Marketing Mix

An approach to achieve your marketing objectives can entail utilizing the marketing mix, which is a model of crafting and implementing marketing strategies. As it name states, it mixes or blends the various factors to achieve both organizational and consumer objectives. The object for the marketers is to put the market, understanding the wants and needs of the consumers or customers, then developing or formulating marketing strategies or plans to meet the wants and needs, achieving balance between the incompatible elements.

The marketing mix, which is often referred to as ?the 4 P?s?; Product, Price, Place and Promotion and it is used to develop and evaluate a marketing plan and a way to carry start each strategy. Product refers to defining the fruit or assist that will be offered to meet customers? needs and wants. It includes the features and benefits associated, such as quality, appearance, service, support, functionality, and the brand. Price is choosing a pricing strategy, understanding the amount of capital that will be charged for a product or service that is of value. It consists of determining the cost to offer or sire the new product or service, flexibility, special or seasonal pricing, discounts, and competitive pressure. The place, in this mix is referring to destination, examining locations, delivering the right amount of product or service from the best locations available.



It must consider warehousing, distribution, storage, locate processing and middlemen if necessary. Lastly, promotion is the communication that takes place to between the business enterprise and the potential customers and clients. It is the area for advertising, sales people, offering sales promotions, and publicity, generating a positive customer response (http://www.netmba.com) and (University of Phoenix resource).

In reviewing the federation Netflix, the marketing plan would have had to consider the 4 P factors in the marketing mix. The...

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