marketing mix

Examples of marketing mix in the following topics:

• A Brief Definition

  • Promotion – how the producer communicates the value of its products – is one of the market mix elements.
  • Promotion – how the producer communicates the value of its products – is one of the market mix elements.
  • There are five elements an organization may choose to include in its promotional mix or promotional plan.
  • These elements are personal selling, advertising, sales promotion, direct marketing, and publicity.

• The Marketing Mix

  • The marketing mix is used to reach a target market and is often referred to as the "four Ps" of marketing: product, price, promotion, and place.
  • This is an example of a model of a green marketing-mix applying the "four Ps."
  • The marketing mix is a business tool used in marketing and by marketers.
  • The marketer must also consider the product mix.
  • The marketer should set a price that complements the other elements of the marketing mix.

• The budget

  • Marketing mix components must be evaluated as part of an overall marketing strategy.
  • Therefore, the organization must establish a marketing budget based on the required marketing effort to influence consumers.
  • The marketing budget represents a plan to allocate expenditures to each of the components of the marketing mix.
  • For example, the firm must establish an advertising budget as part of the marketing budget and allocate expenditures to various types of advertising media—television, newspapers, magazines.
  • A common question that marketers frequently ask is, "Are we spending enough (or too much) to promote the sale of our products?

• Local, regional, national, international, and global marketers

  • Local marketers are concerned with customers that tend to be clustered tightly around the marketer.
  • Naturally, the total potential market is limited.
  • This may involve multiple manufacturing plants, a distribution system including warehouses and privately owned delivery vehicles, and different versions of the marketing "mix" or overall strategy.
  • As will become clear later in this book, massive adjustments are normally made in the marketing mix in various countries.
  • Global marketing differs from international marketing in some very definite ways.

• Global marketing: assessing potential markets overseas

  • Global marketing: assessing potential markets overseas Case: Toyota has a vehicle for every market
  • For example, in the United States roads tend to be wide; highways can accommodate a broad array of vehicles with a high number of lanes, and people demand a mix of cars based on their needs.
  • As the following table demonstrates, many decisions affect the marketing mix (NetMBA, 2008):
  • Still others argue that because few markets are comparable across country lines, it is necessary to adapt the marketing mix to ensure that sufficient customization exists to satisfy consumer needs in each market.
  • The marketing mix will appropriately vary as different circumstances dictate.

• The Promotion Mix

  • There are five (sometimes six) main aspects of a promotional mix: Advertising, Personal selling, Sales promotion, Public relations, and Direct marketing.
  • There are five (sometimes six) main aspects of a promotional mix .
  • Corporate image may be considered as a sixth aspect of promotion mix.
  • The Image of an organization is a crucial point in marketing.
  • New Media is also sometimes considered an element of the promotion mix.

• Mixed Economies

  • A Mixed Economy exhibits characteristics of both market and planned economies, with private and state sectors providing direction.
  • A mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
  • Most mixed economies can be described as market economies with strong regulatory oversight, in addition to having a variety of government-sponsored aspects .
  • While there is not one single definition for a mixed economy, the definitions always involve a degree of private economic freedom mixed with a degree of government regulation of markets.
  • Outline the plan behind and what governments provide in a mixed economy

• The Promotion Mix

  • A promotional mix is the term used to describe a business's total marketing communications program.
  • A promotional mix is the term used to describe a business's total marketing communications program.
  • Corporate image Corporate image may also be considered as the sixth aspect of promotion mix.
  • The Image of an organization is a crucial point in marketing.
  • Break down the promotional mix into advertising, personal selling, sales promotion, and PR

• The Benefits of Mixed Economies

  • A mixed economy allows private participation in production while ensuring that society is protected from the full swings of the market.
  • The US economy is best described as a mixed economy, because even though it strongly advocates free market principles, it relies on the government to deal with matters that the private sector overlooks, ranging from education to the environment.
  • The elements of a mixed economy have been demonstrated to include a variety of freedoms:
  • to communicate (free speech, newspapers, books, advertisements, make deals, create business partners, create markets)
  • Outline the characteristics of a mixed economy that help to maintain a stable economy

• The Disadvantages of Mixed Economies

  • The disadvantages of mixed economies can be understood through examining criticisms of social democracy.
  • One disadvantage of mixed economies is that they tend to lean more toward government control and less toward individual freedoms.
  • While most modern forms of government are consistent with some form of mixed economy, given the broad range of economic systems that can be described by the term, the mixed economy is most commonly associated with social democratic parties or nations run by social democratic governments.
  • Social democracy can also be contrasted with market socialism.
  • Examine the criticisms of social democracy as a vessel to understanding the disadvantages of mixed economies.