Marketing Mix Essay Example | Topics and Well Written Essays - 1500 words - 1

Marketing Mix - Essay Example The basic purpose however is to make a sale during all this while on the part of the marketing team coming under the organization’s umbrella. The elements of the marketing mix might not be applicable to every organization or product since there are discrepancies in the understanding of each and every product. However on the condition that all of these 4P’s create value for the end user is something to understand from. The 4P’s basically outline the exact basis for the know-how related with the product as the product itself is discussed which includes the brand mark or the house mark as well as the symbol. (Lazer, 1971) The aspect of price includes whether or not this product is sold in line with the industry’s other competitors or it is skimmed to a high price right at the very beginning of its induction in the market. At times, this product could be penetrated at a low price so as to ignite more sales but then again it could backfire since the product can have bad reputation and be considered of low value and hence a negligible brand image is conveyed nonetheless. Place is the distribution aspect rel ated with that product where the product is made available for the right target audiences. This includes the retail outlets, stores, mobile vans, corner shops and just about any place where it could be purchased from. It can even include the Internet since a lot of online sale is being done through it and hence could rightly be termed as a point of sale for the eventual end consumers. The promotional aspect, the last P amongst the 4P’s is related with marketing communications, which not only takes advertising, sales promotions and personal selling into its fold but also the aspect of word of mouth communication, with or without the creation of the opinion leaders and quite rightly so the public relations tenet. Now we move on with the aspects of the marketing mix in relation with each other. If there is no product, there would