researchskill.2 .docx - FOREIGN TRADE UNIVERSITY RESEARCH...

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FOREIGN TRADE UNIVERSITY RESEARCH TOPIC LITERATURE REVIEW OF MARKETING MIX Authored by: Nguyen Dieu Huong Number student: 1405010063 Class: FB7-B Submitted to: Ms. Dao Minh Anh
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Literature Review I. Introduction : Marketing is a urgent capacity in all organizations and associations, and is turning out to be progressively significant to achievement in our advanced worldwide economy. So it will teach individuals core concept and tools to help people better understand in marketing. As a research, markerting is defined that the management procedure through which products and enterprises move from idea to the client. It includes the coordination of four components called the 4P’s of marketing. Besides, one of the most popular theoretical frameworks in marketing is Marketing Mix that has been used by corporations so as to make marketing and other decisions in a more efficient manner. Corporations have focused on different components of marketing mix as a source of a competitive edge to the strategy received by senior level management in order to achieve long- term goals and objectives. The potential commitment of promoting as far as getting focused edge has been acknowledged by administration of numerous effective organizations along these lines, the regard for this particular territory of business practice has turned out to be more noteworthy than any time in recent memory (Egan, 2007). Marketing mix also called 4Ps can be highlighted as one of the crucial ideas in marketing and focused on four angles of the business practice: product, price, promotion and place (Klein, 2007). The functional application of marketing mix by companies varies according to their size, chosen business strategies, geographical location, competitive edge and a range of other factors. 1. Objective : When its introduction, the developments on the commercial landscape and changes in consumer and organizational attitudes over the last few decades (1940s – 2000s) have frequently provoked marketing scholars to investigate new hypothetical approaches and extent of the marketing blend idea. Some of researchers explores more about “ P’s instead of traditional 4Ps only currently applied in the market. However the creation of new P seem like unstop. New Ps
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were introdued into the marketing scene in order to face up into a highly competitively charged environment”. Therefore, the main objective of this case is to review the present marketing mix applies particularly to the marketing. II. Definitions about marrketing mix: Marketing mix is the coordination or arrangement of the marketing components that match the actual business situation of each enterprise in order to solidify the position of the enterprise in the market. In addtion, they help an industry in making strategic decisions required for the smooth running of an organization 1. According to Stanton, Etzel and Walker (1991); McCarthy and Perreault (1993) and Kotler and Armstrong (1997) concured that the traditional marketing mix has been
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