The marketing mix is often considered as the center of a marketing strategy. It is defined by Kotler and Armstrong (2010:84) as ‘the set of controllable‚ tactical marketing tools that the firm blends to produce the response it wants in the target market.’ These tools are; Product‚ Price‚ Place and Promotion‚ which are commonly known as the ‘4 Ps.’ A combination of these four components offers the ability to create a successful marketing mix that will produce the desired results. This essay will first
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Initial Capital Investment Before investing any amount of capital into a business‚ organisation or idea‚ It is crucial that research is conducted into the market and the market share of the business. From this‚ an estimation can be gained if it is a wise idea and what the possible return maybe. The initial capital investment must be sufficient to cover all costs of the setting up‚ opening and running of the business until the business is making enough income from sales and services to aide or
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ST ANDREW’S JUNIOR COLLEGE H1 ECONOMICS (8819) JC1 Promotional Examinations Revision Package 2011 Contents Section A: Case Studies 1. 2007 TPJC Prelims H1 Paper CSQ1: China’s Water Woes 2. 2007 GCE A-Level Paper H1 CSQ1: International Tourism (covered in Lecture) 3. 2008 CJC Prelims H1 Paper CSQ1: The Illegal Drug Market 4. 2009 RVHS Year 5 End of Year Exams Paper CSQ1: Challenges of the Agricultural Sector Section B: Essays 1. 2006 SAJC H1 Final Exams: Application of Demand and Supply
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Top of Form Effectiveness of sales promotional tools in Malaysia: the case of low involvement products. Subject: Sales promotions (Analysis) Author: Ndubisi‚ Nelson Oly Pub Date: 07/01/2006 Publication: Name: Academy of Marketing Studies Journal Publisher: The DreamCatchers Group‚ LLC Audience: Academic Format: Magazine/Journal Subject: Business‚ general Copyright: COPYRIGHT 2006 The DreamCatchers Group‚ LLC ISSN: 1095-6298 Issue: Date: July‚ 2006 Source Volume: 10 Source Issue: 2 Product: Product Code: 9914350
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Marketing Mix Mkt 421 December 17‚ 2012 Scott Raasch Marketing Mix One of the traditionally used marketing tools by the firms to achieve its marketing objectives is the “Marketing Mix.” For growth and survival of an organization the marketing mix plays a vital role. A proper and carefully evaluated mix of these elements enables the marketer in achieving a consensus between the expectations of the target customers and the organizational objectives. Elements
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Unit Title PROMOTIONAL ACTIVITIES How you will be assessed | * You need to acquire core knowledge of how businesses combine promotional activities‚ such as advertising and personal selling‚ into a promotional mix and of how these choices are vital to the success of a promotional campaign. * You will need to consider how promotional activities are designed to alter customer attitudes‚ and investigate how the cost of promotional activities affects the final choice of promotional activities
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Marketing mix for competitive advantage: Introduction: 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
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Marketing Mix Michael Anderson MKT/421 May 30‚ 2011 Gabriel Renero According to the text-book Marketing an Introduction “Guided by marketing strategy‚ the company designs an integrated marketing mix made up of factors under its control—product‚ price‚ place‚ and promotion to find the best marketing strategy and mix” (Armstrong & Kotler‚ 2009‚ p. 47). In order to understand the marketing mix one must describe
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Marketing Mix MKT 421 Tyson Foods promotes several different types of food in the food chain industry. They are ranked 96 in the Fortune 500 in America’s largest corporations. Tyson’s produced poultry‚ beef‚ and pork‚ as well as providing the previous to several chain stores to use products. From McDonald nuggets to the Subway sandwich‚ Tyson is one of the largest poultry processing plants in the country. Tyson also distributes bag in bag products to stores which include Sam’s and Wal-Mart stores
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The Marketing Mix and 4 Ps The 4Ps are: • Product (or Service) • Place • Price • Promotion A good way to understand the 4 Ps is by the questions that you need to ask to define you marketing mix. Here are some questions that will help you understand and define each of the four elements: Product/Service • What does the customer want from the product/service? What needs does it satisfy? • What features does it have to meet these needs? • Are there any features you’ve missed out? • Are you
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