Topic: Elements of marketing
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Elements of a Marketing Plan Elements of marketing
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Neil Borden in the year introduced the term Marketing mix, an extension of the work done by one of his associates James Culliton in Marketing Mix - A mixture of several Elements of marketing and plans followed by a marketing representative to promote a particular product or brand is called marketing mix. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix.
A product in a market place is something which a seller sells to the buyers in exchange of money. The money which a buyer pays for https://amazonia.fiocruz.br/scdp/blog/purdue-owl-research-paper/oil-spill-essay.php product is called as price of the product.
The price of a product is indirectly proportional to its availability in the market. Lesser its availability, more would be its price and vice a versa. Retail stores which stock unique products not available at any other store quote a higher price from the buyers. Place refers to the location where the products are available and can be sold or purchased.
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Buyers can purchase products either from physical markets or from virtual markets. In a physical market, buyers and sellers can physically meet and interact with each other whereas in a virtual market buyers and sellers meet through internet.
Elsments Promotion refers to the various strategies and ideas implemented by the marketers to make the end - users aware of their brand. Promotion includes various techniques employed to promote and make a brand popular amongst the masses. Billboards, hoardings, banners installed intelligently at strategic locations like heavy traffic areas, crossings, railway stations, bus stands attract Elements of marketing passing individuals towards a particular brand.
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One satisfied customer brings ten more customers along with him whereas one dis-satisfied customer takes away ten more customers. Positive word of mouth goes a long way in Elements of marketing brands amongst the customers. People - The individuals involved in the sale and purchase of products or services come under people. Process - Process includes the various mechanisms and procedures which help the product to finally reach its target market. Now a days, organizations treat their customers like kings. Robert F.
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