Marketing Mix

Marketing Mix Paper The concept of marketing is very broad. There are many things to consider when effectively introducing a new product or service into the market. Most important is the marketing mix made up of the four Ps; product, place, promotion, and price, which are the controllable variables in a marketing strategy. (Perreault, W. & McCarthy, J., 2005) These four Ps are the parameter that an organization can control, subject to the internal and …

…support. As the market changes, the marketing mix can be adjusted accordingly to accommodate these changes. Often small changes in consumer wants and needs can be addresses by changing the promotional and advertising campaign. As the changes become more significant, modify an existing or introduce a new product may be needed. The marketing process does not end with implementation; there must be continual monitoring an adaptation to fulfill the customer needs consistently over the long-term.