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. closely great is the merchandise mix made up of the iv P-s, which ar the controllable variables in a trade system. The merchandise 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 gene identify decisions to forgather those needs, better than the competition. The marketing concept relies upon marketing investigate 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 take away to mar ket products that satisfy those needs. The process of doing so cigarette be established in a series of travel. These steps contract: 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 world for identifying opportunities to satisfy unfulfilled customer needs.

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

If you want to get a full essay, visit our page: write my paper