Marketing Mix Essay

Submitted By chastity94
Words: 424
Pages: 2

The Marketing Mix
Chastity Tyler
Principals of Marketing
Professor Barclay
South University

In order for any business to succeed in today’s society of consumers, owners and headships must know what it takes to gain consumers and to keep consumers. According to the text, the marketing mix, also known as the four P’s, has been a core concept of Marketing for decades (Grewal & Levy 2012). The four Ps are product, price, place, and promotion (Grewal & Levy 2012). According to the text, the four components of the marketing mix acknowledge firms are most successful in satisfying customers when they focus on the needs of target markets with the help of proper planning (Grewal & Levy 2012). There would be many difficulties if companies did not focus on what’s most important, the consumers. If the firm attempts to satisfy all possible customers in a market, it usually ends up satisfying only a few customers (Grewal & Levy 2012). The marketing mix is an important concept in marketing because it requires the firm to focus its efforts on specific market segments (Grewal & Levy 2012). When I am shopping for a product I try to use my best judgment on what the product is, how beneficial it will be to me and if it is really a need and not only a want. When shopping for a new pair of tennis shoes for work it has to definitely be in the right place, the right price, the right product and everyone loves great promotions. Due to the economic conditions with high expenses many people no longer spend unnecessarily on very…