Marketing mix assignment

Marketing mix assignment Words: 824

The familiar ups marketing mix, firmly based on he needs of the manufactured goods sector has given us the four familiar ups of product, price, promotion and place. These ups have been found to be too limited In their application to services, however the ups have been expanded to the ups to address the different nature of business. PRODUCT Product offering Lies at the heart of an organization’s marketing program Is usually the starting point in creating or marketing mix. Product is everything, both favorable and unfavorable that a person receives in an exchange.

Dynamites Public Relations consultancy is a new company which will be offering services to other companies. This company should provide services that satisfy the needs and wants of the target market. The importance of a high quality product and services that delivers value to the extended end user is critical because it will help the consultancy to compete against it rivals. The consultancy should differentiate itself by designing a better and faster delivery system that provides more effective and efficient solutions to its target market.

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The management must be strategic In their choice of areas of focus: It should not be a Jack of all trades. PROMOTION Promotion is all about communication. It is the way in a business makes its products known to the customers, both current and potential. It Is used to attract targeted customers and increase sales of a business. The consultancy needs to understand the basics of promotion and how it plays a part in marketing. Promotion is very important for business because it helps target group find out about what the company has to offer.

Promotion deals with advertising public relations and anything else that has to do with dealing with the public. Without promotion, the general public would not know about a company and sales would suffer the following are the static that the consultancy will use to promote its services; Advertising; it is the most visible element of the promotion components. Is any paid form of non personal communications usually delivered through mass media by an Identified sponsor. The consultancy will advertise heavily in television and radio.

Also internet, cell phones and billboards will be used to advertise the services of the consultancy. Sales promotion; it consists of short range tactics that are intended to achieve a specific objectives within a target market. The consultancy will PLACE A key factor Influencing the selection of a service provider Is convenience. It Is essential that product is available around. The consultancy will open some offices in 1 OFF concerned with various methods of transporting and storing goods, and then making them available for the target group.

The consultancy will make sure there is no product or service in their offices so that the customers should not shift to another consultancy for the service or product. Online and internet based service will be offered by the consultancy which connects the audience with the consultancy representatives. The consultancy will operate in a convenient place where there is good infrastructure like tarred road where combos pass by. PRICE Of all the aspects of the marketing mix, price is the one which creates sales revenue- all the others are costs.

Price makes the product or service affordable to the target market and reflects the value of benefits. Pricing decisions at the point of a new product or service are a little more complicated than pricing existing products. On the one hand, there is good reason to attach a high price to the product to start recovering the new products’ development costs. The consultancy will give discounts to companies which will be in need of different services at the same time or a service which is costs. The prices of some services will be negotiable, this is to attract more customers.

Other customer will pay in installments. PEOPLE For most services people are a vital element of the marketing mix. The management of personnel is Just one other asset to be managed. Despite technological advances, the consultancy services require direct interaction between the employees and the customers. From a customer’s perspective, the encounter with the service staff is probably the most important aspect of the service. The service levels and the way service is delivered by front line personnel can be important source of differentiation s well as competitive advantage.

The consultancy will recruit the right employees and provide them with excellent training regardless of whether employees are highly skilled professionals or low skilled workers. Better trained staff exhibit competence, courtesy, responsiveness, communication, credibility and reliability. The frontline personnel will be empowered so that they deliver to their best. PHYSICAL ENVIRONMENT Physical environment relates to the style and appearance of the physical surroundings and other experimental elements encountered by customers at service delivery sites.