Question

DQuestion 8 10 pts In a short essay, list and discuss the four elements of the marketing mix. HTML Editor 10 pts Question 9 In a short essay, list four critical questions that the firm should answer regarding the portfolio of businesses that should comprise the set of product or markets in which it will compete Question 10 10 pts In recent years P&G has divested many businesses and acquired several others. How do you assess P&G's choices regarding Marketing Imperative 1?

Answer 1

As per policy, only one question is allowed to answer at a time, so answering Q8 here:

Answer 8)

A marketing mix can be simply explained as a planned mix of all the elements of delivering the products from production place to final consumer. These elements are spread around the product and the promotion activities of a product’s marketing plan. These elements can be summed as the 4Ps or a product of Product, Price, Place, and Promotion. These four parts of the Marketing mix are adjusted within themselves to provide an appropriate mix so that customers are catered to their adequate needs.

Product: A product is the prime element of the Marketing Mix. The product to be profitable has to fulfill all gaps towards the needs of the target market.

Price: In determining the price element of the Mix, it is important to have lower product cost including the operation costs and distribution costs.

Place: The place element of marketing mix is the placement of the product to the customer of the product. It includes the various modes of marketing product to the desired customers.

Promotion: Promoting is the element which constitutes the selling of product idea to the customer through briefing the products’ benefits that provide value to the customer money.

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