1. A marketing mix is the balance of product, price, promotion, and place; other–
wise know as the four P’s. These marking plan strategies start at product collaborations
and pricing to create offers to customers that will have value. Then they find the best
and most convenient locations to sell and deliver the product. Furthermore, the store is
also set up in a particular way that is a appealing to the consumer and will promote ex-
tra purchases when inside the store. In marketing promotion doesn’t mean advertising it
means promoting the products though communication and education to customers. The
end goal is to have the customer see a need to have these products or services in their
life. This is controlled by the company to help influence the customers to purchase their
products. Marketing is always changing their strategy to continually put consumers into
the shopping process, thus keeping sales high.
Over time, the strategy has changed from the four P’s (product, price, placement,
and promotion) approach to the current value- based approach. This approach builds off
the marketing era where products were built with the same basic function but added
slightly different twist or feature that appealed to a wide variety of consumers. We still
use this tactic, but in the current value-based approach there is currently a bigger em-
phasis on creating value for the customers. In the value era the key is to build relation–
ships with customers and seek to serve the customers needs on an individual basis.
The better the business to individual relationship there is there is a better chance on
picking up on purchasing habits or purchasing needs and tailor the selling other prod–
ucts or services to them.
2. Everyone engages in marketing; For- Profit and Nonprofit companies are the
most obvious to distinguish. But marketing also happens when conducting an effort to
promote social change all the way down to people as individuals. For- Profit companies,
like McDonald’s for example, market themselves with newly added menu items during
different seasons. They advertise and put new or certain products at a discount or in a
bundle deal. This will make people tempted to eat there because of a good deal or a
new menu item. They want to try these items that will only be around for a limited time
increasing the companies profit.
Nonprofit companies like The American Heart Association (AHA), created heart
healthy diet menus and have marketed them through their website or pamphlets. AHA
also sends copies to doctors to pass along to patients that would benefit from the heart
