MKT 230 Week 1 - DQ 2 - 7917

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the marketing mix to discuss. Describe the key points of good or service as it applies to
the piece of the marketing mix assigned to you (product, price, promotion, and place).
How will your good or service be affected by other 3 pieces of the marketing mix?
Consider the following questions when responding to your classmates: What
recommendations do you have that will expand on their ideas? What could you do as a
marketing team to expand the market potential of a product?


   Marketing Mix includes the 4P's of marketing:

     - Product
      -Price
     - Place
     - Promotion

     these 4P's are the parameters that the marketing manager can control, subject to internal and external constraints of the marketing decisions that center the 4P's on the customers in the target market inorder to create perceived value and generate a positive response.
     Place refers to how an organization will distribute a product or service they're re offering to the consumer.  Effecient, effective distribution is essential as the product must enter the supply chain at the right time and right place to ensure it meets the consumer demand.  Place is also referred to as distribution in terms of getting the product to the consumer.  Examples of distribution decisions include:
     - Distribution channels
     - Market coverage
     - Specific channel members
     - Inventory management
     -Warehousing
     - Distribution centers
     - Order processing
     - Transportation
     - Reverse logistics
     In order to successfully use placement of an item or business you must first identify:
     - How to get an item to the consumer when they still want it
     - How to keep the consumer satisfied
Part of the placement strategy must include the positioning of the product, assessing the competition and thinking about its' future.
     Finally, the distribution system associated with place performs transactional, logistical, and facilitating functions which include market coverage, channel member selection, logistics and levels of service.



Product pricing is extremely important when marketing a product. Products need to be affordable to the majority of the public. If a product is not affordable, it does not matter how convenient it is located or how it is promoted, if it is not affordable people will not purchase it. It is important for a place to have a need for the product you are trying to market, but again, once you determine the basic need potential of a place and decide to market a product; the product needs to be affordable.


When it comes to the Product - one must ensure that its is marketable and that both the supply and demands are present. Pricing - a good market-(teer) must balance the price not letting it be sold to cheaply as to not make a profit and it mustn't be to high as to miss the targeted group thereby causing the goods to be left on the shelves of the stores. Promotion - it is the effectiveness of the adverting that will bring the product to the attention of the consumer, as we all know kids toys are well marketed during Saturday morning while the cartoons are on because that is when the child/children are in front of the television, another thing about promotion is if one fail to advise its product going into business, they will in time advertise its going out of business. Place - the key phrase that comes to mind is "location, location,location" at times the place is just as important as the location of which you are selling, pricing and promoting the said product. One must be a true visionary when it comes to selecting the place in which to do business because it can determine the success or the failure of ones business. When trying to expand the potentiality of a product we must take into account the 4 P's thereby covering all our bases to ensure its success.

        Place or placement in the marketing industry is very important. It is vital to the success of a certain product or business. Lets take a pharmacy for example. If this pharmacy opens in an area where there is not another pharmacy for miles, it stands a good chance to be successful. This pharmacy will be able to attract and serve all of the surrounding resident, as it will be of great convenience to them. In this situation, much like real estate, location/placement is very important. The ability to get a highly needed product to the waiting public is key in a businesses success. Now lets take a car dealership for example. Moving those cars off the lot and into the driveways of peoples homes is the objective. Everyone is not gong to see commercials or advertisements, but if this dealership is a part of your everyday travels; there is a good chance the public will remember it. Look around your own city or town and pay attention to the location of successful car dealerships. They ideally try to set up shop on major thorough fares, near major freeways, or in high traffic areas. They want you to see them as much as possible. And when that day comes that you are in the market for a new Honda, your mind will instantly remember that there is a Honda dealer on 5th and Grand, near your job. You know, the one with the massive neon sign that nearly blinds you on your way home at night. It is a matter of making the product available, and placement is important in this crucial task.  

Solution Description

the marketing mix to discuss. Describe the key points of good or service as it applies to
the piece of the marketing mix assigned to you (product, price, promotion, and place).
How will your good or service be affected by other 3 pieces of the marketing mix?
Consider the following questions when responding to your classmates: What
recommendations do you have that will expand on their ideas? What could you do as a
marketing team to expand the market potential of a product?


   Marketing Mix includes the 4P's of marketing:

     - Product
      -Price
     - Place
     - Promotion

     these 4P's are the parameters that the marketing manager can control, subject to internal and external