Marketing Mix

Paper Summary:

The paper states that the development of an effective marketing mix is critical for being able to stay competitive in the turbulent global markets that companies compete in daily. The critical need for keeping the four attributes of the marketing mix synchronized with one another in order to attain strategic objectives is illustrated through the many examples throughout this paper. Product strategies' contribution to a company's entire marketing mix, the role of promotional strategies to reinforce branding and messaging, and distribution channels' role in getting branding, messaging and products to market are analyzed in this paper The paper concludes that of all strategies that a company undertakes, the launch of new products is both the most challenging and potentially the most lucrative as well. The paper includes several tables and figures.

Outline:
Abstract Introduction
The Role of Products in the Marketing Mix
The Power of Pricing
Promotional Strategies as part of the Marketing Mix
Distribution (Place) as part of the Marketing Mix

From the Paper:

"Promotional strategies are used for accentuating of the value of a product or service through additional offers, lower prices, bundling, or the use of techniques to bring greater value to the customer through the use of innovative packaging. Sales promotion in the context of a sales funnel acts as the basis by which prospects for a product or service first learn of a company and its offerings, and ascertain its ability to meet their needs or not."

Sample of Sources Used:

• Aberdeen Research (2006) - The Sales and Marketing Channel. Accessed October 5, 2007. http://www.aberdeen.com/channel/cust.asp
• Aberdeen Research (2005) - New Product Development: Profiting from Innovation. Aberdeen Research. Boston, MA. December 2005
• Aimi, G. (2005).- AMR Research (2005, October 25). Retailers Save Money By Controlling In-Bound Logistics. (Alert). Boston, MA
• Blue Ocean Strategy (2005) - Book by the same name. Published February 3, 2005 by Harvard Business School Press. ISBN 1591396190
• Burkett (2006) - Use Suppliers at All Phases of NPDI To Improve Product Launch. AMR Research. May 10, 2006

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