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Elements of the Marketing Mix xxx MKT 421 xxx xxx
The customer is who is targeted by the marketing mix. Planning marketing management in an effective way is the best way to ensure that your marketing operations are successful. making plans for marketing. The marketing mix can be described in terms of the Four Ps. and then creating a market mix that will appeal to the target market. though many people have this perception. and price. evaluating new opportunities. Creating the market strategy is an important part of planning marketing. promotion. place. The customer is not a part of the marketing mix. and coming up with marketing programs. Marketing planning means setting goals. The marketing mix and the elements of that mix are the key components of the organization's marketing plan. “The basic reason to focus on some specific target customers is so that you can develop a marketing mix . Developing the market strategy is begun by targeting the intended market for a service or product.ELEMENTS OF THE MARKETING MIX 2 Elements of the Marketing Mix High-performance organizations today know that their marketing is a key part of their success or failure. crafting marketing strategies. These are product.
This fits the company's marketing strategy.” Branding.ELEMENTS OF THE MARKETING MIX 3 that satisfies those customers’ specific needs better than they are satisfied by some other firm (William D. Sikorsky knows that their customers expect safety. and they have particular needs and wants in the products that they buy. Sikorsky has several kinds of helicopters and they are presented and outfitted with different types of trim to suit their different target audiences. The product could be a service. and good service. A channel of distribution is any series of firms (or individuals) that participate in the flow of products from producer to final . Perreault. or both.” The Element of Product The “product” in the marketing mix means coming up with the right product for the targeted audience. installation and warranties are also considered part of the product element of the marketing mix. 2009). so they take all of these aspects into account with their product. Sikorsky Aircraft is one of the leaders in the rotary aircraft industry. good. A product is not simply physical goods. Perreault. The Element of Place The element of Place in the marketing mix is everything that it takes to deliver the product to the target market. Sikorsky's customers are commercial and military operations. “For example. The important thing to remember is that your good or service should satisfy some customers’ needs (William D. Their product is a major part of their marketing mix. “A product reaches customers through a channel of distribution. packing. because Sikorsky needs to develop different products for different missions. the Product of H & R Block is a completed tax form. quality. 2009). The Product of a political party are the policies it works to achieve.
or services by an identified sponsor. trial. Sikorsky Aircraft sells direct. Mass selling is communicating with large numbers of customers at the same time. 2009). Sometimes a channel of distribution is short and runs directly from a producer to a final user or consumer. Some clients. Sales promotion refers to those promotion activities— other than advertising. Promotion is how the organization communicates with the different players in the distribution channel.ELEMENTS OF THE MARKETING MIX 4 user or consumer. Perreault. The organization's market manager is in charge of ensuring the effectiveness of market communication. and personal selling—that stimulate interest. This is common in business markets and in the marketing of services (William D. come to the Connecticut Sikorsky flight field to attain the product and fly it away. goods.” Some organizations do not sell their product directly to their customers. “Personal selling involves direct spoken communication between sellers and potential customers. especially the military. These intermediaries can be called dealers or resellers. Commercial and private customers use freight transportation to receive their product. and it is the organization which is the end of a distribution channel. or purchase by . personal selling. Promotion primarily aims to tell the target market what they need to know about the product. but they use retailers to get their products into the hands of consumers. Mass selling. The way that customers take delivery of these products is determined by the contractual agreements made before the time of sale between the company and the customer. straight to the consumer. The Element of Promotion Promotion is the third P in the marketing mix. Retailers sell items or services to customers. before the product's end user. The main form of mass selling is advertising —any paid form of non-personal presentation of ideas. publicity. and sales and promotions are different aspect of promotion.
“A manager must also try to estimate customer reaction to possible prices. The product's price must be set in a way that is consistent with the prices of competing products and companies. novelties. and circulars (William D. the manager must know current practices as to markups. And if . discounts. point-of-purchase materials. Besides this. contests. but they can still create and market high quality products.” Sikorsky Aircraft’s marketing mix uses promotion heavily to move their products.ELEMENTS OF THE MARKETING MIX 5 final customers or others in the channel. and it is Sikorsky's flagship helicopter. through the quality of their product. The UH-60 Blackhawk is famous for being the US Army's “workhorse” helicopter. The Element of Price Price is the last P in the marketing mix. Sikorsky Aircraft keeps its prices at a level where they are competitive. The internet is a good way for all kinds of organizations to sell their products. Perreault. and other terms of sale. Almost every advertisement for the US military features this helicopter. For example. as well as the overall cost of the marketing mix. which tells customers all of the information about the company and about the available range of their products. samples. and their customer's opinions. This can involve use of coupons. Each branch of the US military buys variants of the UH40. Sikorsky uses their ties to the armed forces. including the Coast Guard. to ensure that customers are excited about their products. catalogs. Sikorsky has taken advantage of this possible opportunity by launching their new website. events. 2009). high to keep people interested in their aircrafts. signs. Sikorsky keeps their level of publicity.
Perreault. Retrieved May 2nd. 2009). The Marketing Mix (The Four P's of Marketing). from Net MBA: http://www. and keep their existing customers excited about and loyal to their products. J. References (2010). Perreault. from Sikorsky Aircraft Company Website: www.sikorskyaircraft. and the Four Ps are all a part of the marketing mix. Inc. . 2010.netmba. (2007).” Conclusion The marketing mix is how an effective marketing strategy is built.com Net MBA. New York: McGraw-Hill/Irwin. Using the marketing mix effectively helps organizations everywhere find their customers. a business unit of The McGraw-Hill Companies.ELEMENTS OF THE MARKETING MIX 6 customers won’t accept the Price. 2010. Retrieved May 2nd. None of the different aspects are more or less important than the others. A Marketing Strategy Planning Approach. (2009). Basic Marketing. speak to them. as they are linked and create a coherent marketing mix together. all of the planning effort is wasted (William D.com/marketing/mix/ William D. P.
ELEMENTS OF THE MARKETING MIX 7 .
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