4 P’s of the marketing mix is an essential model of foundation in the field of marketing. The “marketing mix” is generally defined as the common elements of marketing techniques that an organization, brand or a company uses to establish its objectives and motives of marketing to accomplish its targets, limits, and goals. “Marketing mix case study assessment” plays a central and prominent role in maintaining the full four levels of decisions and choices made in the department of marketing in an organization, brand or a company.
The broad four levels are;
- Price
- Place
- Promotion
- Product
Hence “Marketing mix” is called the 4 Ps of the marketing. The theory of marketing established and was applied in the 20th century. The 4 P’s of marketing mix case study assessment plays a dominant and prominent role in the field of marketing. These 4 P’s were used and published in the year 1960. When it comes to the field of marketing in services, the elements of 4 P‘s is extended into 8 Ps with the following aspects.
They are;
- People
- Physical
- Process
- Performance
In the year 1990, the details of 4 C’s were applied as it was more customers based them the 4 P’s elements. Two theories of 4 C’s were put forth by the experts Lauterborn and Shimizu by their researches. These two 4 C’s are always considered as individual, different and separate from each theory. And this is followed till now.
The 4 C’s that were put forth by the expert Lauterborn are;
- Cost
- Consumer
- Convenience
- Communication
The 4 C’s that were set forth by the expert Shimizu are;
- Communication
- Commodity
- Cost
- Channel
The 4 Ps OF THE “Marketing Mix” by Our Case Study Writers
1.Product:
An item that is manufactured by the seller or the manufacturer of an organization, brand or a company with the primary purpose of satisfying the buyers’ or the customers’ need, expectations and requirements are called a product. It can be divided into two forms as goods and services. Before manufacturing a product, it’s essential to research the demand and hype for the product among the customers or the buyers. So, it is vital and necessary to do in-depth and useful research before beginning to manufacture a product in marketing mix Case Study Assignment Help. To develop a useful product, the manufacturer should think of these following factors of the product;
- Uses of the product for the customer or the consumer.
- Meets the customer or the consumer’s requirements.
- Features that is essential to be added.
- The attractive and catchy name for the product.
- Size and colour that will be suitable for the customer or the consumer.
- Eligibility to reach the customer or the consumer from the hurdles given by the competitors.
- Its different features from the competitor’s product.
- Products appearance and outlook.
Price:
Price plays a vital role in the selling and consuming rate of a product in marketing mix case study assessment. When the customer or the consumer buy the product, the first thing they check is if the price is appropriate or worth for the product or not. The price deciding process is essential as it plays a leading role in aiding for the company to survive. When setting a price for a product, these things should be remembered by the company, brand or the organization.
They are;
- The total cost of the amount needed to manufacture the product.
- The cost value that is considered and expected by the customer or the consumer.
- If you felt that the slight and minimal changes in the decrease in price could increase the total market value and share of the company, then go for it.
- The manufacturer should note if the product produced by them is capable of keeping up with the price of the competitor’s product.
Place:
Before deciding the placement or distribution of the product, the manufacturer should be aware of the strategies of distribution. They are;
- Intensive distribution
- Selective distribution
- Exclusive distribution
- Franchising
Before selecting the plan of delivery to the product, it is necessary to check these criteria. They are;
- Location where the customers look for the product.
- The type of store in which they choose to buy the outcome, i.e. mall, stores, etc.
- It’s level of accession.
- The importance to sell the product online.
Promotion:
Promotion is the process that plays a leading role in making the product reach the customers within a region or in international level, In other words, and it is the form of advertising the products. Here are some of the tips for a company to create an active promotion;
- Sending of marketing messages to customers.
- Creative television ads.
- Social media promotions.
- The timing or season to promote.
The 7 Ps OF THE “MARKETING MIX”
People:
While manufacturing a product, it is essential for the manufacturer or the seller to consider the expectations and limitations of the customers or the buyers. And the demand for the product among the people should be researched too. Only then the company, brand or the organization will be able to reach the target of the sales of the product.
Process:
The processes and the system followed by the organization or the company contain the tendency to directly influence the executing way of the product or the service. The product is manufactured expertly so that so that the costs for the production and manufacturing purpose could be reduced. If not, this could tighten up the business costs and budget of the organization or the company.
Physical evidence:
In the field and department of the industries related to service, physical evidence should be collected so that it could be considered and provided as valid proof of the delivery of the product. The physical evidence of the product decides it perceives opinions among the customers or the consumers in the marketplace. It is the step for developing the establishment and presence of the organization or the company.
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