Marketing Mix Assignment Help
Marketing has been a vast field of study with a lot of topics and sub-topics under it. Advertising, TV commercials, social media, search engine optimization, news release, mobile marketing, tweeting, blogging, pinning and networking are some of the tools of marketing. Now, we move on to the concept of the marketing mix, which involves some tools which are required for enhancing the strengths and abilities of the marketing strategy. MBA students can very well identify with the intricacies of specialization in Marketing and studying the topic Marketing mix. They struggle with completing the assignments of the Marketing mix. Thus, they seek marketing mix assignment help.
Concept of Marketing Mix
There are many definitions for Marketing Mix that defines its features. Some of the ways to understand the concept of Marketing Mix are:
1. It can be referred to as tactics and actions taken up by an organization or company to promote its product and services.
2. The various tools used to promote and support marketing procedures are called marketing mix tools.
3. Some people define it as the tools that enhance the abilities of the organization by strengthening its marketing strategies. These tactics support the company's marketing procedure. The process of marketing becomes smooth and also curbs the risk of loss.
Understanding the concept of the Marketing mix and implementing it in the assignments becomes strenuous to students at times. To clearly grasp its concepts, conduct a survey, analyze data and then interpret the outcome in the assignment takes a toll on the students due to lack of knowledge. Therefore, MBA students with specialization in marketing seek marketing mix assignment help.
The 4P's of Marketing Mix
Originally Marketing mix consisted of 4P's that are Price, Product, Promotion and Place. Neil H Borden coined these terms of marketing mix back in 1964. But with time, other P's are also included in the definition that are Packaging, People, Positioning, and even Politics. All these elements that constitute the marketing mix have a huge influence on the business plan. If executed right, it can lead to great success. And the optimum marketing mix can be achieved by thorough marketing research. Let us look into the P's of marketing mix:
1. Price: It is an important term of the marketing mix as it decides the price set for any product or service. Prices should be set carefully after examining all the factors like market nature, consumer nature. The price includes the price of raw material, price incurred to make the finished product, labor cost and the profit margin. Pricing strategy changes the complete game for the product.
2. Product: Product and services are the main things of a business. Proper planning and strategies have to be laid out for selling the product. The products must deliver a level of performance. Products comprise of 3 main levels, that is the core product, actual product and augmented product. Some important decisions to be taken for the product are its functionality, brand name, styling, safety, quality and packaging.
3. Place: The place refers to both the production and selling points of the product. The place of production or manufacturer must be chosen wisely. The collection of raw material for production should not levy transportation costs. Some middle ground should be chosen for the purpose. On the other hand, storage of products should be near markets so that the supply can be done quickly. The elements that constitute the decision-making for the place are, distribution channels, market coverage, specific channel members, warehousing, order processing and transportation.
4. Promotion: It refers to creating and increasing the need of the product and service in the market. Taking on various tactics to increase the growth of the product. The business producing products in bulk require various ways to sell it in the market to gain profit on it. Best promotion strategies like commercials, advertising, personal selling, publicity, internet selling are all required for sales of the product.
After reading about the 4P's, if you think that writing an assignment on Marketing Mix will be a task then hire experts who deliver well-researched, plagiarism-free marketing mix assignments. These experts are graduates from top colleges with good industry experience. There are many professional writing companies that offer to hire experts for writing assignments.
Advantages of Marketing Mix
• Simplifies and brings together the concepts of Marketing into one, thus managing the process of marketing easier.
• Allows separation of marketing activities from other company activities and deletion of Marketing specialists to the marketing tasks.
• Enables companies to vary it's marketing activities according to its resources and needs.
• Allows decisions on marketing mix elements without taking into account other elements.
A marketing mix is a mix of tactics and strategies for a better sale and growth of the product and service. It requires thorough research to establish a strong marketing foundation for the company. With its deep-rooted concepts, students find it difficult to complete assignments of the marketing mix, thus it is always advised to hire, best professional writers like BookMyEssay for marketing mix assignment help.