A Brief Overview of Marketing Mix

This topic introduces marketing management as a subject of its own. It is defined as the process of planning and executing a concept, pricing, promotion and place to satisfy a target group of customers and meet organizational objectives. During marketing, there are three kinds of goals that an organization aims at meeting which are, the satisfaction of customer needs, an increase in organizational profits and an increase in sales volume. Before establishing marketing management in a company, there must be objectives that the marketing management must intend.

These objectives include; creating new customers, raising the standards of living, making sure that the business is profitable, determining the marketing mix, and satisfying various needs of the consumer. Next, the organization must determine the steps to be followed in the marketing management process. These steps include analyzing the existing marketing opportunities, designing marketing strategies, planning marketing programs, organizing, controlling, and implementing marketing efforts, and exploring and choosing targets markets

Generally, marketing will mainly focus on two concepts, products and services.

In this case, a product refers to anything that a company can offer to a consumer for the sole purpose of use, consumption, attention, or acquisition in the aim of satisfying a particular need. On the other hand, service refers to an intangible activity which is intangible and is offered to satisfy some consumer needs. The marketing mix is another important factor that every organization must put in place when making sure that the marketing process is successful. The marketing mix is the term that denotes the four crucial combinations inputs that make up a complete marketing system.

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These inputs include place, product, price, and promotion and are commonly referred to as the 4p’sAlthough they are very effective, there are various factors that affect the 4p’s. These factors are brand policy, personal selling, physical distribution, and product planning.