MARKETING mix strategy.docx

MARKETING mix strategy.docx - Running Head MARKETING MIX...

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Running Head: MARKETING MIX STRATEGY 1 MARKETING MIX STRATEGY Institutional affiliation Student name Date
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MARKETING MIX STRATEGY Introduction Marketing mix refers to an aspect of marketing which entails ensuring that the right product or a combination thereof in the place, at the right time, and at the right price. The marketing mix is majorly associated with the 4P’s of marketing which comprises of the following; product, price, promotion and place. This paper will give a brief description of the application of marketing mix in automobile industry. The paper will give a comparison of how two companies in the automobile industry apply marketing mix, basically the paper will give a comparison of the similarities and differences in the marketing mix strategy. My chosen companies for comparison are ford motor company and general motor company. Marketing Mix Concepts Marketing is one of the most essential aspect within an organization. One of the importance of marketing mix in an organization is to enable a company to be able to promote customer loyalty and also expand the market. Comprehension of the marketing mix concept is very crucial for the implementation of successful marketing strategies. Marketing mix emphasizes on four P’s on promotion, product, placement and price. Successful combination of these four factors plays a major role in the establishment of the buying behavior of the customers ( Hoang,2017 ). In marketing mix Product mainly deals with the items which are provided in the market for the customers to purchase as well as the properties which differentiate that particular product from the products which are provided by the competitors in the market. The second component of marketing mix is Price and it is all about the value of obtaining a given product or the cost incurred in the process of production, marketing as well as distribution of that product. The their component of marketing mix is Promotion. Generally promotion is the combination of marketing
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MARKETING MIX STRATEGY campaigns which are purposely made to attract customers so that they can purchase the products. The last component of marketing mix is place and it is used to describe the place where that particular product will be sold. Two of the companies in the automotive industry specifically Ford Motor company and General Motors Company. Marketing mix in automobile industry The two automobile companies; Ford Motor and General Motors Company have strong marketing mix policies which make them successful. These two companies are among the most successful entities across the globe. These two companies have successful similar concepts of the
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  • Fall '08
  • Julier,L
  • Marketing, Ford Motor Company, General Motors Company

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