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The ‘marketing mix’ concept is one of the most fundamental marketing concepts covered in this course. The basic elements of a marketing strategy consist of the target market and the marketing mix variables:
Product/Service - what the company produces to satisfy the target market
Distribution - how to get the product to the target market
Promotion - how does the company advertise to the target market
Price - what product price will satisfy the target market
Marketers must consider each of these elements within the context of the environment in which the market exists. You learned about the main environmental categories in unit 1 (Competitive, Social-Cultural, Technological, Economic, and Political-Legal). The subsequent units will cover the marketing mix variables in more detail.
This assignment will begin to acquaint you and require you to apply the marketing mix variables. To begin, choose a specific consumer product or service that you are familiar with and analyze the product or service within the context of the four marketing mix variables above. Additionally, round out your analysis by discussing how two of the five environmental categories specifically affect the marketing environment of your product/service. This assignment should be at least 500 words in length and properly cited