What Is the Role of Product in the Marketing Mix?

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Marketing mix is the comprehensive marketing plan of an enterprise, that is, the company optimizes the combination and comprehensive use of various controllable marketing factors (product quality, packaging, services, prices, channels, advertising, etc.) to meet the needs of the target market and makes them coordinate Cooperate, strengthen strengths and avoid weaknesses, and give play to advantages in order to better achieve marketing goals. A controlled marketing strategy designed by the company to achieve the desired response in the target market. Marketing mix influences products

Marketing Mix

Marketing mix, or marketing means, refers to the comprehensive use of a series of marketing tools that a company uses in the target market to chase its marketing goals. ^[2]

In 1953, Neil Borden coined the term "marketing mix" in his inaugural speech at the American Marketing Association. ^[4]

The marketing mix has the following characteristics:

1) Controllability.

2) Dynamic.

3) Complexity.

4) Integrity. ^[5]

4p Marketing mix 4p

Product (Customer Value); Price (Customer Cost); Place (Customer Convenience); Promotion (Customer Communication) );

Marketer E. Jerome McCarthy proposed the 4P classification in 1960, and marketers around the world started using this model.

Product-A product is an item that meets the needs of consumers. It can be a tangible product or an intangible service. Intangible services can be tourism, hospitality, finance, etc. Tangible items are forms of physical existence. Common examples are mass-produced tangible items, such as cars or disposable razor blades. Another mass-produced intangible product is a computer operating system. Price-is the price consumers are willing to pay for the product. Adjusting prices has a profound impact on market strategies and needs to be based on the price elasticity of the product. Generally speaking, it will affect demand and sales. Promotion-A communication method used on behalf of various marketers to allow different groups to understand the product. Promotions generally include: advertising, public relations, personal sales and sales promotions. Product Location-Put your product in the right place for easy access by consumers.

6p Marketing mix 6p

Government power relies on negotiations between the governments of two countries to open the door to the market of another ^[6] countries.

Public relations (public relations) use the power of the news media to establish an image report that is good for the company and eliminate or slow down the image report that is not good for the company.

"The two harms meet the lightest" "soft advertising"

"Public opinion" will play a greater role in China.

7p Marketing mix 7p

Product, price, promotion, distribution channel, personnel, physical display, service process.

10p Marketing mix 10p

Probe (probe) is exploration, which is market research. Through research, you can learn about the market demand for a certain product, and what specific requirements are there.

Partition is the process of market segmentation. Segmentation by factors affecting consumer demand.

Priority means choosing my target market.

Position (position) is to give certain characteristics to the products produced by themselves, and to form a certain impression in the minds of consumers. In other words, the process of establishing a product's competitive advantage.

11p Marketing Mix 11p

(Known as big marketing)

People (people can only meet needs when they find needs), this process depends on employees. As a result, companies are looking for ways to motivate their employees.

4Cs; Marketing mix 4Cs;

In response to the problems of the 4p theory, Robert Lauteerborn of the United States proposed the 4Cs marketing theory from the perspective of marketers. That is, if the company wants to be invincible in market competition, it must strive to satisfy customers as economically and conveniently as possible While maintaining effective communication with customers.

Including the following aspects:

Consumer needs and wants

Cost to consumer

Convenience

Communication