Marketing Mix

Essay by PeachyJourneyUniversity, Bachelor's September 2004

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Marketing Mix

The key to gaining the attention of potential customers is the development of community marketing, not a selling approach. Marketing is a continuous, coordinated set of activities associated with efficiently distributing products to high potential markets. It involves making decisions about product, price, promotion, and distribution. Marketing focuses on providing customer benefits and satisfying needs better than the competition.

It is based on the principle that consumer-buying resistance will be overcome if the product satisfies buyer needs. In the following paragraphs I will describe the four elements of the marketing mix and how each element is implemented within TD Travel Group, a profit organization. I will explain how the four elements relate to TD Travel Groups marketing strategy. TD Travel Group's product offering is tourism.

A target market consists of a group of customers at whom the seller directs a marketing program. Target market selection must be based on careful analysis of market opportunities.

Usually the selection process involves some form of research and market segmentation. When target markets have been selected, the company can then proceed to the next step in strategic marketing planning - designing an appealing Marketing Mix. TD Travel Group's target market is any business in the North West area with any sort of travel needs.

The combination of the four primary elements that comprise a company's marketing program is termed the marketing mix. The design, implementation and evaluation of the marketing mix constitute the bulk of a firms marketing effort. The marketing mix is the organization's overall offer, or value, to the customer. The basic marketing mix is often nicknamed "The 4Ps", which consists of product, place, pricing, and promotion (Dibb and Simkin, 1994). TD Travel Group focuses on marketing rather than selling. They realize that the organization as a whole needs...