Marketing is a vast field and is essential for the
business organization associated with buying and selling of a product. The main
aim of a marketing organization is to attract the attention of target market
segments or audiences using celebrity endorsements, design, slogans, general
media exposure, etc. It forms an integral part of all forms of businesses or
industries. The effective marketing strategies, plans, and marketing mix form
the basis of continuous growth of the marketing environment.
A marketing strategy focus on helping the business
organization attains a sustainable competitive edge and increase sales. It
comprises of short-term and long-term activities as well as all include all the
necessary and essential marketing activities. The effective marketing plan
describes the market’s position and strategies of the business organization for
a particular period.
Marketing Mix
A marketing mix is the best tool which the marketers
use for marketing. It describes the actions or tactics for promoting its
product, service or brand in the market. These elements affect each other and
play a vital role in deciding the business strategy of any organization. Proper
mixing and implementation of all these four variables are helpful to set up a
business plan for any organization. The approach also affects market
positioning, targeting, and segmentation.
To get more detail information for 4 P's Marketing Assignment Help Australia, one can choose No1 Assignment Help. The online platform
provides you with valuable knowledge on 4 p marketing model. All these factors
are needed for making any business plan such as:
Product: It is the item or commodity which is promoted by
business to attract customers. To deploy a product, it is essential to know
about the demands and expectations of the customers. Also, the features and
their cost value should be taken into consideration before introducing it into
the market. Various functions need to be
checked as which is increasing the amount. It is, however, important to study
the products available in the market and what new they are going to introduce
in the market. Various other aspects include colour, size, name, marketing
strategy, etc.
Price: It is the amount of money which is paid by the
consumer to the seller and differs on the different distribution channel. Price
plays an important role and determines the company's profit, and it has much
impact on the formulated marketing strategy, and the price variation of the
product affects the demand and sales. There are few pricing techniques used to
provide the estimation of the pricing of the goods and services such as cost
recovery pricing, penetration pricing, and price skimming.
Place: Refers to the distribution channel through which the
consumer receives the product. There are many types of strategies such as
intensive distribution, selective distribution, exclusive distribution and
franchising which are utilized by the marketer to complement the other aspects
of the marketing mix.
Promotion: Promotion is done to promote the product or services.
It can be seen on TV, the Internet and Newspaper. Marketers take the support of
various communications means to convey about the product, brand or organization
to the consumers.
All these variables form the 4 p marketing framework.
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it will make more comfortable for you in understanding the practical
applications of the 4P’s model in the present market.
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