Marketing Mix Essay

Marketing is a business function that identifies consumer needs, determines target markets and applies products and services to serve these markets. It also involves promoting such products and services within the marketplace. Marketing is inviolate to the success of a business, large or small, with its primary focus on quality, consumer value and customer satisf coifion. A strategy commonly utilised is the Marketing concoction. This tool is made up of four variables known as the Four Ps of marketing. The marketing mix blends these variables together to produce the results it wants to achieve in its specific target market. The following describes the four Ps of marketingProductProducts ar the goods and services that your business provides for sale to your target market. When developing a product you should consider quality, design, features, packaging, customer service and any subsequent after-sales service.PlacePlace is in regards to distribution, location and methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the likely use of the internet to sell products directly to consumers.PricePrice concerns the amount of money that customers must pay in order to purchase your products. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection.PromotionPromotion refers to the act of communicating the benefits and value of your product to consumers. It then involves persuading general consumers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales promotion.