Elements of Marketing Mix

Essay # 67842

Advertising
Business > Marketing

Describes the elements of the marketing mix (product, place, price and promotion).

1,692 words () | 13 sources | APA | 2006 United States

Paper Summary:

In an attempt to better explain what marketing is, this paper takes a look at the elements of the marketing mix, defined as product, place, price and promotion and the impact these elements have on the development of a real life organization's marketing strategy and tactics.

From the Paper:

"The final element of the marketing mix is Promotion. Promotion can involve anything from where products are displayed to the target market to which the product is aimed. Many consider Nintendo as having the most family friendly console. This is because "..Nintendo's general console strategy, which has been to emphasize its relative low cost and family-friendly games" (Goldman 2006, Para 7). This is evident in that "Sixty-five percent of GameCube games are "E-rated," said Nintendo of America spokeswoman Beth Llewelyn" (Felberbaum 2005, Para 20). Nintendo seems poised to continue their marketing strategy of being family friendly through their announcement of the name of their new gaming system "Wii. That is Wii, pronounced "we." Wii symbolizes Nintendo's goal of creating games for everyone, and bringing people together. The "ii" not only stands for two people, but for the console's two unique controllers" (Edwards 2006, Para 1)."