Marketing Mix Assignment Help| Management Assignment Help
In this Marketing Mix Assignment Help experts . we have define the 4P’s of the marketing mix: product, pricing, placement, and promotion and also our marketing assignment help explained that why are these elements so important to marketers.
4Ps of marketing mix are as follow:
Product: In this element, core and supplementary features of products or services are used to form augmented products or services.
Price: Price is the value taken in exchange of product or service. It is determined on the basis of fixed to variable cost ration, input and output variables.
Placement: Placement element decides availability and accessibility of products and services on the basis of coverage, customer contact and intermediaries.
Promotion: Promotion element of marketing mix uses several tools and tactics like advertising, sales promotion, publicity, personal selling and direct marketing to sell the products to customers.
Importance to Marketers
These elements of marketing mix are so important to marketers due to their manifest role in marketing process. With the help of marketing mix elements, the marketer formulates customized strategies as per the needs and demands of target market. In my opinion, no one element is more important than other element of marketing mix to the marketers. It is so, as all elements are equally important to the success or failure of any product or service in the market. Like, if the product features and pricing are set effectively, but improper promotion and placement will affect their awareness among target market.
Impact of Marketing Mix Elements
Product: Product element of marketing mix had a biggest influence over the purchasing of mobile phone and handbag at multiplex. Due to the product features like camera, sound quality and slim body, I brought mobile phone of Samsung. Similarly, design of handbag also attracted me a lot that resulted into final purchase of handbag of Highdesign brand. The features that attracted me most to buy the handbag was its color, space, material, handling capacity etc. All these features influenced my purchasing decision greatly.
Product and Price: Price element had also influenced my shopping. Due to the pricing of Juicer, I brought that from a retail store located in a multiplex of city. There were variety of juicers available of different brands, but the pricing of each brand was different, so I compared the pricing on the basis of product features and found that juicer of Morphy Richards was good as compared to other juicers in terms of its product features and pricing.
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