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

The marketing mix.

Extracts from this document...


The marketing mix has several specific targets that can all collate together. (Jobber 2001) Suggests the strength of the four P's approach is that it represents a memorable and practical framework for marketing decision making. This can help to keep staff motivated and moving in the same direction but to many people it oversimplifies the reality of marketing management in the 21st century. (Gronroos 2002) Such a product based strategy can lead to a seemingly strong base product well advertised not leading to short or long term profitability because it is not exactly what the customer is looking for. In the 21st century customer expectation has become higher than ever and with more purchasing freedom of choice than ever before the job of attracting and retaining customers has become more and more difficult. ...read more.


Tesco's and Dunnes Stores for example done away with there loyalty card for customers as it was costing too much to run with little tangible long term benefits for the company. (Jobber 2001) Companies must therefore try to distinguish between profitable and non-profitable relationships as the short term costs of creating these relationships can be quite high. The marketing mix strategy can also have similar problems of hefty upfront costs. It is aimed at a target market which has usually been defined by market research. In depth and accurate market research is usually costly but can be very effective. Some companies that are particularly competitive in one of the four P's can often be very effective at attracting new customers. German supermarket chain Aldi compete mainly on low prices and this can be a key motivating factor in drawing new customers particularly in times of recession. ...read more.


The characteristics and priorities of this target market are such that a marketing mix strategy with a robust promotion and place policy are likely to prove successful but it has also proven that this approach can also then be fused with a relationship marketing strategy to then develop the company's place in the market. This is not true of every market. Priorities are very different in areas such as the five star hotel industry or the luxury car market. Quality of service is paramount and in this area relationship marketing is especially strong.(Kotler 2001) Every guest at the Ritz has there own personal created so a preference for say a foam pillow noted in its Montreal hotel will be provided for months later in the London Ritz. Such relationship building creates a strong customer loyalty in the long term. (Buttle 1996. P.5) Notes a cross industry trend 'Sales and profits per account increase the longer the relationship lasts'. ...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. Marketing mix

    But it provides the service of transportation. Furthermore, economic concept of supply and demand and costs are difficult to apply to services because of their intangible nature. A service is rendered. A service is experienced. Unlike goods on the shelf of the shop, a service cannot be stored on a shelf, touched, tasted or tried on for size.

  2. Marketing Thorpe Park and London Dungeons.

    classified advert is normally put into a newspaper by an individual and is expressed solely in words and numbers. * A display advert is where space is bought in the newspaper or magazine and can be filled with words and/or pictures. Display adverts have more impact, but are more expensive.

  1. Produce a marketing strategy for a new or existing product

    Most products have a limited life cycle. Initially the product may be successful and grow, the market will mature and, finally, the product moves towards decline and petrifaction. At each stage in the product life cycle there is close relationship between sales and profits so that, as Cosmopolitan goes into decline, their profitability decreases too.


    lasting relationship value. This implies ? higher level of obligation to make ? relationship succeed and to be mutually satisfying and beneficial (Gundlach et al., 1995, Morgan and Hunt, 1994, pp 23-90). Since commitment is higher among people who believe they receive more value from ? relationship, highly committed clients must be willing to back th?

  1. creating a marketing proposal

    The ultimate air, of course, is to persuade them to buy those products. Promotion is an important part of the marketing mix and businesses can use a variety of different types of promotion. Advertising Advertising is a means by which businesses pay for communication with actual and potential customers through newspapers, television, radio, the Internet and other media.

  2. I have been asked to produce a marketing strategy for an existing or new ...

    Did you buy your present car when it was new? (Please tick the appropriate box) Yes ( No ( This will question will enable me to know how a customer bought their car. This will then allow me identify the things that detract a second hand car buyer from buying a new car.

  1. Marketing Mix

    Shopping carts on the internet required a degree of Internet knowledge to pull it off and building consumer confidence can prove a tricky business. Direct to retailer If you don't want the expense of opening and running your own retail outlet to sell to your customers, then you might consider selling to existing retail outlets.

  2. marketing study - biolife

    These professionally specialised individuals may include homeopaths, chiropractors, physiotherapists, reflexologists, osteopaths, massage therapists, medical doctors, surgeons, dentists etc. Apart from that, Bio-Life Ltd also seeks to reach out to consumers coming for the middle to upper income group. For the fact that Bio-Mag is a highly specialised product containing vast

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