Marketing Exam Question (Marketing Mix) Essay Example | Topics and Well Written Essays - 750 words

trade Exam Question (Marketing Mix) - Essay ExampleSo what is securities industry componentation? Consumers differ and they place differing degrees of immensity on the individual elements of the marketing go. They differ not only in the price they will pay, nevertheless in a wide range of benefits they expect from the product and its method of delivery. As a result, the market becomes split into several segments. (SBDC, 2005)SBDC, (2005) argued that understanding the concept of segmentation is central to marketing because each different customer group will require a different marketing mix strategy and that each segment will offer differing growth and profit opportunities so the trick is to deliver the crush offer to the best segment.Assuming now that there is market segmentation, it is now easier to answer the question how to have differential advantage. SBDC, 2005 sure saying Differential advantage can be obtained via almost any element of the marketing mix - creating a su perior product, more attractive designs, better service, more effective distribution, better advertising and so on. These are actually the three Ps which include the Product (creating a superior product, more attractive designs, better service), Place (more effective distribution) and Promotion (better advertising) The key is to understand that the advantage must be based on research into what customers really value and that the differential is developed after due precondition of competitive strategies and offers. (Emphasis supplied). With the three Ps strategically combined, the quaternityth P, which is Price, would be easier to handle. In fact the solve of the differential advantage is to avoid mere competition based on price, because the customers look at the four Ps as four Cs. These four Cs include apostrophize to the customer for price, convenience for place, communication for promotion and customer needs and wants for product.It must be noted that conditioned what