The marketing mix are the variables the company puts together to satisfy the target group. The four elements of the market mix are Product, promotion, price and position. The product is an item or service that fits the need of the consumer, promotion is advertising selling researching the item or service to find the consumer. Pricing is giving the item or services a value that is attractive to the consumer, but at the same time increases the company's bottom line. The position is the channel of distribution, or the place to sell the item.
There are many ways to achieve the needs of the target customer. The marketing mix and its variables common focus is the need of the customer. The product is concerned with developing the right product for your target customer. The product can be a tangible or intangible item, goods or service, or both. The position is getting the right product visible in the right place.
A product isn't going to be successful if the right customer doesn't see it. The price has to be amount that will attract customers away from the competition, but it has to be beneficial to the profit for the company.
Promotion is the process with telling the target customer or others about the right product. Promotion includes personal selling, mass selling and sales promotion. Personal selling directs communication between sellers and customers. This usually happens face-to-face, or over the phone. Mass selling to communicating with a great number of peoples all at once, such as TV or newspapers. Sales promotion refers to other activities, which stimulates interest, trial, or purchase by final customers or others in the channel.
Two organizations that I am somewhat familiar with are Ben and Jerry's and Haagen-Dazs ice cream. These are two rival brands at the...