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. nigh great is the market mix made up of the tetrad P-s, which ar the controllable variables in a trade system. The market Concept There be 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 demonst measure decisions to forgather those needs, better than the competition. The marketing concept relies upon marketing look to define market segments, their size, and their needs. To satisfy those needs, the marketing team must 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 contain to market products that satisfy those needs. The process of doing so cigarette be established in a series of travel. These steps involve: analysis of the situation to identify opportunities, the marketing strategy that is formulated, the decisions regarding the marketing mix, and the final implementation of the plan. Situation analysis serves as the blueprint for identifying opportunities to satisfy unfulfilled customer needs.

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

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