Elements of Marketing Mix

0 Comment

61500 According to the findings, it can, therefore, be said that each and every firm endeavor to set up a mix of the 4 Ps, that they can achieve the highest level of customer satisfaction, alongside achieving objectives set by the organization (Baker and Hart, 2008). Therefore, the mix is prepared to keep in mind the needs and requirements of potential target customers. The mix typically varies from organization to organization, depending upon resources available to them as well as their organizational objectives (Adcock, Halborg and Ross, 2001. Baker, 1991). The following sections will involve an in-depth analysis of the four elements of the marketing mix. The final section will be the conclusion, which will explain the element that is more important.&nbsp.The product basically refers to the goods and services delivered by an organization. They are basically purchased because they satisfy single or multiple needs of individuals. Customers pay not for the tangible product, but for benefits that are associated with it. To put it simply, products can be referred to as a package of benefits, that marketer offers to its customers for a predefined price. For example, while buying a pair of shoes, an individual is actually paying for the comfort that shoes will provide. While buying a lipstick, a consumer mainly pays for the beauty, which is associated with applying such cosmetics. Products can also come in the form of services that are provided to consumers, such as, air travel, telecommunication and so on and so forth. Aside from physical products, there are certain elements that customers may be attracted to. for example, the way it is packaged.&nbsp.