Marketing Mix Mentioned as the four P’s, marketing mix is tremendously important and ordinarily known as a marketing strategy. Focusing more on the product, the four P’s in market strategy is not as dedicated to a customer base as the likes of the merchandise. Controlling with superior merchandise growth with the four P’s, marketing also keeps in vision the gratifications of the objective market. Establishing the four P’s appropriately within the marketing plan, will take full advantage of the performance of the business and help gratify the needs of the consumer. The paper will observe how the four P’s in marketing are executed and developed inside a corporation. The research will focus on Lowe’s, which is a company invested in home improvement and appliance product. Lowe’s established in 1946, in North Carolina and now expands from the United States to Mexico, Canada, and Australia. The research will focus on price, promotion, place, and product of Lowe’s as a home improvement store.
Product deals with many matters in the proposal of the product or physical good. A developer of product has to be aware of what the target wants. While developing a product, a designer needs to offer something special to make the product stand out to the consumer. Example would be built in Blu-ray players in televisions or a remote control for a television. Using great and reliable material, will also help build quality product to compete with competitors and keep the interest of consumers. Keeping work instructions as easy as possible for clients to understand is an important factor in developing a product. Clients do not want to participate in building instructions that take an incredible amount of time and energy to bring together or set up. While developing a product, the packaging of the product have to be as simple as possible where branding of the product is properly noticeable with the warranty and specifications of the product.
Lowe’s deal with these issues when endorsing or producing a product and services for the consumer. The target market is anyone who is in the home improvement or construction business. Lowe’s targets a certain market in home improvement more than their competitor that helps establish a certain relationship with that target base. Lowe’s focuses more on the “do it yourselfers” and markets clean organize items and products. This helps market Lowe’s as your neighborhood home improvement store and portrays even the working business man could do repairs.
The distribution of the product is as important as developing the product. Place will help with the channeling of the product to reach the consumer without raising the prices on the product. The handling and storing of the product have to be considered in order to establish a place for the distribution. Certain measures have to be taken when storing product. Refrigeration, shelf life, stack product, how high, at the customers place or at your warehouse. After establishing proper storage of product, hiring qualified managers and personnel to help you stay on time and organize in your warehouse or company. Before establishing storage and management of product, the cost of the facilities and hiring of personnel have to come into account. Establishing a budget will help select the place for the company to set up distribution or sales of the product they are marketing. Establishing a budget will help in selecting a place for the company. It could set up a budget for California or Texas. Lowe’s has many stores across the nation as well as other countries. Establishing distribution centers in strategic place help budget Lowe’s to see how many store can open in the distribution region. In doing so, Lowe’s can open six in San Diego county that the Perris distribution circle can support. One disadvantage of the limit that the distribution can uphold Lowe’s is the room for expansion. Considering the…