Marketing Mix Essay

IntroductionCompanies today try their best to handle to forest severally(prenominal) up with the changes of services, products and technology. Companies entrust on their abilities in trade to keep consumers interested in their products and services. The success of a follow may rely on the companys trade performance. selling planning starts by cerebrateing of the tar cuted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy give live of the marketing shamble. The marketing mix is the strategic plan that defines the companys overall mission and intents. (Armstrong & Kotler, 2011) dah will be used as an example as to how they use the marketing mix to their company. hyphens overall mission and objective is To be No. 1 in providing a simple, instant, enriching and productive guest experience. ( style, 2012) The marketing mix includes the quaternion Ps ( divisions) of marketing. The four Ps be product, pla ce, set, and promotion. To better explain how the four Ps work in a company we will see how Sprint applies the four Ps to their company.Frist P Element ProductsSprint is constantly trying to keep up with the technology changes to ensure node satisfaction. Sprint is whiz of the premier receiving set providers for smart mobilizes in the US. (Sprint, 2012) Sprint cells top of the line phones and phone services for residential customers as well as business customers. Sprint is not hold to hardly saucy products or service, but to upgrade products or services that are already established as well. vendors decisions on products are based on the nature of what the customers needs are.For Sprint to make sure they are earreach to their customers and to know what their needs are they flip blogs and chatting sessions on their website where everyone from customers to employees kindle appoint their comments, ideas, suggestions and opinions ab bulge out improving products and servic es that are already established. Improvements can consist of phones to be cap subject to handle more information or saucily technology added to the phones. Improvements can also be as simple as color or size. Decisions on products are also by the tar find oneselfed customer (younger=texting abilities, older=tracking system for their children, oldest=being able to see the song on the key pad). Improvements may also be a wider cheat on of service accessibility for fewer calls dropped.Second P Element depositWhere can Sprint be accessible to their targeted audience? Sprint makes themselves functional through their website, kiosks in malls, as well as local Sprint stores. All places provide the phones and services needed. Not only regular customers are targeted, businesses are targeted as well. Sprint stomachs plans for businesses which provide packages which consist of several phones on one plan. The business plans are specifically designed to make it easier to bearing daily bus iness transactions. The store supplies physical one-on-one people for those customers who favour the person-to-person interaction. The store also provides a hands-on scenario where customers are lay off to look at the phones and see what they look, sound and feel analogous.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 clip of phone choices (new and used), wide range of services (phone service, wireless service, etc.) and for customers that need to hold question, Sprint provides online help (chat session, contact subjects, website links). The kiosk is just a gizmo catcher. It is in a mall in hopes that a passing by customer will catch a glimpse of the products and be unpaired enough to stop, ask questions and possibly purchase a product on their way 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 cover and provides total accessibility to their customers in order to provide them with quick and pleasant service unattached. In marketing a place is also cognise as the warehouse where, in this case, Sprint houses their phones for distribution so it is available for its customers.Third P Element PricingPricing is a of import part of the four Ps. Price is also considered a flexible marketing mix element. Marketers must consider the research, development, and services when pricing. In addition, marketers stand to think about the how their company will price their products and services based on how much they will spend on fabrication and how competitors are pricing the same products and services. Customers are an important thought in the pricing mathematical process as well because they are the ones that are going to produce the tax for the company. Marketers are also at the mercy of the economy they will have to price low enough to get a unassailable number of customers and gain a profit, but no low enough that they will get financially hurt in the process.Producing the right or good price for products and or services a company top executive have to consider redesigning products and services that may already exist. Sprint might offer better phones at a lower service plan or a better service with less expensive plan. Many time Sprint offers free phones to get new customers to purchase their service plan. Customers are given several options so that they do not feel manage they are trapped picking a plan that does not go for their needs.Fourth P Element progressionThe last element is promotion. Promotion means activities that communicate the merits of the product and persuade target customers to buy it.(Armstrong &Kotler, 2011) This element is the one that helps with enticing the customers to buy their pro ducts and services. Promotions are done in numerous ways. Ways of promotion may include, but are not limited to, deals, rebates, discounts and internet sales. Deals are short-term price reductions, commonly used to growth trial among potential customers or to retaliate against a competitors action. (Kerin, Hartley & Rudelius, 2011) Deals and discounts are a very common way of promotion. some 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 item feature 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 rebate 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 portion or all of the bullion you paid for the phone fo r 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 given 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 consume online.The same went for their website they were able to provide online specials that were not given in the store. about 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 apothegm the promotion online and ask if the store would honor it. Unfortunately, the answer to the customers question would be no.ConclusionThe four Ps treat as the four main parts of the marketing mix. As shown each one of them has an individual function. Each element is equally important 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 faculty 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 bit complicated at times. At times, not all customers will be satisfied and the company might suffer a loss but the ultimate 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 HallKerin, R. A., Hartley, S. W. & Rudelius, W. (2011). Marketing (10th ed.). New York, NYMcGrawHillSprint.com (2012) About Sprint. Retrieved on December 20, 2012 fromhttp//www.sprint.com /about/