What Is the Marketing Mix and Why Is It Important Essay Example for Free

What Is the Marketing Mix and Why Is It Important EssayThe marketplaceing mix is defined as the set of controllable selling variables that the corporation blends to produce the response it wants in the target market. The market consists of the four Ps which ar merchandise, price, place and promotion. The product is something that satisfies the customers need. Marketers need to know about their product so that they can market to their target customer. Price is the amount of money that the customer pays to get the product.The marketer needs to know the cost of the product and find out how much the customer is willing to pay to obtain that product. Place stands for the distribution of the product and describes the actes that are taken place to get the product from the suppliers and producers of the product to the market place where it is ready for purchase. Promotion is the way that the marketer can communicate and persuade their target customer to purchase their item. Prom otion includes advertising, personal selling, direct marketing and synchronous marketing.This is important to a marketing manager as they are wanting the consumer to purchase their product. There are three other Ps that harbor been added to the marketing mix and these form the extended marketing mix. These include people, processes and personal evidence. People are a key tool in marketing as they are able to form relationships with customers to promote sales or if trained incorrectly can turn people away from a sale. The process in marketing is important for customer relations also.If one step in the process such(prenominal) as the delivery of a good is do poorly, the consumer will be a bad ambassador for the company. Physical evidence entails examining every aspect that customers use in their perceptual field to assess such a service. This is also an important field in marketing as the customer controls the purchase. For an effective marketing campaign, all aspects of the marketi ng mix should be considered to get hold of the companys marketing objectives by delivering value to customers.When looking at the 7 Ps, we notice that these all come from the sellers side, not the consumers. Therefore, the marketing experts have also created 4 Cs in terms of customers wants and needs. These include Customer needs and wants, Cost to the customer, Convenience and Communication. The customers needs and wants are important as the need of the customer is the first step in the product purchase process. If at that place is no need or want from the customer, there will be no purchase. The cost to the customer is also important.