This paper discusses the selling mix. The author explains the four p’s that make up the selling mix in order to market a merchandise or service. The author besides applies the selling mix to a new theoretical account smartphone provided by Samsung. The selling mix reveals what is most of import in marketing the merchandise in order for the seller to do successful determinations for marketing the merchandise. Once the selling mix is applied. the seller will understand what is best to acquire their merchandise on the market. This paper discusses the importance of each selling component to give a clear apprehension for what is the right manner to garner smart determinations to establish a product/service.
The Four P’s of the Marketing Mix
The selling mix is fundamentally a set of tools. set together in order to convey a concern success. Each different tool covers different determinations that sellers need to do in order to successfully model their merchandise or service. When get downing a concern. it is of import to hold all things in order. Meaning. you want to be certain you have a program and that everything is organized. Organization and construction is why the selling mix is so of import. The tools in the selling mix aid to form what you need your concern to be ; giving the concern construction and stableness. The four P’s that make up the selling mix are: monetary value. merchandise. topographic point. and publicity.
Monetary value is self- explanatory. it represents the monetary value of the merchandise or service. Though the monetary value may be the simplest “p” to explicate. it is the most critical component in the selling mix. Bing that monetary value is the sum set on the product/ service. the merchandise determines how much net income is made from the merchandise. If the monetary value on the merchandise is non right. the merchandise does non sell. doing concern to shut-down. The monetary value plays a major function in the selling of the merchandise. finding the type of consumers who will purchase every bit good as when the consumers will purchase. The monetary value the seller sets should equilibrate the other elements of the selling mix ( Smith. 2012 ) . The monetary value sets the footing for the concern. devising or giving the concern an image.
The merchandise is the service or point that the company wants to market. When it comes to the merchandise itself. sellers must see a list of things. To get down. the merchandise must to the full run into consumer demands. The product’s form. size. colour. theoretical account and other seeable facets about the merchandise should be considered. It is the merchandise itself that has to sell. so the visual aspect of the merchandise is of import.
The publicity of the merchandise involves all the ways a company displays information in order to assist sell their merchandise. Promotion is made up of things like: advertisement. public dealingss. personal merchandising. viral and word- of- oral cavity. and gross revenues publicity ( Smith. 2012 ) . The manner a company promotes their merchandise plays a large function in the sale of the merchandise. Sellers have to find what is the best manner to advance their service/ merchandise? Some ways to advance a merchandise are on telecasting through commercials or on a shopping channel. on a wireless. on hoardings. or even on the cyberspace. Promoting a merchandise successfully will ensue in plentifulness clients and sells.
The last “p” to see is topographic point. The topographic point consists of the country where your point will be available for sale. The best thing to see with the topographic point is doing certain consumers will happen your merchandise where they are at. Having your merchandise launched in the right countries where targeted consumers will happen it. will guarantee the merchandise will sell.
The merchandise I have chosen is a Samsung Android SGH- T679 4G Smartphone. I chose this merchandise because cellular telephones are wanted everyplace and by everyone. They are germinating more and more daily. This phone is an up- to- day of the month version of an Android smartphone and includes many characteristics. I found the phone appealing and felt it was marketed successfully.
First we will measure the monetary value of the merchandise. Cellular telephones are at a high demand and rivals are endeavoring to convey the best trades. Knowing that competitor’s pricing scope between $ 150 to even $ 600. we want to hold a sensible monetary value that will catch consumer’s attending and that is low-cost. The monetary value is set at $ 149. 95 without holding to come in a contract on the service. Rivals may necessitate a one to two twelvemonth contract for such a sensible monetary value. The monetary value for the service must be sensible as good. Consumers don’t want to pay a hundred dollars a month for service. Without a contract. service for this phone is set at $ 50 a month.
The merchandise. itself. has to be appealing to the consumers. Cellular telephones have evolved a batch over clip and touchscreen phones are at an all- clip high demand. The chief characteristic that is now added to phones is they are Android capable. Now phones can be used to assist suit life with more than easy entree to speaking or directing messages. This Samsung Android features many characteristics that consumers look for in a phone. There is a front- facing camera to enable picture confab. picture recording is available. every bit good as speakerphone. Bluetooth capableness. GPS pilotage. and voice activated hunt. text. call. or pilotage. The phone is really light weight and the size of the screen is about the size of the competitor’s phone. the I-phone.
The country where this merchandise is available is really of import. in order to uncover the merchandise to consumers. By puting the offer over the cyberspace and the place shopping web. consumers who are seeking or shopping will see the offer. Like stated before. the monetary value is really critical. and by holding a sensible monetary value. one time seen. consumers will see the merchandise. The publicity of this merchandise has a batch to make with its’ arrangement. The place shopping web will advance and put the merchandise. It will be available on-line and can be seen on telecasting. Puting your merchandise in an country where consumers are seeking to shop is a good manner to advance gross revenues.
Smith. H. ( 2012 ) . The Four P’s of Marketing. NetProfits Today. Retrieved November. 2012. hypertext transfer protocol: //netprofitstoday. com/blog/the-four-ps-of-marketing/
The Marketing Mix and 4 P’s ( 2012 ) . Mindtools. Retrieved November. 2012. hypertext transfer protocol: //www. mindtools. com/pages/article/newSTR_94. htm