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Table of contentEvaluation of Marketing Mix Principles……………………………………………………………………………….. 3Product……………………………………………………………………………………………………………….. 3Price…………………………………………………………………………………………………………………… 3Place…………………………………………………………………………………………………………………… 3Promotion………………………………………………………………………………………………………..… 4Benefit of Market Segmentation …………………………………………………………………….…. 4Design a SWOT analysis for a company……………………………………………………………….4Strengths……………………………………………………………………………………………………………. 4Weaknesses…………………………………………………………………………………………………………4Opportunities……………………………………………………………………………………………………… 5Threats…………………………………………………………………………………………………………………5Role of External Factors in Product Promotion……………………………………………………..5Marketing Objectives of Promotion……………………………………………………………………..5Marketing Research……………………………………………………………………………………………6
Evaluation of Marketing Mix Principles:The marketing mix comprises of four key elements i.e., product, place, price, promotion. These elementsare utilized to satisfy the target market and potential customers(Lahtinen and Rundle, 2020). Theseprinciples help the business to achieve its predefined goals. These principles are controlled andmanipulated to meet the demands of end user or target customer. These principles are essentialelements of the organizational planning and evaluate and analyze the strategies regarding product,pricing, placement and promotion(Wroblewski and Lis 2021). The marketing mix also plays its role withmanagement accountants in order to formulate the internal policies and activities in a manner that helpsthe organization in achieving corporate goals. Despite of how perfect is the product, it is critical to have aprofitable and successful marketing mix followed by a marketing plan.Product :It is regarding the product company manufactures or provides in tangible form andin form of intangibles as services(Moller, 2006). The strategies for both product andservice must be different(Lin, 2019). It is vital to develop a strategy according to theproduct or service you are dealing. These strategies are also influenced by demandsof the customers(Kamali,2009). The quality and quantity of the product or service isformulated on its demand basis. Every business differs from other in designingstrategies of its product or service(Kraak et al., 2017). For instance, the strategy optedby star bucks will be different from that of next, and they both contrast from thestrategies of Qatar airwaysPlace:It describes about the location where the product or service will be accessible to theend user. This can be online, inform of vending machines, Atm, or any other locationwhere product is being placed in the market. The placement should be done byfocusing on the user of particular product or service(Wroblewski and Lis 2021). The placerefers to the distribution channels for the product, such as stores, catalogs, websitesor any other means(Kraak et al., 2017). The placement strategies are also varied for

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Term
Fall
Professor
NoProfessor
Tags
Marketing, Kraak

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