MARKETING MIX TOOLS

Marketing carries along certain aspects under which the probability of prosperity lies upon and to which must get the right fitting for the positive returns to get achieved. In our company that produces soft drinks, a new product was launched two years ago, and its current shape in the market has been tremendously appealing and earning big for the company with the acceptance and consumption by the customers. It has been attributed to contributing in the recent one year the best proceeds for the company since its inception. The application of this product, however, lays its basis on the marketing system that was inducted using the tools for marketing. The four P’s of marketing that is Price, Place, Promotion, and Product have brought that success with their complementing provision for each other as discussed in the paper.

The price provides as the determining factor under what terms the buying or selling of any commodity will take place or will get exchanged within. It is simply how much the customer pays for the product during the transaction time, (Al Badi, 2015). The price of our product was made to cost lower than the other existing goods as well as the market price given its current state of being a newer product and the need for a unique price against what others offered. With an accommodative price for the population and the product being of great quality, the product sold out easily within the market state. The favorable price of the commodity walked hand in hand with its quality in taste and preference within the market.

It is the locality on which the product is being sold or to which target group that the product has been made for, (BBC - Higher Bitesize Business Management, 2011). To provide for our product, the company used a target of major cities under which there was a provision of potential population and who could adapt to change immediately. It also involved to open up warehouses in other regions making it conveniently available to the general population since it was consumable and nutritious to all. Under this measure of the place, the product applied to sell out to the correct and right group. It is through this that the product has been accepted all over the country and has continued to be in high demand with each day attracting new customers.