The marketing mix
The term marketing mix became popularized after Neil.H.Borden published his 1964 article titled ‘The concept of the marketing mix’. Borden began using the term in his teaching in the late 1940’s after James Cullington had described the marketing manager as a ‘mixer of ingredients’. The ingredients in Borden’s marketing mix included product planning, pricing, branding,distribution channel, personal selling, advertising, promotion, packaging, displaying, servicing, physical handling, fact finding and analysis.
E.Jerome Mc Carthy later grouped these ingredients into four categories that are today known as 4 Ps :
When marketing their products, firms need to make the successful mix of the right product, sold atthe right price, in the right place, using the most suitable promotion.
The marketing mix is the balance of marketing technics required for selling th eproduct. To create the right marketing mix, businesses have to meet the following conditions :
- the product has to have the right features, for ex : it has to look good and work well. The product has to be appropriate to the market segmentsthe firm is trying to sell to. In the past, many firms were product oriented, which means that all their effort was focused on marketing the product. There was little flexibility for individual customers or segments of the market. Firms now tend to be market oriented ; this means that they are flexible and adaptable to the demand of the market. They aim to change the product as necessary tosatisfy their customers.
- The price must be right. Consumers will need to buy in large numbers to produce a healthy profit. The price of the product, particularly the price compared to the competitors, is a vital part of marketing. There are two possible pricing technics :
• market skimming : pricing high but selling fewer
• market penetration : pricing lower to secure ahigher volume of sales.
- place : the goods must b ein the right place at the right time. This part of the marketing mix is all about how the product will be distributed. Current trends are towards shortening the chain of distribution.
- Promotion : it may take the form of point of sale promotion, advertising (sponsorship for ex). the target group needs to be made aware of the existence andthe avaibility of the product through promotion.
Th emarketing mix of Manchester United and of some multinationals
What are the main elements of the marketing mix of Manchester United ?
Fisrt of all, the product which includes providing an excellent football team, however there are other ingredients of the product including merchandising such as the sales of shirts and a range of souvenirs.The product also relates to TV rights and Manchester United own TV chanels. Th eplace is Old Trafford where home games are played and of course its products are sold accross the word, through the club’s website and other sales media. The club also engages in a range of promotional activities.
Ex : with the mobile phone company : Vodaphone.
As for Kellog’s, it sells a global product i.e. the samefor different markets, regardless of existing local referencies. Kellog’s tries to change consumption paterns instead of adjusting to them. In other words, it offers one standardized product everywhere.
Coca Cola on the contrary has a different strategy ; it changes the flavour of its drinks to conform to locall tastes, just like Mc Donald’s for ex, which sells hamburgers without ham in muslimcountries. The same differences in product strategies are also to be found in adrvertising. Rolex, for ex, has the same advertising message for all markets. The advantage can be lower costs.
Cl : The marketing mix consists of the various elements of a marketing program, their integration and the amount of effort that a company can expand on them in order to influence the target market....
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