Marketing Mix Of The Four P s Essay - 1815 Words

The marketing mix consist of the four P’s. This includes, Product, Price, Promotion, and Pricing. This element is used to combine, represent, as well as endorse and encourage a brand or product to get customers attention to buy. This also creates an option to stand out from competitors before the brand or product is really out there to sell. When you incorporate the four P’s there are a series of questions that associate with the element. What is the perceived value of your product or service? How does your product meet those needs? Where do potential buyers look for your particular product or service? What current interactions do you have with potential clients? What do consumers want from your product or service? And most important, how do you differentiate from your competitors?(PurelyBranded) Yes, this is a significant amount of things to consider while using the four P’s of marketing, but it essentially break down the fundamentals of a brand or product. Take Kay Jewelers for example, an auxiliary company of one of the major jewelry firms of the United States called Signet Jewelers. Kay Jeweler’s introduction stage began when the company first originated in 1916 with only one store location created by two brothers, Sol and Edmund Kaufmann in Reading, Pennsylvania. Their original products included eyeglasses, musical jewelry boxes, and electric razors. In their growth stage they began to cut back on the non-jewelry products that they sold and started focusing on prettyShow MoreRelatedMarketing Mix1070 Words   |  5 PagesThe marketing mix is primarily made up of four variables, and they are product, place, price, and promotion. These variables are often referred to as the four P s. Many sources often describe the marketing mix as a recipe used in developing a viable marketing strategy, with each ingredient being used different ways and at different times based on the product or service one is trying to market. 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