Marketing Mix

Essay by hilaribUniversity, Bachelor'sA, February 2008

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Marketing is a process where a product is defined; a plan is created for productions, sales, implementation, support and production. An effective market plan will incorporate products and services to meet a market need to create exchanges that will meet organizational objectives. This process is made up of a combination of processes referred to as the marketing mix. The term "marketing mix" became popular after the publication the article, The Concept of Marketing Mix, by Neil H. Borden. "Borden's marketing mix included product, planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis"(Internet Center for Management and Business Administration, Inc. [ICMBAI], 2002). The common marketing elements used to execute a marketing campaign effectively are product, price, place, and promotion, otherwise known as the 4 P's. This paper will outline how DELL has utilized the 4 P's to build a strong market mix.

ProductProducts are items or services made available for consumer purchase. One of the first steps in determining a marketing mix is to understand the customers want or need for a service or product. When determining a product for market things to consider the need the product will satisfy for the customer, the value the product will provide the customer, the look and feel of the product, the name of the product(how will it differentiate from other similar products in the market)(Mind Tools Ltd. [MTL], 2007). DELL has positioned their product offering in the market as a strong producer of quality computer products and services. The DELL portfolio continues to expand by offering not only computers but printers, sound systems, and monitors. In addition DELL strategically adds new offerings to position themselves in existing markets. By continuing to add to their product portfolio allows DELL to increase their market segmentation.