Marketing Mix

Paper Summary:

This paper discusses the elements of the marketing mix: product, price, placement, and promotion. The paper discusses these in general terms and then considers how they apply to the marketing of the Apple iPod and its related products, noting the way the company has positioned the product and the way the mix serves the needs of the company.

From the Paper:

"The marketing mix is the combination of elements that make up a marketing strategy and that help define a given product in the marketplace. One way of viewing the mix is in terms of what are called the 4 p's, meaning produce, price, placement, and promotion. The importance of these has been emphasized many times and can be seen in campaigns both successful and unsuccessful. Marketing is a difficult art to master, and it involve a number of unknowns which can alter the nature of the process itself in some instances: Of all the disciplines that businesses must master, marketing may the hardest to grasp. Technology at least obeys the laws of physics. Finance, however skewed by ego and fear, is girded by mathematics. But marketing is messy: Companies try to respond to customers' wants and needs, and manipulate them simultaneously. Emotions rule; motives are unclear (Brookes & Stodin, 1995, p. 24)."

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