History of the Phrase.doc

History of the Phrase Marketing Mix The term marketing mix became popular after Neil H. Borden published his article The Concepts of the Marketing Mix in ! #. $n this article Borden explains ho% he first began using this term in the late !#&'s after (ames Culliton described the marketikng manager as a mix of ingredients . These ingredients in Borden's teachings included product) planning) price) branding) distribution channels) personal selling)
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  History of the Phrase Marketing Mix The term marketing mix became popular after Neil H. Borden published his article TheConcepts of the Marketing Mix in !#. $n this article Borden explains ho% he first began using this term in the late !#&'s after (ames Culliton described the marketikngmanager as a mix of ingredients . These ingredients in Borden's teachings included product) planning) price) branding) distribution channels) personal selling) ad*ertising) promotions) packaging) display) ser*icing) physical handling) and fact finding analysis.These ingredients %ere later grouped by +. (erome McCarthy into four categories %hich%e no% refer to as the four p's of marketing ,NetMB- &&/0. The four p's of marketingmake up the marketing mix %hich is probably the most %ell kno%n of all the marketingterms. $ts elements are the basic) tactical components of a marketing plan. The four p's)of the marketing mix elements are product) place) promotion and price ,Marketingteacher &&!0. These four elements create the marketing mix %hich impacts thede*elopment of any organi1ation's marketing strategies and tactics. The concept issimple. Think about a cake and the components of a cake. There are certain ingredientsthat are re2uired but one can alter ho% much of each ingredient is added. The same goes%ith marketing.The four p's are re2uired but depending on the organi1ation there may be more emphasison one and less on another. But one thing remains the same) all four p's are necessary. The ma3ority of people use the four p's but some %ill use the fi*e p's and add people.4thers may e*en go up to se*en and add people) physical e*idence ,such as uniforms)facilties) or li*ery0 and process ,NetMB- &&/0. The organi1ation that has been selectedis the 5ondoner. The 5ondoner is an +nglish pub and %ould be considered in the ser*iceindustry. This paper %ill be defining the marketing mix as %ell as ho% the four p's impactthe de*elopment of the 5ondoner's marketing strategies and tactics.The first of the four p's of marketing is product. The product is the physical product or ser*ice offered to the consumer. $n the case of physical products) it also refers to anyser*ices or con*eniences that are part of the offering. Product decisions include aspectssuch as function) appearance) packaging) ser*ice) %arranty) etc ,Marketing Mix &&!0.6enerally speaking) %hen people think of the product they do not think about e*erythingthat must be done in preperation for the product to be sold. 7ith any product) ho%e*er)the goal is to satisfy consumers needs. The name of the product is crucial %hen trying tosell to people. The name of the organi1ation one has chosen is the 5ondoner . 7hen   people hear the name they autimatically think of 5ondon) +ngland. 7ith this in mind) theo%ners decorated the +nglish pub 3ust as +nglish pubs actually are. 7hen people %alk into the 5ondoner they feel as if they are in 5ondon. There are many signs of 5ondon) thelighting is dim) and the furniture is rustic.Then there is the goods that are offered. Being an +nglish pub there are a *ariety of different +nglish beers such as) 8ullers) Boddingtons) 6uiness) 4ld 9peckeled hen an soon. There is a *ariety of different types of food on the menu as %ell. The ma3ority of themenu is $ndian food) %hich is considered +nglish food. Many people are not a%are of thestrong $ndian roots that +ngland has but they do. 9o by honoring +ngland the menu hasitems such as Bangers and Mash) 9hepards Pie) Chips and Curry) and Chicken TikiMasala 3ust to name a fe%. :eeping %ith the theme of 5ondon) the 3uke box also hasfamous +nglish bands on there such as The Beatles) The 7ho) The ;olling 9tones andmany more. Being an +nglish pub) many of the customers are +nglish themsele*es.-nother part of the packaging of the 5ondoner is that they sho% all the soccer games%orld %ide. This is a *ital part of the 5ondoner's marketing strategy. Many bars around<allas tend to only sho% the most popular sports in the =nited 9tates. 