Marketing Mix Paper

Essay by ChandsUniversity, Master's June 2006

download word file, 5 pages 5.0 1 reviews

A marketing mix is a marketing strategy, which consists of a target market. It specifies what a firm will do in some target market with a marketing plan, which includes the time-related details including expected costs and revenue-for that strategy. In most firms, the marketing manager must ultimately combine the different marketing plans into an overall marketing program. In other words, marketing mix is the way the four parts of a company's marketing policies are combined in order to achieve its objectives. It is also known as the 4 Ps. These are product, price, place and promotion. The way they are combined depends on the type of product and the nature of the competitors. This paper is about the marketing mix of Sony DVD and the affect of its competitors. Product

Product is about how it changed and how it will change over time in the future. Sony DVD players have changed a lot since they first were made.

They started off as very basic DVD players with not that many features on. Then they got things like JPEG still shots, multi-disc resume for 40 discs and they come in different colors and can be portable. They are also now able to record. Sony keeps trying to add new things to their DVD players so they stay ahead of the competition. Customers buy a product because they want to get something from that product, like the brand name and what the product is all about? Sony's product will need to change over time because the market is continually changing and so if they do not change and update their products, then its competitors will make newer and better models and they will take over. If Sony doesn't keep improving their DVD players then other companies like Panasonic will take over...