Four Ps of Marketing Essay - EssaysForStudent.com.
The Four P’s of the Marketing Mix Shandalia Whitener American Intercontinental University Abstract This paper discusses the marketing mix. The writer explains the four p’s that make up the marketing mix in order to market a product or service.
When dealing with the marketing mix, the four P’s of marketing include product, place, price, and promotion. The product is one of the most important items in the four P’s of marketing. This is what you are actually selling. It is important to know what the product will give the customer, and what the customer wants from it.
The Net MBA Business knowledge center states that: “the four P’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment (Net MBA). ” Examples of product decisions involve brand names and quality issues.
The four P’s were broad and encompassing elements that were combined to create effective and satisfactory results. The applicability of the four P’s of marketing in the realm of healthcare would be the focus of this essay. The essay would start with a clarification and definition of the four P’s.
McCarthy in 1960 in summarized marketing mix elements as four categories: Product, Price, Place and Promotion (J. Cha., 2009). In 1967, Philip Kotler further confirmed (Wander Jager., 2007).that the most important elements in marketing mix 4Ps is product, which means that the business should focus on the development of features so that products has the unique selling point.
ABSTRACT The aim of this paper is to explore the relationship between three key variables, namely Marketing Mix, satisfaction and loyalty in curative tourism industry in Jordan. The seven dimensions of the Marketing Mix employed in this study are product, price, promotion, physical evidence, place, personnel, and process.
Four P’s of Marketing Mix Essay Sample. The marketing mix is the most important tool used for marketing the products with the consumers. The marketing mix is the only one parameter for a company to distinguish its product from the other same kind of products of different companies.
The original marketing mix, or 4 P's, as originally proposed by marketer and academic Jerome E. McCarthy, provides a framework for marketing decision-making. Effectively summing up the 4 pillars of the business cycle, McCarthy's marketing mix has since become one of the most enduring and widely accepted frameworks in business.
A marketing mix comprises of a bunch of tools, tactics or actions that a company might use to introduce and promote its product or brand. The 4 Ps of marketing is made up of: However, because of the increasing demands of the field, there’s been an introduction of 7 Ps of marketing which also includes components such as people, positioning.
In this essay, I will compare and contrast the 4 Ps marketing approach (price, product, place, and promotion) versus the value approach which consists of creating, communicating, and deliver plus the exchanging which is price equivalent. I also explain what should be expected of these two approaches.
The marketing mix is often crucial when determining a product or brand's offering, and is often synonymous with the four Ps: price, product, promotion, and place; in service marketing, however, the four Ps have been expanded to the seven Ps or eight Ps to address the different nature of services.
The Services Marketing Mix is also known as the 7 P’s of Marketing. The Services Marketing Mix is unique to services. The model is an extension of Product Marketing Mix (also known as the 4 P’s of Marketing). All four tactics of the Product Marketing Mix used to market products remain, but three new tactics are added.
As we noted before, the marketing mix is predominately associated with the 4P’s of marketing, the 7P’s of service marketing, and the 4 Cs theories developed in the 1990s. Here are the principles used in the application of the right marketing mix starting with the 4P's: Marketing Mix 4P's. A marketing expert named E. Jerome McCarthy created.
