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Essay / Marketing Case Study - 764
Marketing Case StudyMarketing Mix: The term marketing mix is used to describe all the options available to the marketer in order to market a particular good or service. It is often called the 4Ps (i.e. product, place, promotion and location). The product variable: This aspect of the marketing mix concerns researching consumers' product desires and designing a product with the desired characteristics. It is a very important element of the marketing mix because it directly involves creating products and services that satisfy consumers' needs and wants. The Place Variable: To satisfy consumers (i.e. their needs and wants), products must be available at the right time and in a convenient location. In dealing with the place aspect, a marketer seeks to make products available in desired quantities to as many consumers as possible. The promotion variable: This aspect concerns the methods used to inform one or more groups of people about an organization and its products. . Promotion may aim to increase public awareness of an organization and new or existing products. It can also be used to educate consumers about product features or to get people interested in that product. The pricing variable: This aspect of the marketing mix concerns the activities associated with establishing pricing policies and determining product prices. Price is a critical part of the marketing mix because consumers are concerned about price....