Marketing Mix
Marketing Mix
The marketing mix is a combination of marketing tools that are used to satisfy company and customer objectives. The creation of a successful mix takes experimenting and research and should include the coordination of all elements to ensure that prospective customers are not sent mixed messages. According to About.com, the marketing mix is "The levels and interplay of the elements of a product's or service's marketing efforts, including product features, pricing, packaging, advertising, merchandising, distribution, and marketing budget; especially as these elements affect sales results." (2007) However, for the purposes of this class the mix has been simplified into four separate areas; product, price, place and promotion. This paper will describe the essentials of the marketing mix and discuss how each of these elements has impacted the development of the marketing strategy for the United States Army.
The first component of the marketing mix, the product, refers to tangible, physical products as well as services. This area includes, but is not limited to, brand name, styling, packaging and quality, amongst other decisions that must be made. The second component, price, is pretty much self-explanatory and includes pricing decisions such as pricing strategy (skim, penetration, etc.), suggested retail price, cash and early payment discounts, and price flexibility. Product placement is the third component of the marketing mix and involves distribution decisions regarding getting the product to the customer. This area of responsibility revolves around distribution channels, inventory management, market coverage and transportation, to name a few. The fourth and final component, promotion, can prove to undermine each of the previous three components if not successfully employed. This area includes promotional strategies, advertising, sales promotions and public relations.
The Army is an institution that has been around for...
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