Businesses often use something known as the marketing mix to help them. The marketing mix is also referred to as the 4 Ps, meaning product design, price, place, and promotion. For a business to meet its consumers’ needs it needs to develop products that will please them, charge an appropriate price, distribute the products to the right place, and promote its products.I think it will be more helpful to everyone for us to briefly discuss each aspect in a little more detail:Product
Should satisfy consumers wants and/or needsNeeds to do what they claim it will doNeeds to look good and clearly display benefits on the package
Price
Needs to be appropriate to the product/service to attract the segment of the market they wantShould reflect the product’s advertised imageShould be within range of already established price points of competitors if any
Place
Need to have a reliable way to transport and store products to ensure they are available for the consumerRight product needs to be at the right place at the right timeIncreases the odds for the product to be purchased by consumers
Promotion
Need to communicate with consumers to create valueProvides information that will help them make an informed decision to purchase a product or not
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Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.Attempt APA style, see example below.Use font size 12 and 1” margins.Include cover page and reference page.At least 60% of your paper must be original content/writing.No more than 40% of your content/information may come from references.Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
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