The Marketing Mix

Paper Summary:

This paper describes each of the four elements of the marketing mix and examines each one in depth in order to shed some light on the importance and use of each of the elements. The paper specifically focuses on the American Family Life Assurance (AFLAC) company, using descriptions and examples, and discusses how each of the elements impacts the development of AFLAC's marketing strategy and tactics. The paper maintains that the four Ps will continue to be the cornerstone and muscle behind a company's successful marketing strategies and concludes that companies such as Aflac would never have experienced such success without the proper and careful use and recipe of the four P's.

From the Paper:

"Aflac is demonstrating that it has remained steadfast in its pursuit to create and offer just the right product to the right target customers.
"Aflac has used the element of place wisely, to expand its services further from its home base in Georgia. In 1986, at a time when the company was trying to expand from its rural base into metropolitan areas, Aflac began to consider the idea of using more independent brokers instead of exclusive producers to sell its products. They could see that brokers had already handled major medical coverages and other financial services, and could therefore, give the company an excellent distribution channel."

Sample of Sources Used:

• Aflac (2008). About Aflac. Retrieved September 9, 2008, from http://aflac.com/us/en/aboutaflac/history.aspx
• B2B Magazine (2008, August 11). Success Story No. 1 - Aflac. Retrieved September 9, 2008, from http://www.btobonline.com/apps/pbcs.dll/article?AID=/20080811/FREE/864760753/1151/ISSUENEWS
• Best's Review (2003, May 1). The mighty duck: Aflac is boosting sales and name recognition with its ubiquitous duck, and now the marketing icon is also reaching audiences in Japan. Retrieved September 9, 2008, from http://goliath.ecnext.com/coms2/gi_0199-2846151/The-mighty-duck-Aflac-is.html
• BusinessBureau-uk (2002, January 7). Place (method of distribution). Retrieved September 9, 2008, from http://www.businessbureau-uk.co.uk/sales-marketing/marketing_mix_place.htm
• Impress (2007). Packaging: Convenient peelable ends for canned food. Retrieved September 9, 2008, from http://profitthroughinnovation.com/packaging/convenient-peelable-ends-for-canned-food.html

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