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Marketing Mix Model Article
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Marketing Mix and Marketing Concept
from:A marketing concept is one that is consumer oriented, value driven, integrated, market driven and goal oriented. While this is a textbook definition, this definitely gives a generalized idea of what a marketing concept is. There are a few distinct parts of the marketing concept which helps to explain how to further understand the concept and apply it in real world setting.
First, it is key for businesses to be consumer oriented. This means that the business is aware of what the consumer’s want, at what price they are willing to pay for it and where or when they will buy it. Many consider this part of the marketing concept the research section or portion. A business that can effectively determine and analyze the needs of the market will most certainly enjoy success if they make the proper decisions based on these needs.
A value driven company means that your products are superior or at least perceived to be superior to those products in the marketplace at a similar price point. The consumer sees your service or product as being worth more than the prices charged and the amount that it costs to make the product. Value driven aspects in your marketing and business plan will allow you to make a profit easier because your customers will almost always be willing to buy your product.
An integrated concept means that all aspects of the company work well together. No single groups such as sales or accounting is too far removed from the rest of the company. By keeping the groups together, a company can make smart decisions while maintain lines of communication that are open.
A market driven company is a company that is completely married to the concept of being consumer oriented. This type of company can easily adapt to fluctuations in the market and capture a larger segment of the marketplace because of this ability. This kind of company can effectively serve customers while meeting their every need.
A goal oriented company is one that can effectively lay out both short term and long term plans. This company successfully strives to reach the goals that they set for themselves. Goals that are planned well and well thought out can help a company to complete the tasks at hand while accomplishing all of the additional aspects of the marketing concept.
Together these components of the marketing concept may seem overwhelming. However, broken down into individual tasks or sections, can help a business do the proper amount of planning in order to succeed.
Marketing Mix Model Specific links
Marketing Mix Model News
According to Convertro, Television Spending Boosts Revenue per Click for ... - MarketWatch (press release)
According to Convertro, Television Spending Boosts Revenue per Click for ... MarketWatch (press release) Clients that had never purchased TV previously but added it to their marketing mix during the study period 2. Clients that lowered or increased media spends during specific time periods for purposes of measuring impact both on TV and Online 3. |
New VNXe model highlights new EMC product announcements for channel - eChannelLine
New VNXe model highlights new EMC product announcements for channel eChannelLine "We have added quad core processors, to provide more performance and more capacity in the same 2U rack space," said Johnathan Siegal, Senior Director Product Marketing, EMC Unified Division. "We have also added the ability to use 2.5 inch drives, ... |
Attribution and View-Through Search Conversions - ClickZ
Attribution and View-Through Search Conversions ClickZ Credit should be given to media and marketing touch points where credit is due. The fundamental premise behind attribution models and more sophisticated econometric marketing mix models is that influence delivered by a marketing, media, or advertising ... |
Acorn International Reports First Quarter 2012 Financial Results - MarketWatch (press release)
Acorn International Reports First Quarter 2012 Financial Results MarketWatch (press release) "Revenues declined in the first quarter of 2012 primarily due to fewer mobile phone sales resulting from a decrease in existing phone model sales and the delayed launch of new feature phones. As China's mobile phone market transitions from feature ... |
Nutella Says Facebook Ads Outperformed TV - ClickZ
 ClickZ | Nutella Says Facebook Ads Outperformed TV ClickZ Nutella is employing the decades-old marketing mix model (MMM) - a nuanced sales attribution system for integrated campaigns - to measure the effectiveness of Facebook ads. For instance, the company, which sells chocolate hazelnut spread, ... |