Marketing Mix

Essay by secondchildUniversity, Bachelor'sA+, November 2007

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Marketing Mix � PAGE \* MERGEFORMAT �6�

Running head: MARKETING MIX

Marketing Mix

Tiffany Nicole Jackson

University of Phoenix



John Kautenberger

05 July 2007



Marketing Mix

The American Marketing Association defines marketing mix as the mix of controllable marketing variables that a firm uses to pursue desired level of sales in a target market. The most common classification of these factors is the four-factor classification called the "Four P's": price, product, promotion, and place (or distribution).

Wikipedia's online free encyclopedia defines the marketing mix as the use and specification of the "Four P's" describing the strategic position of a product in the marketplace.

The textbook, Basic Marketing: a Global-Managerial Approach, states that a marketing mix is a component of a marketing strategy which also consists of a target market. A target market is a similar group of customers to which the company or firm wishes to appeal to.

A marketing mix is the controllable variables a company or firm puts together to satisfy a target group.

When developing a marketing strategy, you will need a target market and a marketing mix. You will need the marketing mix for the target market in order to determine how to satisfy a specific target group of customers. You will also need the target market to develop a marketing mix for a specific target group of customers. Basically these two components should factor each other.

A target market should be a homogeneous or similar group of customers. An example of a target market would be trying to market a service, a good, or a combination of both to a group of college students who live in dorms. If you change the parameters of the group to just college students it could be considered a mass market.

Now that you have...