Marketing Mix and CRM

Marketing Mix and CRM - The term "marketing mix"...

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The term "marketing mix" became popular after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix . Borden's marketing mix included "product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis." E. Jerome McCarthy grouped these items into what is now known as the four P's product, price, place, and promotion. (www.netmba.com) These four P's are the factors that the marketing manager can control, depending on the internal and external limitations of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create a positive response. The first element of the marketing mix is product. The term "product" refers to tangible, physical products as well as services. Some of the product decisions include "brand name, functionality, styling, quality, safety, packaging, warranty, and accessories or services." (www.netmba.com) An important thing to remember about this element is that you cannot develop products and then try to sell them to a mass market. You have to study the wants and needs of the consumers in your target market and then draw these consumers in with something they want. You have to find out what people want and produce that product. Since starting college, I realized that I would be needing a lot of textbooks. Some of the books I needed were not always available at the school’s bookstore. So, I decided to try my luck online. I found that the website www.half.com was extremely useful for me in getting my books. It also allowed me to get my books earlier than I could at the bookstore. This is a good example of providing a product that the customers in the target market want. The second element in the marketing mix is price.
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This note was uploaded on 10/30/2008 for the course BUS 340 taught by Professor Hunter during the Fall '08 term at St. Xavier.

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Marketing Mix and CRM - The term "marketing mix"...

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