Marketing Mix Assignment Help

In simple terms, Marketing Mix is a combination of a number of marketing tools for the sales and distribution of the products of the company. As such, a company’s flow of revenue depends on a lot on the marketing mix strategized by the company. The marketing mix is a vital aspect of any marketing management and the students are imparted intensive lessons on this aspect and practical training on how the marketing mix can be used for the betterment of revenue earning. Every year BookMyEssay receives thousands of calls and requests from the students asking for marketing mix assignment help. BookMyEssay is an ace custom assignment writing service where the students could find the best lot of marketing management assignment writers who can provide top-class assignments that are sure to fetch the highest scores in the assignment tests.

An Overview of Marketing Mix

The concept of marketing mix was developed in the early 1990s. In product marketing, 4Ps and 7Ps of marketing management are popular while in service sector the 4Ps of the marketing mix is used.

4P’s of the marketing mix: This comprises of Product, Price, Place, and Promotion.

Product: A product is the base of any marketing. A product is a thing that is designed and developed by the company to meet the necessity of common people. By fulfilling their necessity, the company will be able to attract revenue. The product needs to the right type of product that the market will get interested into. A backdated product that the consumers have already used and no more interested will not work in the market like a mobile phone with backdated technology.

Price: Right kind of product is not sufficient as long as its price is not a competitive one. To sustain in a market competition the product should be rightly priced within its domain. This is a very sophisticated area though. Many aspects are considered while fixing the retail price of a product. If a company is new to the marketplace and has not made any brand image yet for themselves, it is improbable that the target market will be enthusiastic to pay a high price for the product. Price is an important aspect in shaping the image of a product among the customers.

Place: Placement or distribution is a vital part of the marketing mix for any product. Only good product or right price is not sufficient as long as the company is not targeting a right type of market to sell the product. This means a deep understanding of the market is important and placement of the product should be in the right market where an abundant of targeted consumers could be found. For the best distribution of the product, companies need to adapt the right kinds of distribution channel too.

Promotion: It is important for the brand recognition and brand imaging. The market is highly competitive these days, so, without the correct product promotion, no brand can enjoy competitive edge n the market.

In the 7P’s of the marketing mix, apart from the above-mentioned 4P’s of marketing, two other Ps, viz. The process, People, and Physical evidence are also considered:

Process: It is the way how the product reaches to the ultimate consumers from the company warehouse. A company looks for the process that would cost minimum. As the cost in the process is added to the product price, so keeping the expense minimum yet designing the best process is necessary.

People: People of an organization plays a vital role in product marketing. Efficient people can deliver the best possible service to the customers.

Physical evidence: In the service industries, the physical evidence is important to show that the service is delivered properly.

Marketing Mix Assignment Writing Help

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