Marketing mix

Marketing Mix

Marketing Mix

The marketing mix used the 4

's (product , price , place , and promotion in illustrating the specific strategic position of the product in the market . The marketing mix provides an assessment , marketing strategy and marketing plan to be employed . In general , marketing mix assess the potential commercial success for the new product

Assessment of New Products (New , improved ketchup ) Proper handling and packaging is necessary to sell the product . When a new product is introduced into the market , the suggested retail price should be lower than the

expected price . This strategy advertises the products availability as well as its affordability in the market . In the long run , the market will determine the change of price of the product depending on its performance . The distribution channels of the product includes wholesalers , wholesaler retailers , and retailers . Sales promotions as well as adtertising are important to introduce the product widely in the market (A three-dimensional television system that took the company 10 years to develop ) Warranty services are important in promoting a product like a television . Because the product commands a higher price compare to the normal goods , offering a specific range of (1 year ) warranty guarantees success of the product . Cash and early payment discounts can be employed to attract the customers to buy the product . Also , it makes / looks the product inexpensive to buy (A new children 's toy on which the company holds a patent ) Public relations and publicity is a better method of attracting the specific customers to purchase the product . Sales promotions like price discounts help in introducing the product in the market (The Marketing Mix 2002-2007

Once approved for production and marketing , the interaction of price distribution (place , and promotions strategize how the product will enter the market (New , improved ketchup - product decision , price decision , distribution , and promotion (A three-dimensional television system that took the company 10 years to develop - price decision (A new children 's toy on which the company holds a patent - promotions

Reference

The Marketing Mix (The 4

's of Marketing (2002-2007 . NetMBA .com . URL http /www .netmba .com /marketing /mix . Retrieved September 30 , 2007

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