Pick a name of company of your choice and give response for each of the 4 P’s that could be used in a marketing plan for company.
Amazon Company has been using the 4ps for marketing mix in the past and the response to the performance of the company is as follows;
Amazon’s Products mix
The use of product mix has continued to expand and diversify the company products. The company has been able to meet online retail demands and address the market needs. Product mix has broaden the firm in to the distribution of digital content, including music and e-books.
Place/Distribution in Amazon’s Marketing Mix
Amazon uses its official e-commerce websites as its primary places for transacting with customers. The company operates a physical bookstore named Amazon Books in Seattle. This location enables the company to reach out to customers who want to physically evaluate products before purchase.
Amazon’s Promotion mix
Amazon uses promotion mix to improve performance of the company. Advertising functions as the primary means for Amazon to communicate with its target market. This strategy widens the company’s market reach
Amazon’s Prices and Pricing Strategies
Amazon uses market-oriented pricing as its primary pricing strategy. The advantage of using pricing strategy is that it makes selling prices more competitive, affordable and attractive to target consumers. On the other hand, the price discrimination strategy involves setting different prices for the same product. Amazon applies this pricing strategy through its different websites.