The Marketing Mix

Abstract The concept of market is very broad. There ar many a(prenominal) things to consider when effectively introducing a product into the market. close to great is the market mix made up of the quaternary P-s, which ar the controllable variables in a merchandise system. The merchandising Concept There atomic number 18 many definitions of marketing. The better definitions are focused upon customer penchant and satisfaction of customer ask. The marketing concept is the philosophy that firms should crush the needs of their customers and then create decisions to forgather those needs, better than the competition. The marketing concept relies upon marketing seek to define market segments, their size, and their needs. To satisfy those needs, the marketing team moldiness make decisions about the controllable parameters of the marketing mix. Under the marketing concept, a firm must take note a way to discover unfulfilled customer needs and lend to market products tha t satisfy those needs. The process of doing so cigarette be established in a series of travel. These steps relate: analysis of the situation to identify opportunities, the marketing st tellgy that is formulated, the decisions regarding the marketing mix, and the final implementation of the plan. Situation analysis serves as the conception for identifying opportunities to satisfy unfulfilled customer needs.

In addition to the reference of these needs, a firm must understand its own capabilities and the environment in which it is operating. This analysis can be viewed in cost of both the external and the in ternal environments; the external being the ! macro-environmental factors that whitethorn affect many firms, and the internal being the micro-environmental factors that are some related to a firms specific situation. The situation analysis should acknowledge past, present, and future aspects; it should include a history outlining how the situation reached its rate of flow state, as well as a count on of... If you expect to get a full essay, order it on our website: OrderCustomPaper.com

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