Marketing Mix Assignment

Marketing Mix Assignment Words: 721

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. (http://economists. Intimidate. Com/ definition/marketing-mix). By analyzing the marketing mix that a company is using we can analyze the position of the company in the market. The marketing mix needs a lot of understanding, market research and consultation with several people, from users to trade to manufacturing and several others. (http://economists. Intimidate. Com/ definition/marketing-mix). The smart use of the marketing mix can lead to great success. !!!! Http://www. Entrepreneurial-insights. Com/understanding-marketing-mix- concept-ups/ (will elaborate on this) The marketing mix concept gained popularity following an article titled “The Concept of the Marketing Mix” by Neil Borden published in 1964. Borden explained how he started using the term inspired by James Scullion who in the sass described the marketing manager as a ‘mixer of ingredients. ‘ Border’s article detailed these ingredients as product, planning, price, branding, distribution, display, packaging, advertising, promotions, personal selling among many others.

Eventually E. Jerome McCarthy clustered these multiple items into four high level categories that we now know as the 4 As of marketing. “Its elements are the basic, tactical components of a marketing plan”. Together, elements in these four categories help develop marketing strategies and tactics. The ups is the most known type of marketing mix. Through the use of this tool, the attempt is to satisfy both the customer and the seller. When properly understood ND utilized, this mix has proven to a key factor in a product’s success. (http:// www. Entrepreneurial-insights. Com/understanding-marketing-mix-concept-ups/) Depending on the correct position of the company and on the target market we came to the conclusion that the model poops is the suitable one for entering in the market and positioning ourselves in a good place. As per the analysis of the 7 AS: Price- for Apple products price is defined based on the outside look of the ‘phone and also the services it offers. In order to be a successful product in the Bulgarian arrest, phone should place the prices based on the market requirements.

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The citizens of Bulgaria are not a very big fan of expensive smartness when they can have a normal one which offers them the services that they need. They try to buy products which are very necessary for them at reasonable prices. Place- refers to the point of sale. In every industry, catching the eye of the consumer and making it easy for her to buy it is the main aim of a good distribution or ‘place’ strategy. Retailers pay a premium for the right location. In fact, the mantra of a successful retail business is ‘location, location, location’. Http://economists. Intimidate. Com/ definition/marketing-mix)!! (need to elaborate on its definition) The best places that ‘phone products can be sold are mostly retail stores like Technologies, Metro. These stores are located in convenient places in order to make it easier for the customers to go and visit them, check their products as well. Technologies is located in every Mall (especially in Sofia) and it is easier and faster for the customers to check them out.

Process- Product- Apple is a well-known company for its products. ‘phone 6 was the latest product released by them. It is a well-known product which offers great services to its customers. ‘phone 6 will be a preferred product especially for the middle-high class of the population. As there are a lot of foreigners living in Bulgaria they are going to attract the need of having ‘phone 6 available in the stores. Also managers and presidents of different companies find it as a necessary product in their everyday life.

The usage of smartness especially in European countries is considered more as a necessity rather than an item used for leisure. People- Physical Environment- Promotion- We are going to promote the phone in different stores by distributing brochures. Also we are planning to advertise it in TV and social networks. A good success for phone will be promotions for its applications or for regular customers. Also services for the phone are a great tool as well which help the customers rely on the products they buy and feel good for the choices they have made.

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Marketing Mix Assignment. (2022, Jan 08). Retrieved January 28, 2022, from https://anyassignment.com/art/marketing-mix-assignment-31113/