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The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing." These four P's are:
The four parts include consumer, communication, convenience and cost, taking into consideration the needs and wants of consumers. Integrated marketing communications accomplished synergy when each element was executed in accordance with the overall vision of the organization's campaign, which allows the message to be executed efficiently. [61]
[4] Sponsorship of an event, contest or race is a way to generate publicity. [4] Guerrilla marketing tactics are unconventional ways to bring attention to an idea, product or service, such as by using graffiti, sticker bombing, posting flyers, using flash mobs, doing viral marketing campaigns, or other methods using the Internet in unexpected ...
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
In the 1990s, the concept of four Cs was introduced as a more customer-driven replacement of four P's. [147] There are two theories based on four Cs: Lauterborn's four Cs ( consumer , cost , communication , convenience ) [ 148 ] and Shimizu's four Cs ( commodity , cost , communication , channel ) in the 7Cs Compass Model ( Co-marketing ).