In: Business and Management. When creating a marketing strategy, the company must first identify the target audience and a related marketing mix. According to businessdictionary. Focusing on a specific audience can help a company develop a marketing mix that will satisfy the needs of this audience better than the competition.
Essay On Marketing Mix For Nike - Words | Bartleby
Through the marketing mix, businesses use the controllable variables of product, price, place, and promotion to define the firms marketing strategy Berkowitz, Disclaimer: This work has been submitted by a student. This is not an example of the work written by professional academic writers. Here you can order a professional work. Find a price that suits your requirements.
Understanding the Marketing Mix Concept: Selecting a Mix Variable
Marketing Mix MKT Marketing Introduction Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed.
How well the product is market is how well the marketing plan is designed. By following the 4Ps from Marketing Management by Dawn Iacobucci will help blueprint the marketing process. Products should have been determined in the research process, but with the final outcome, pricing is important. Comparing competitor prices as well the as Fair Market Value and national averages are methods to ensure proper and accurate pricings for the product. The second focus is the price for the 4P approach.