A Marketing Expert Named E. Jerome Mccarthy - 1219 Words

A marketing expert named E. Jerome McCarthy created the Marketing 4Ps in the 1960s. This classification has been used throughout the world. Business schools teach this concept in basic marketing classes and the marketing 4Ps are also the foundation of the idea of marketing mix. Product: A product is an item that is built or produced to satisfy the needs of a certain group of people. The product can be intangible or tangible as it can be in the form of services or goods. You must ensure to have the right type of product that is in demand for your market. So during the product development phase, the marketer must do an extensive research on the life cycle of the product that they are creating. A product has three life circles, the growth phase, maturity phase and decline phase. Marketers have to reinvent their product to increase the demand once the product reaches the state of decline. A good marketer must ask this question â€Å"what will I do to offer more lucrative services more than my competitors† In developing the right product, you have to answer the following questions: †¢ What does the client want from the service or product? †¢ What features must the product have to meet the client’s needs? †¢ Are there any necessary features that you missed out? †¢ Are you creating features that are not needed by the client? †¢ What’s the name of the product? †¢ Does it have a catchy name? †¢ How is the product different from the products of your competitors? †¢ What does the product look like?Show MoreRelatedA Research on Marketing Mix of Ntv International Television Channel Ltd2977 Words   |  12 Pagesresearch on Marketing Mix of NTV International Television channel ltd† Submitted To: Dr.AHM Ehsanul Huda Chowdhury Course Instructor Course: Marketing Research Section-A BBA Program Submitted By: Shanta Sanjida Islam ID: 08-10331-1 ---------- Submission Date: 10/04/2012 ---------- Marketing Research Report on â€Å"Marketing Mix ofRead MoreThe Marketing Management Of Coca Cola9915 Words   |  40 PagesIntroduction The purpose of this Group Marketing Management Project is to describe and discuss various aspects and disciplines in the realm of marketing employed by a specific product or organization including background information on the product, market analysis, market positioning, competition, branding, services, pricing, promotions and socially responsible marketing. The following explores the prolific and expert marketing practices of Coca-Cola. Description of Product and Brand Coca-ColaRead MoreMarketing Management130471 Words   |  522 PagesDBA 1652 Marketing Management UNIT -- I Unit No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Unit Title Marketing management – an introduction Marketing environment Marketing with other functional areas of management Market segmentation Market targeting and positioning Product management Brand management Pricing Channel design and management Retailing and Wholesaling Integrated Marketing Communication Advertising management Sales promotion Personal selling PublicRead MoreMarket Analysis of Jeans Industry in Surat17928 Words   |  72 PagesPROJECT REPORT ON â€Å"Market analysis of jeans industry in surat† In Partial Fulfillment Of The Degree Requirements Towards The Bachelor in Business Administration Submitted By: Ritu Mishra Roll no -28 (Marketing) Sem -6th Submitted To: Mr.Ashish Sukhadiya SURAT 2009-2010 ACKNOWLEDGEMENT This report is written in accordance with the Bachelor of Business Administration course prescribed by Veer Narmad South Gujarat University