The Marketing Mix

Marketing Portfolio This product is the most important aspect of marketing mix. The product can be a service or a vacation destination. Products have advantages both visible and invisible. Specific merits include measurable benefits such as the maximum speed of a car. Intangible profit is an unmeasurable profit such as pleasure that customers receive from products. It is important to update and update the product as necessary, so that it will not be overtaken by competitors.

The term marketing mix was created by Neil H. Bordon in an article titled "The Marketing Mix, 2010". A marketing mix is ​​a concept a company uses in the marketing process. This is called a series of controllable tools that companies can use to create the required level of product demand in the market. Basically it constitutes 4P for marketing, but in some cases they extend to 10P marketing. However, in this report, Apple Inc.'s marketing mix analysis will center on the six most important marketing Ps of products, people, price, placement, promotion, and personality.

The marketing mix of Wal-Mart is developing mainly on the nature of the company's retail business. The company's cost advantage GM strategy also defines a marketing mix. Wal-Mart's overall performance in the global retail market is related to its marketing mix strategy. With continued leadership as the world's largest retailer, Wal-Mart is expected to adopt the same marketing mix as the global expansion. The strategy included in the company's current marketing mix has been quite successful. Therefore, it is realistic to keep using it as it is. However, Wal-Mart can improve the current marketing composition. Especially in the location / distribution component.

I realized that the marketing mix of Wal-Mart effectively supports company's success. However, there are still places where Wal-Mart stores do not exist or are difficult to access. This is especially true for the markets of developing countries. Therefore, Wal-Mart needs to improve the location / distribution component based on the characteristics of its marketing mix. Specifically, companies can enter new markets and enter current markets through foreign direct investment and joint ventures. In this way, the location / distribution elements of the Wal-Mart marketing mix can provide companies with competitive advantage and strong support for ongoing success in the global market.