The elements of successful marketing include the 4P's Product, Place, Price and Promotion. These essential elements are the main headlines to the series of questions that must be answered in order for a company to operate successfully within their respective market. The following paper will describe the underlying elements of the marketing mix, and examples from my chosen industry.
What is Marketing Mix?
According to an excerpt from Marketing Teacher, “The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan. The concept is simple. Think about another common mix - a cake mix. All cakes contain eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of mix elements contained in it. So for a sweet cake add more sugar” (Marketing Mix, 2000).
[...] Careful adherence to the elements of the marketing mix, and a mindful watch on how your business is operating are the cornerstones to a successful and profitable operation. References Duemyer, Randy. (2008). Marketing Mix. Retrieved on December 5, 2008, from http://homebusiness.about.com/od/homebusinessglossar1/g/marketing-mix.htm New Biz Advisor. (2008). Marketing Mix. Retrieved on December 5, 2008, from http://www.freeworldacademy.com/newbizzadviser/fw15.htm Marketing Mix. (2000). What is Marketing Mix. In Marketing Teacher 2000. Retrieved December 5, 2008, from http://www.marketingteacher.com/Lessons/lesson_marketing_mix.htm Perreault, William D. Jerome E. McCarthy. (2004). Basic Marketing: A Global- Managerial Approach, Chapter1. Retrieved on December 5, 2008. [...]
[...] What is Marketing Mix? According to an excerpt from Marketing Teacher, “The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan. The concept is simple. Think about another common mix - a cake mix. All cakes contain eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of mix elements contained in it. So for a sweet cake add more sugar” (Marketing Mix, 2000). [...]
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