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Marketing Mix
The success of a company relies greatly upon proper marketing. A company must have a proper mix of all the elements and marketing efforts in order to produce desirable sales results. This mix will include the variables and tools a company will use to satisfy the business objective and the needs of their potential customers. This mix which is determined by marketing research and experimentation is commonly known as the marketing mix. This mix consists of four variables which the business world often refers to as the "Four P's". The Four P's are product, price, place and promotion. Through this paper I will define how the use and effectiveness of these variables lead to the success of an organization when properly coordinated together.
Product is one of the components used in the marketing mix to attract a company's target market. In relation to the marketing mix product is defined as, "an object or a service that is mass produced or manufactured on a large scale with a specific volume of units" (Wikipedia, 2006). Determining the product or service and who it will be produced for is the first step in marketing. In the automotive industry the product is a key element of the marketing mix. With the current trend towards the preservation of the environment and its natural resources, automobile manufacturers are developing products geared towards consumers with these concerns. These environmentally friendly vehicles include hybrids, electric cars and cars that operate on corn based ethanol fuel as opposed to gasoline.
By selecting to focus on env ...