Marketing Mix - 1070 Words

The marketing mix is primarily made up of four variables, and they are product, place, price, and promotion. These variables are often referred to as the four P s. Many sources often describe the marketing mix as a recipe used in developing a viable marketing strategy, with each ingredient being used different ways and at different times based on the product or service one is trying to market. This paper will utilize three sources to describe the elements of the marketing mix. It will also describe how each one of the four elements of the marketing mix impacts the development of an organization s marketing strategy and tactics. Three Sources Describing the Marketing Mix The article Developing Your Marketing Mix defines the†¦show more content†¦The last element to be discussed is promotion. The primary purpose of the promotion element is to affect the customer behavior in order to close the sale. Promotion includes mainly three topics: advertisement, public relations, and sales promotions. Advertisements come in many forms, such as commercials on television or radio, ads on the internet or in the newspaper, and pop-up ads on the internet. Public relations depend a lot on one s individual personality and developing relationships with customers. Many sales promotions come in the forms of coupons, discounts, or discounts that are linked to the sales strategy. At Tyco Electronics we sell a lot of material that is used by the military and other industrial manufacturing companies such as tubing, heat shrink wrap-able tubing, adhesives, molded boots, adapters, devices / solder sleeves, and labels. Th e product at times will be chosen based on color. For example, the military has a lot of see through casings that several wires fit through, at times, the products we provide are bought based on the variety of colors we offer for our products. This allows the military s see through casings more attractive and not so bland. Tyco Electronics also has many distribution channels around the world. We are a global company, therefore having the proper distribution centers to reach our customers. Tyco Electronics has a department dedicated toShow MoreRelatedHolden Marketing Mix1768 Words   |  8 PagesAssessment 2 Marketing mix Review and Recommendations Report My brand is V6 Holden Commodore Short review about Holden in Australia;- The history of Holden dates back to 1856 when it started as a saddler business in South Australia. Today Holden is one of only seven fully-integrated global General Motors operations that designs, builds and sells vehicles for Australia and the world. 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This paper wouldRead MoreMarketing Mix - 4Ps of Marketing Mix1219 Words   |  5 PagesMarketing mix can be describes as the use and specification of the 4 Ps describing the strategic position of a product in the marketplace†¦ A prominent person to take centre stage was E. Jerome McCarthy in 1960; he proposed a four-P classification which was popularized. (wikipedia.com) The marketing mix approach to marketing is a model of creating and implementing market strategies. The marketing mix stresses the mixing of different factors in a way that both organizational and consumer or target