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Product identification and background
The marketing mix, needs, wants & demands, customer relationship management and the new digital age are important basic concepts of the marketing. To apply the knowledge about these aspects, I decide to choose Honda Motor Company as the product.
Honda Motor Company, Ltd is a Japanese public multinational corporation which is known as a manufacturer of automobiles and motorcycles. Soichiro Honda and his partner, Takeo Fujisawa are the founders of the company. Honda has been the world's largest motorcycle manufacturer since 1959. Honda surpassed Nissan in 2001 to become the second-largest Japanese automobile manufacturer. As of August 2008, Honda surpassed Chrysler as the fourth largest automobile manufacturer in the United States. Honda is the sixth largest automobile manufacturer in the world. Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura. Honda also manufactures garden equipment, marine engines, personal watercraft and power generators. Honda has been researching about intelligent robot and produced Asimo robot in 2000.
Product identification and background 1
Marketing mix 2
Needs, wants and Demands 3
Customer relationship management (CRM) 4
The new Digital Age 5
Theory of the 4 P’s
Product is the goods and services in combination that the company offers to the target market.
Price is the amount of money customers have to pay to obtain the product.
Place is the activities of the company to make the product available to target customers.
Promotion is the activities that communicate the values of the product and persuade the customers to buy it.
Theory of the marketing mix
Marketing mix is a combination of 4 P’s, product, price, place and promotion to satisfy the target market....