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The elements of the marketing mix
This paper will cover the elements of the marketing mix with an organization which I have
selected that I have been familiar with. The company that I have selected will be United
Parcel Service. I will breakdown and describe the marketing mix and discuss in detail the
product, place, price and promotion parts of this mix.
Let us first start with what a marketing mix is defined as. A marketing mix is known as
one of the most used phrases in the marketing industry. The marketing mix is also well know as
the four P's. What is interesting about her marketing mix is that the customer is not part of the
marketing mix. (Perrault, Jr & McCarthy, 2005, 7/ch 2)Looking at the first element of the
marketing mix will be the product or product life cycle... The product is what the company is
known for and is normally a good or service that is sold to the customer. The product life cycle is
in theory the same as the product. According to www.marketingteacher.com, the product cycle is
put into motion by having a developmental stage introduced. This stage is released into the
market. The idea is that the product will gain more and more customers as the product grows.
Once the market stabilizes and the product becomes mature during the development period, then
the product is overtaken by the introduction of superior competitors. The product then goes into
decline and is withdrawn. In some instances, the product maybe promoted again to regain
customers. Some strategies that are used to ...