Marketing, the Marketing Mix (4p’s), and the Nine P’s

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals. (Kotler, Keller, ‘05) Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. (Kotler) Marketing is getting the right product or service to the right people (target market), at the right time, at the right place, at the right price with the right communications and promotion. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that†¦show more content†¦Ã¢â‚¬ ¢ A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. (Kotler) †¢ A service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (Kotler) †¢ â€Å"Product† includes packaging, as a subset of the total offering. Brand managers use packaging as a badge, enhancing the product’s value. Here’s an example: In fall 2008, McDonald s scrapped and changed its package design across 118 countries, 56 languages. Packaging can increase the perceptions about the quality of the product. †¢ A Product or service also should have Purpose, which is discovering the product’s real value, use, difference, reason, or function for the consumer and user. Price: All aspects regarding pricing. The price consumers are willing to pay. Retail price/wholesale, discounts, trade-in allowances, quantity discounts, credit terms, sales and payment periods. Promotion: The communication element includes personal and non-personal communication activities. Activities that communicate the merits of the overall product, which includes: †¢ Personal Selling/ Sales Force †¢ Advertising--Mass or nonpersonal selling: TV, radio, magazines, newspaper, outdoor/out-of-home Advertising is structured and composed non personal communication of information, usuallyShow MoreRelatedA Study on Alipay Essay1730 Words   |  7 Pageswith people’s daily life , in another word, as compared with Paypal, AiliPay is more suitable towards the Chinese customers and that’s why Alipay becomes one of the leading giant online payment service providers. 3.0 Analyse according to the Marketing Mix 3.1 Swot Analysis Internal Factors Strengths: a) For the sellers, through Alipay can avoid the risk of miss receiving the payment from their customers and at the same time to provide customers a variety of payment instruments. It can provideRead MoreMarketing Environment Of Dubai : A Tourist Destination Essay3336 Words   |  14 PagesTask - 1 MARKETING ENVIRONMENT OF DUBAI 3 A. 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