Mkt 421 - Marketing Mix Paper

Marketing Mix Paper

Jason B.

University of Phoenix

MKT/421

Professor Dr. Catherine Jones

August 18, 2011

Marketing Mix Paper

Although it may be conceded that most Americans are ravenous consumers, that is, they have income to buy things, goods, or services, businesses must provide an opportunity to the ravenous consumers to part with their money. This is where marketing mix comes in. Because as spend as most American maybe, they are selective on the quality, quanity, cost and brand. Marketing mix is a key phrase that that describes the use of Four P’s (product, price, place, promotion) that sums up marketing mix. This paper shall describe the elements of marketing mix (product, place, price, and promotion) and how each element is implemented in the McDonalds Corporation .

For a company to be a company it must provide a “Product”. By product, I mean a good or service for the target customer needs. Without a product, a company or business simply could not exist. “The Product area is concerned with developing the right “product” for the target market. This offering may involve a physical good, a service, or a blend of both.

Keep in mind that Product is not limited to physical goods. For example, the Product

of H & R Block is a completed tax form. The important thing to remember is that your good or

service should satisfy some customers’ needs. Along with other Product-area decisions like branding, packaging, and warranties, we will talk about developing and managing new products, product quality, and whole product lines” (Armstrong, Gary