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Contemporary Marketing Mix for New Fords Model - Assignment Example

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The paper “Contemporary Marketing Mix for New Ford’s Model” asserts that the market situation pushes Ford to release miniature cars. If in Europe and the USA the brand is widely known, then its promotion in Singapore requires a large-scale ad campaign in social networks and all-region media. …
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Contemporary Marketing Mix for New Fords Model
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Download file to see previous pages Contemporary marketing environment refers to the marketing mix in relation to these four Ps. However, these four Ps are found to be more relevant in the context of a tangible product rather than service which is intangible, heterogeneous and perishable. Therefore, in the context of service, three more Ps’ have been added to form the marketing mix. These three Ps are people, physical evidence and process. In this paper, the marketing mix is dealt with in the context of product and hence the focus will be on the four Ps. According to Gary Armstrong and Philip Kotler “product means the goods-and-services combination the company offers to the target market.” (Kotler & Armstrong, 2001) Price is referred to as the monetary value of the product. It is the amount of money that must be paid by the customers in order to obtain the product. In the words of Kotler and Armstrong “place includes company activities that make the product available to target consumers.” (Kotler & Armstrong, 2001) The final P, promotion is referred to the activities that are performed with the intention of communicating the merits and features of the product to the target customers in order to persuade them to purchase it. Marketing mix, in this paper, is analyzed in the context of Ford motor cars. Different levels are involved in marketing the product; these levels are illustrated in this report in the context of Ford. Furthermore, the paper includes an analysis of the pricing objectives as well as pricing strategies of Ford. Finally, the paper provides a proper description of the marketing communication mix conducted by Ford. Each of these analyses is done considering the company’s presence in the Singapore market.       ...Download file to see next pagesRead More
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