Marketing Mix Essay

incomingCompanies today try their best to continue to preserve up with the changes of goods, products and technology. Companies rely on their abilities in market to keep consumers interested in their products and serve. The success of a disassociateicipation may rely on the partys marketing performance. merchandise planning starts by thinking of the tar bring outed consultation needs, strategies, and the development of the products and or helper needed. Developing a marketing strategy go out consist of the marketing riffle. The marketing unite is the strategical plan that defines the telephoners over all told guardianship and accusings. (Armstrong & Kotler, 2011) elan will be used as an example as to how they implement the marketing mix to their comp any. dashs overall mission and objective is To be No. 1 in providing a simple, instant, enriching and productive client experience. (Sprint, 2012) The marketing mix includes the quartet Ps (elements) of marketing. Th e four Ps ar product, place, pricing, and promotion. To better explain how the four Ps maneuver in a company we will mind how Sprint applies the four Ps to their company.Frist P constituent ProductsSprint is constantly trying to keep up with the technology changes to ensure customer satisfaction. Sprint is maven of the premier wireless earmarkrs for smart tele shout sets in the US. (Sprint, 2012) Sprint cells top of the line call backs and ph sensation run for residential customers as swell up as caper customers. Sprint is non limited to precisely immature products or service, but to enhance products or run that be already established as well. venders decisions on products argon based on the nature of what the customers needs are.For Sprint to doctor sure they are listening to their customers and to live on what their needs are they leave blogs and chatting sessions on their website where everyone from customers to employees digest share their comments, ideas , suggestions and opinions about improving products and services that are already established. Improvements can consist of phones to be competent to handle more information or in the altogether technology added to the phones. Improvements can likewise be as simple as color or size. Decisions on products are to a fault by the stoogeed customer (younger=texting abilities, quondam(a)=tracking system for their children, oldest=being fit to implement the subprograms on the key pad). Improvements may also be a wider dictate of service handiness for fewer calls dropped.Second P part broadcastWhere can Sprint be accessible to their targeted audience? Sprint makes themselves avail satisfactory through their website, kiosks in malls, as well as local Sprint stores. tout ensemble places provide the phones and services needed. Not only rhythmic customers are targeted, transactiones are targeted as well. Sprint offers plans for caperes which provide packages which consist of sev eral phones on one plan. The business plans are specifically designed to make it easier to transfer daily business transactions. The store supplies physical person-to-person people for those customers who prefer the person-to-person interaction. The store also provides a hands-on scenario where customers are free to nip at the phones and see what they look, sound and feel like.The store provides a comfortable opportunity for the customers to make a personal educated choice. On the other hand, Sprint also provides their website. Sprints website provides a wider range of phone choices (new and used), wide range of services (phone service, wireless service, etc.) and for customers that need to take up question, Sprint provides online help (chat session, liaison numbers, website links). The kiosk is just a convenience catcher. It is in a mall in hopes that a flitting by customer will catch a glimpse of the products and be curious enough to stop, necessitate questions and possibl y purchase a product on their counselling to another store.The store, website and kiosk are designed to give the customers all the tools and information needed to make the best choice for their personal or business needs. Sprint prides itself to making sure all their bases are covered and provides total accessibility to their customers in nightclub to provide them with quick and convenient service available. In marketing a place is also know as the warehouse where, in this case, Sprint houses their phones for diffusion so it is available for its customers.Third P Element PricingPricing is a crucial part of the four Ps. Price is also considered a tensile marketing mix element. Marketers must consider the research, development, and services when pricing. In addition, marketers have to think about the how their company will worth their products and services based on how much they will spend on deception and how competitors are pricing the same products and services. Customers are an of the essence(predicate) thought in the pricing process as well because they are the ones that are going to make the revenue for the company. Marketers are also at the lenity of the economy they will have to charge starting time enough to get a good number of customers and gain a profit, but no minor enough that they will get financially lessened in the process.Producing the right or good charge for products and or services a company efficiency have to consider redesigning products and services that may already exist. Sprint dexterity offer better phones at a lower service plan or a better service with less expensive plan. Many times Sprint offers free phones to get new customers to purchase their service plan. Customers are apt(p) several options so that they do not feel like they are trapped picking a plan that does not accommodate their needs.Fourth P Element advancementThe last element is promotion. Promotion means activities that communicate the merits of the p roduct and persuade target customers to purchase it.(Armstrong &Kotler, 2011) This element is the one that helps with enticing the customers to buy their products and services. Promotions are done in numerous ways. ship canal of promotion may include, but are not limited to, deals, discount rates, discounts and internet sales. Deals are short-term price reductions, third estately used to increase trial among authorisation customers or to retaliate against a competitors action. (Kerin, Hartley & Rudelius, 2011) Deals and discounts are a very super C way of promotion. Al closely all retailers use deals in order to bring in existing, as well as, new customers. Sprint sometimes will have deals where you can add a particular indication to your phone service like texting. These deals go on for a particular amount of time just so you can try it for a discounted price in hopes to get you to purchase the feature.One common promotion that Sprint offers is rebates. Sprint gives out rebat e promotions on some of their phones. A rebate, for example, is when a phone is purchased and the company (like Sprint) is willing to give you a grammatical constituent or all of the money you paid for the phone for using their service. You will not be able to buy a phone without the service in order to get the rebate. At times the rebate is wedded when trying a new phone that they are piloting. Internet promotions are another way of getting people to buy products and services. Although Sprint is over both the store and the websites, they were able to provide in store special promotions that customers were not able to hold online.The same went for their website they were able to provide online specials that were not given in the store. Most of the time the promotions were on phones customers were able to purchase phones with a special on service or customers were able to purchase phones that have been refurbished or used. These particular internet promotions were not available if the customer went to the store and said that they saw the promotion online and ask if the store would honor it. Unfortunately, the answer to the customers question would be no.ConclusionThe four Ps serve as the four of import parts of the marketing mix. As shown each one of them has an individual function. Each element is equally weighty on its own as well as a whole of the marketing mix. All of the elements are an effective part of a successful gang. The combination consists of reaching the customers needs and wants and the companys ability to produce revenue and profits. The four P elements of the marketing mix is one of the most crucial parts of a companys marketing today and it proves to be a s complicated at times. At times, not all customers will be satisfied and the company might suffer a loss but the crowning(prenominal) goal is to be successful by any means using the help of the four Ps.ReferencesArmstrong, G. & Kotler, P. (2011). Marketing An Introduction. (10th ed.). Upper SaddleRiver, NJ Prentice dormKerin, R. A., Hartley, S. W. & Rudelius, W. (2011). Marketing (10th ed.). New York, NYMcGrawHillSprint.com (2012) About Sprint. Retrieved on declination 20, 2012 fromhttp//www.sprint.com/about/