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. around great is the selling mix made up of the quadruplet P-s, which ar the controllable variables in a merchandise system. The trade 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 authorize decisions to forgather those needs, better than the competition. The marketing concept relies upon marketing research to define market segments, their size, and their needs. To satisfy those needs, the marketing team must(prenominal) 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 summate to market pr oducts that satisfy those needs. The process of doing so cigarette be established in a series of travel. These steps expect: analysis of the situation to identify opportunities, the marketing st localisegy that is formulated, the decisions regarding the marketing mix, and the final implementation of the plan. Situation analysis serves as the base for identifying opportunities to satisfy unfulfilled customer needs.

In addition to the acknowledgment of these needs, a firm must understand its own capabilities and the environs in which it is operating. This analysis can be viewed in buzzer of both the externa l and the internal environments; the externa! l being the macro-environmental factors that may affect many firms, and the internal being the micro-environmental factors that are virtually 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 approximate of... If you expect to get a full essay, order it on our website: OrderCustomPaper.com

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