The Concept Of Marketing Mix Case Study Example | Topics and Well Written Essays - 2000 words

The Concept Of Marketing Mix - Case Study Example The first objective in marketing is discovering the needs of prospective consumers. Effective marketing can clearly shape persons wants and tries to influence what we buy. The second objective in marketing is satisfying the needs of targeted consumers. Because an organization obviously can’t satisfy all consumer needs, it must concentrate its efforts on certain market one or more specific groups of potential customers towards which an organization directs its marketing program. Having selected the target market, consumers, the organization then takes action to satisfy their needs by developing a unique marketing program to reach them. These programs are planned to achieve organizations objectives. The marketing mix is the set of marketing tools which the organization uses to pursue its marketing objective in the target market  ¼Borden, 1994). McCarthy (1999) classified these tools into four broad groups that he called the four Ps of marketing i.e. product, place, promotion a nd price. Marketing-mix decisions influence trade channels as well as final consumers. Typically, the firm can change its prices, Salesforce size and advertising expenditures in the short run, although it can develop new products and modify its distributions only in the long run. Normally the firms tend to make fewer marketing mix changes in the short run. Clearly, marketing activities should be carried out under a well thought out philosophy of efficient, effective and socially responsible marketing. But with the growth of different activities at the market place these marketing tools i.e. 4 P’s may not be sufficient for the organization to have effective marketing action. Although it’s still very important to run an efficient operation, that alone is no longer enough for success.