• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Marketing Mix

Extracts from this document...

Introduction

Marketing Mix Marketing Mix: Marketing mix is simply a technique used to promote a product or a service, which can consist of many factors such as advertising, pricing, packaging, labelling, branding and boosting the product/service provided. Marketing mix is applied to most, if not all products and services provided by any company in the private sector, with the aim of increasing sales or demands for a specific product/service. Companies use marketing mix techniques to increase sales on certain products. E.g. they may use "Premium Pricing" on certain products and services. This means that the product or service will have a very high price, however, it will be worth it as the product or service may be unique, luxurious or may have a special designing and etc. Premium pricing is always aimed at higher class people who would be able to afford such products services, and any high street stores would also be located in a posh area. Marks & Spencer is a typical example of a company which uses premium pricing, as their products are considerably higher than other average or unpopular brands. However the quality of their products is also higher, and although the prices more expensive the company still manages to make profits. ...read more.

Middle

By doing this companies may boost sales, which can eventually be turned into more profits. Apple is a very common example of a company that has been able to do this through one of its products, i.e. "IPod". IPods have been launched many times, with new applications, features, sizes, colours and etc increasing and boosting Apple's sales. Products such as mobile phones, cars, computers and most products that may be involved with technology are normally known to have a "product life cycle", which can be seen in the picture below: Application of Marketing Mix: For my description of how marketing mix is applied to products of companies in the same sector I chose two mobile companies, O2 and Vodafone. O2 and Vodafone offer a range of products and services to their customers, e.g. pay as you go mobile phones, monthly pay mobile phones, broadband internet and etc. The product I have chosen is a Sony Ericsson C902 Titanium brand new high tech mobile phone, which is available in both companies for sale and for contract at different prices and deals. Vodafone as well as O2 may use marketing mix to increase demands for the phone, and even beat each other in the number of sales and contracts recorded. ...read more.

Conclusion

all promises about that particular product must be kept and no misleading detail about it should be advertised. Again if it is proven that they have given any misleading detail about that particular product, customers can personally take legal actions against that company, which could eventually lose them money and customers loyalty, as well as damage to its reputation. The Trade Description Act is another drawback for O2 and Vodafone, as sometimes they may give misleading or very short descriptions of the service they provide. Although some companies do this people do not normally take legal actions against them, however this can still cause damage to their image as well as loss of customers' loyalty. Distance Selling Regulation is another main constraint for companies that provide distant customers with products or services. They must show all details about each product or service available, how and when it is going to be delivered or available for collection, if customers will be entitled to a full refund if they are not happy with the product, and most importantly companies must make sure to all customers how safe their details will be with them. If companies do not provide enough information about them, the product or service and delivery availability, customers may choose to shop somewhere else where they think may be better for them. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Analysis of the current strategic situation facing Marks & Spencer.

    Today M&S is operating in a highly competitive market where buyers have a relatively high percentage of disposable income and are spending large amounts. This gives them high bargaining power especially since they are well informed about competition and so it is important to use the most cost effective suppliers to be able to save costs and increase profit.

  2. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    If a company has too many dogs it has a high risk of failure as it has no products for the future. The old A6 was a dog so the company decided to divest and focus on new products. This is important to keep the future prospects of Audi good.

  1. Marks & Spencer

    The aim of marketing is to have, the right product, at the right time, at the right place, and at the right price, and also to understand the customer needs, by which it could be met. Principle of marketing: Understanding customer needs: Identifying customer needs is important for any organisation,

  2. Marketing mix

    the product as meeting a specific need of the target group. Hence, the concept of 'Marketing Mix' emerged. The 4Ps are the controllable marketing-mix variables that a marketer can manipulate to get the desired results. The marketer plans various means of competition and blends them into a "marketing mix" so that a profit function is optimized, or rather satisfied.

  1. Business GCSE Unit 1, A1

    When these are submitted the company can then go ahead and start trading. Advantages for Cadburys: * Shareholders have limited liability and can therefore only loose money they have invested into the business. * Cheaper borrowing and bulk purchasing. * Cadburys company name is protected.

  2. For this project I have been instructed to come up with a marketing strategy ...

    workplace and outlet stores, all of these are illegal and can leave companies in big legal trouble. The governmental bodies in the U.K have introduced new laws into the business environment, which ensure that none of these procedures take place; if a company is to be successful they must follow all of these laws.

  1. The Marketing Mix for Last Minute.com

    You cannot make a customer pull out their credit card, but you certainly help them in coming to a decision by setting the right price, the retail location, the level of advertising and even the product attributes such as colour or perceived quality.

  2. Telemarketing Project

    It has made Telemarketing more efficient and created the capability to provide more personalized service. In addition, it also provides huge employment opportunities for those who have the skills to enhance customer relations. Computer assisted Telemarketing systems, predictive dialing, and enriched databases are just a few of new developments.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work