9eeing ho% soccer is not as popular as football in the =nited 9tates most places do not sho% it. 7hat poepledo not reali1e is that soccer is the most popular sport in the %orld. The 5ondoner is a%areof this and they sho% all the games. 9ince the 5ondoner is one of the only places thatsho%s all the soccer games) poeple come from all o*er the metroplex to %atch the gamesand spend their money. The best part about the 5ondoner sho%ing these games) is thatunlike e*ery other sport) soccer goes year round.The second element in the marketing mix is place. Place ,or placement0 decisions arethose associated %ith channels of distribution that ser*e as the means for getting the product to the target customers. The distribution system performs transactional) logistical)and facilitating functions. <istribution decisions include market co*erage) channelmember selection) logistics) and le*els of ser*ice ,Marketing Mix &&!0. Place looks atlocation) ho% the product %ill get to %here it needs to and ho% the product %ill then besold. Many times place includes retailers) %hole sellers and if it is on the internet then is%ould include a direct channel. The 5ondoner sells primarly food and drinks. This beingsaid) the ma3ority of the products are bought from %hole sellers. There is a deli*ery oncea %eek that deli*ers napkins) stra%s) food) alcohol etc to the store. $n*entory is done once  a %eek by management to determine %hat) and ho% much the store needs) then the order is placed.The third elements of the marketing mix is price. The price of the product does notal%ays mean the specific price but often times it is refering to the price policy. -ccordingto Marketing Mix &&!) Pricing decisions should take into account profit margins andthe probable pricing response of competitors. Pricing includes not only the list price) butalso discounts) financing) and other options such as leasing. <epending on the product)the location and many other *aribables the price of the product may change from onelocation to another. The price of the product is typically determined by the 2uality of the product and the target consumers. The price of items sold at the 5ondoner are aimedto%ards the middle class. <rinks are affordable as %ell as the food. $f the food %asexpensi*e no one %ould come and business %ould suffer. $f the products %ere priced tolo% then there %ould be any profit made. 4n the slo%est days of the %eek) 9unday andMonday) the 5ondoner does happy hour all day. The reason for this is to bring businessin. <uring the summer prices tend to drop a little. This is because the summer is the slo%season. <uring the summer people tend to go to other bars %here the patio is bigger sothe 5ondoner lo%ers prices and run more specials to keep people coming back.The final element of the marketing mix is promotion. 4ften times people think of  promotion as the sales part of the mix. 9ales is a part of promotion as %ell asad*ertising and public relations. Promotion decisions are those related to communicatingand selling to potential consumers. 9ince these costs can be large in proportion to the product price) a break>e*en analysis should be performed %hen making promotiondecisions. $t is useful to kno% the *alue of a customer in order to determine %hether additional customers are %orth the cost of ac2uiring them. Promotion decisions in*ol*ead*ertising) public relations) media types) etc ,Marketing Mix &&!0. Promotion is a big part of the 5ondoner's marketing stratgies. 7hen someone %ants a *odka cranberry) for example) the customer is al%ays asked if they %ant grey goose. This is called up saleingand the reason for this is to sale a better *odka because it costs more. -nother %ay the5ondoner promotes themsel*es is by going to e*ents like The Taste of -ddison. 6oing toe*ents like the Taste of -ddison is a great %ay to get the %ord out about the 5ondoner. -te*ents like this people can try the food and get tokno% some of the employees in hopesof helping buisness.  The marketing mix is a ma3or part of any organi1ation marketing strategies. +achelement) product) place) price and promotion all contribute to an organi1ations success.The 5ondoner %ould not be as successful as they are if any of the four p's %ere left out. NetMB- ,&&/0. Business :no%ledge Center. The Marketing Mix ,The # P's of Marketing0. ;etrie*ed (uly #) &&! from http? Teacher ,&&!0. Marketing Mix. ;etrie*ed (uly #) &&! fromhttp? Mix ,&&!0. The Marketing Mix> ,The  P's of Marketing0. ;etrie*ed (uly )&&! from http?@@fac%eb.eths.k&lab&support@adsDmktg@marketingAmix.htm
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