Running Header: MARKETING MIX PAPER Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½1Ã¯Â¿Â½ MARKETING MIX PAPER Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½2Ã¯Â¿Â½
Instructor: Ron Stirpe
28 April 2014
Marketing Mix - Introduction
A marketing strategy provides a big picture of what a company can do in a specific market. When creating a marketing strategy, a company must identify a target market and a related marketing mix.
"To find the best marketing strategy and mix, the company engages in marketing analysis, planning, implementation and control." (Armstrong & Kotler, 2011) A typical marketing mix includes "some product, offered at a price, with some promotion to tell potential customers about the product, and a way to reach the customer's place." (Perreault, Cannon, & & McCarthy, 2011) Breaking down the marketing mix into these four basic elements product, price, promotion, and place helps simplify the selection of marketing mixes that will target the customers.
"Components of each marketing mix element are combined to provide a cohesive marketing program." (Kerin, Hartley, & & Rudelius, 2011)
This essay will describe the elements of the marketing mix. Partylite is the organization selected for this essay and will be used to description how the four elements affect developmental marketing strategy. An explanation of how each part of the marketing mix is implemented and what industry that Partylite exist is present.
Partylite has been around for over a century, its origins began in 1909, when a schoolteacher named Mabel Baker began simply by making bayberry candles in her Cape Cod kitchen. From the first candles in 1909, to the inception of the company now called Partylite that emerged in 1973 and has since become the world's #1 party plan company selling candles, candle holders, flameless fragrance and wax warmers, as well as holiday and home dÃÂ©cor in...