The 4 Ps of Marketing and How To Use Them in Your Strategy - Coursework Example

Marketing mix variables Marketing is a process where a company communicates the value of their products and services to prospect consumers for the purpose of selling the product or service. This is usually done through the application of various techniques such as market analysis, studying consumer demands and a good publicity of the product. Marketing mix, on the other hand, is a tool used to create a conducive environment for the product through consideration of the product itself, price, promotion and its distribution.

The product analysis is carried out to determine its quality, and services offered and the core ideas that were used to build. The product life cycle and development strategies are checked so as to meet the consumer’s satisfaction needs. Price is a term used to refer to a value that is placed on an object to allow exchange between a seller and a buyer. When the buyer is satisfied with the product’s utility, they exchange their purchasing power. This, therefore, implies that any adjustments to the price has an impact on marketing and hence will influence the demand and sales of the product.

Price is usually important as it determines the profits of the company. Promotion is a method used to persuade consumers to accept goods, services and even ideas. This is done through advertisements, public relations, publicity and sales promotion. Since digital advertisement is rapidly growing, it is the most applied forms of communication through social media and websites. Lastly, distribution is the provision of the product to the consumers in the right place and in desired quantities. 1) Jia (Karrie) Liang Discussion Liang brings out the fact that marketing is a paramount tool for any business in the sense the company gets the publicity of its products and understands the needs of its consumers.

He believes it is a systematic process whereby the company does a consumer based research and obtains information on an efficient way to reach out and sell their products and services. Liang covers the role of marketing for a business effectively. Reference O.C Ferel, Geoffrey Hirt and Linda Ferrel. Business: A Changing World. The McGraw-Hill company, 2014.