9. Cost of Marketing • Sometimes higher than cost of making product • Often 50% markup to account for marketing activities • Necessary to attract and retain customers. 10. Role of Marketing • Early 1900s Product - Oriented - Little choice, inefficient manufacturing - Focus: was 'how' and 'what' to produce? • 20th Century
The classic marketing mix includes 4 elements: product, price, place and promotion. The marketing mix is often extended with three additional elements: people, process and physical evidence. This is awkward and dated as these three elements are better described as customer experience.
The marketing mix or 4Ps (Product, Place, Promotion & Price) is the set of strategies and tactics that the company uses for its marketing plan. Tesla maintains significant managerial control in all components of its marketing mix. Such a level of control maximizes the company's effectiveness in reaching its target customers and optimizing
The 4 Ps of marketing are a collection of four essential elements of a marketing campaign — namely product, price, promotion, and place. Also known as "the marketing mix," the 4 Ps collectively create a framework for organizing and planning a marketing strategy for a product or service. Professor Neil H. Borden first described the concept
The elements of marketing by Cherington, Paul Terry, 1876-Publication date 1920 Topics Marketing Publisher New York : MacMillan Collection robarts; toronto Contributor Robarts - University of Toronto Language English. 26 Addeddate 2007-08-17 00:18:32 Bookplateleaf 0004 Call number AEW-5829 Camera 5D
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what are the elements of marketing
