06 Jul APPLICATIONS OF MARKETING ELEMENTS
So far you have learned about several marketing elements. Some of these elements may share similar ideas, while others do not. Recall that the 4 Ps of marketing can be applied to most kinds of situations. In this activity, you will explore the marketing elements and identify specific situations in which they can be applied. For example, let’s look at the marketing mix for PepsiCo. In 2007, the company restructured to split itself into three units: one for food in the U.S., one for beverages in the U.S., and one for food and drinks overseas. The product for PepsiCo consists of beverages, savory food snacks (Fritos, Cheetos, Tostitos, Lays), other food products (cereals, cakes), and baked snacks (the nutritious snacks and foods consumers are demanding).
Notice this last product (nutritious snacks and foods); why would PepsiCo create this? This opportunity was necessary in order for the company to survive. This will become a strength (if all goes well and the food tastes good), and help the company provide targeted marketing segmentation. Price can be tricky; if the company prices too high, then customers won’t purchase it, but if the company prices the product too low, then they run the risk of demand being higher than supply, which will create frustration for the consumer and “forces” them to purchase another product.
In your initial response, reflect on two marketing elements that have been presented in this module. Be sure to include a clear and specific explanation of the two marketing elements that you have chosen.
- Create and include in your post a grid of two examples in which each of the elements have been applied. See below for a sample grid.
- Respond to the following prompts in your initial post:
- Which one of the marketing elements do you think is most important?
- What are the advantages and/or disadvantages of the marketing element? Explain why. Justify your claims and include references as applicable.
- References:
- Friesner, T. (2014, May 8). What is marketing? Retrieved from http://www.marketingteacher.com/what-is-marketing-2/
- Friesner, T. (2014, May 8). Marketing environment. Retrieved from http://www.marketingteacher.com/marketing-environment/
- Pages 3-28 in
Tanner, J. & Raymond, M. A. (2010). What is marketing? In Principles of marketing. Retrieved from http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf
- Module Notes: The Marketing Environment
- MIN 300 WORDS
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.