MARKETING MIX

06-09-16 cheapnisha 0 comment

INTRODUCTION

MARKETING MIX

       Marketing mix is the mainly concerned with the set of actions or strategies being utilised by an organisation to endorse its products or brand in the marketplace. The present report is been carried out with the intension to utilise marketing mix elements and design a marketing campaign for a new product launch. The report would be evaluating different aspects of the campaign to be designed for different segment of UK as well as abroad. It would also highlight the development in the ICT so that to attain a successful campaign. The campaign would be designed mainly for two different segment of organisation functional with different motives in the country.

TASK 1

Overview

            The company “Fresh and healthy” is been functional with its wide range of fruit juices throughout the country. The company acquires wide range of customer segments in the country but had recently experienced a downfall in its product demands in the segment. However focusing on the market research and the information, the company now intends to launch its new product range of fresh pressed juices in the market of United Kingdom and across the boundaries successfully.

            The non-profit organisation “The children’s society, is working with the motive to save the children from exploitation and make them liable to lead their living. The organisation had recently found that there is an increased number of cases of child abuse and labour in the country and had planned to introduce a new services for diminishing the cases specifically.

A). Elements of extended marketing mix

            Marketing mix is basically the combination of marketing activities which includes 4Ps such as product, price, place and promotion. However, with the emergence of different services in different products like intangible, perishable, heterogeneous, etc (Croker.et.al, 2012). more strategies required being concentrated and thus the three new elements such as people, process and physical evidence extended the marketing mix. The detailed evaluation of the extended marketing mix is follows:

  • Product: Products are the realistic things which are being provided to the consumers. In is an item which is been produced to fulfil the needs and wants of the people specifically. The product could be either tangible or intangible in the form of goods or services.
  • Price: This particular element is basically associated with the amount an individual pays in exchange of any of the products or services. It has been considered as the most important components of marketing mix. This element also determines the actual development of an organisation by presenting the graphs of profits and losses over the years (Belz and Peattie, 2009).
  • Place: Place is been mainly related with the channels of distribution and making the product reach till the customers. The issues related to the transactions, functions and the logistics are been evaluated and then decision to place the store for the products is been taken.
  • Promotion: This aspect of core marketing mix enables the organisation in promoting its products and services in an enhanced manner. The element assists in booting up the brand recognition and the making the product renowned among the targeted segment of marketplace. This element covers a wide range of areas to be approached by the organisation and promote the products and services effectively.
  • Physical evidence: With respect to the service industry, it is very important to have a physical evidence of the service delivery. The location of offering the products and services also acquires great significance over the marketplace.
  • People: With respect to introduce any of the product or services, it is very important for the organisation to conduct a market research and analyse whether there are enough number of people in the target market or not. It is required to find out the actual segment of people to be targeted for offering the product and services specifically (Andreasen and Kotler, 2008).
  • Process: Final P of extended marketing mix represents that the organisation acquires a well defined procedure so that to diminish the extra costs. It is very important for the organisation to have defined areas where the people could be approached in more effective way. The process must be clear and structured so that to ensure the effective functionality in the business.

 

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