well. Marketer’s decisions on products are based on the nature of what the customer’s needs are. For Sprint to make sure they are listening to their customers and to know what their needs are they have blogs and chatting sessions on their website where everyone from customers to employees can share their comments, ideas, suggestions and opinions about
MKT 421 Marketing
Introduction
Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company’s marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix.
The marketing mix is “the strategic plan that defines the company’s overall mission and objectives”. (Armstrong & Kotler, 2011) Sprint will be used as an example as to how they implement the marketing mix to their company. Sprint’s overall mission and objective is “To be No. 1 in providing a simple, instant, enriching and productive customer experience”. (Sprint, 2012) The marketing mix includes the four Ps (elements) of marketing. The four Ps are product, place, pricing, and promotion. To better explain how the four Ps work in a company we will see how Sprint applies the four Ps to their company.
Frist P Element: Products
Sprint is constantly trying to keep up with the technology changes to ensure customer satisfaction. “Sprint is one of the premier wireless providers for smart phones in the US”. (Sprint, 2012) Sprint cells top of the line phones and phone services for residential customers as well as business customers. Sprint is not limited to just new products or service, but to enhance products or services that are already established as well. Marketer’s decisions on products are based on the nature of what the customer’s needs are. For Sprint to make sure they are listening to their customers and to know what their needs are they have blogs and chatting sessions on their website where everyone from customers to employees can share their comments, ideas, suggestions and opinions about
References: Armstrong, G. & Kotler, P. (2011). Marketing: An Introduction. (10th ed.). Upper Saddle River, NJ: Prentice Hall Kerin, R. A., Hartley, S. W. & Rudelius, W. (2011). Marketing (10th ed.). New York, NY: McGrawHill Sprint.com (2012) About Sprint. Retrieved on December 20, 2012 from http://www.sprint.com/about/