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Mini Essay 4 revise - as they trying to sell the products...

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Mikhael Boedhi-Tjahjono/L00519043 Mini Essay Writing 115 TTR 12.00-1.50 Dr. K. Shull 1-2-2011 Marketing Mix Marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan. There are four elements: product, place, promotion, and price. Organizations use these four elements of the marketing mix to make profits on the product or service they offer. In the past, many firms were what could have been described as product- oriented. They produced a product and spent their energies marketing this product. There was little flexibility for individual customers or segments of the market. Firms now tend to be market-oriented. This means that they are flexible and adaptable to the demands of the market
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Unformatted text preview: as they trying to sell the products well. All four Ps are needed in a marketing mix. The four Ps must be productively combined, so that a company develops the best mix for its target market. In other words, each decision must work well with all of the others to make a logical whole. That’s why the four Ps are arranged around the customer or target market. The needs of a target market often determine the nature of appropriate elements of the marketing mix. It is important to remember that selecting a target market and developing a marketing mix are interrelated. Both are parts of a marketing strategy and must be decided together....
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