The Marketing Mix Of Borden - 1483 Words

The marketing mix was claimed to be introduced by Borden (1965) by himself and was suggested to him by Culliton (1948) as he described the action of a business decision-making as â€Å"mixer of ingredient†. The marketing mix is known to be a business tool to most, which needs to be taken under consideration in order for the business to be successful. The marketing mix was first originated from the single P, which was â€Å"Price† from the microeconomics theory (Chong 2003). Due to competiveness, new P’s were later introduced. These are the following (4P’s) 1. Price 2. Product 3. Promotion 4. Place Marketing mix is a theoretical outline that classifies the main decision managers make in shaping their offerings to suit consumers’ needs. The 4P’s just make the marketing process easier as it simplifies the steps you have to go through in order for a successful outcome in selling a product or service. The marketing mix was also developed over the years as many theories came in to play by different people in order to break down what the marketing mix is or even better the concept of what started off being a basic theory, which helped marketing. An example of this would be Rasmussen (1955). He developed what is now known as the â€Å"Parameter Theory†. He suggested that there are four elements of competition and sales, which are the following 1. Price 2. Quality 3. Service 4. Advertising Marketing mix came a long way from just a term, which Borden (1965) claimed to use first and had manyShow MoreRelatedMarketing Mix, By Neil H. Borden1629 Words   |  7 PagesThe Marketing Mix The marketing mix, also referred to as the four Ps, represents a list of categorized, dynamic parameters of a product that define its value. Marketing decisions are based on these four categories: product, price, place, promotion. The marketing manager controls these four parameters under the constraint of the marketing environment. Managers to maximize the perceived value of the product, which, in turn, elicits a positive response and optimizes or satisfies profit use marketingRead MoreNeil Borden and The Concept of Marketing Mix Essay example677 Words   |  3 PagesWhen talking about marketing the idea that just comes to mind is a program designed to sell product or simply advertise and no wonder we been bombarded with a lots of different advertising trying to sell something. (Armstrong and Kotler, 2007) But what is marketing? 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Martha and the Trap Ease America investor feel they face a â€Å"once-in-a-life-time opportunity†. What information do they need to evaluate this opportunity? 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Borden Foods is in the process of divesting of snack and non-food products in order to focus efforts and resources in growing their pasta and grain based meal segments. Borden management has also recognized the value and equity in the heritage Cracker Jack brand. The Cracker Jack brand currently (1996) sits in the number two position in terms of Ready-To-Eat (RTE) caramel popcorn product category market shareRead MoreCritical Discourse Analysis of Language Advertisements1553 Words   |  7 PagesKotler 4P’s of marketing Faculty of Business and Management University of Balamand January, 2011 Copyright  © 2011 All Rights Reserved Acknowledgement Thank you Dr. Fadila for your continuous support and the perseverance, tolerance that you have provided us throughout the semester. Table of Contents Acknowledgement ii Table of Contents iii Chapter 1 1 Introduction 1 Chapter 2 4 Body 4 Chapter 3 7 Model Application 7 Chapter 4 9 Conclusion 9 List of References:Read MoreMarketing strategy1487 Words   |  6 PagesFollower Nicher According to Shaw, Eric (2012). Marketing Strategy: From the Origin of the Concept to the Development of a Conceptual Framework. Journal of Historical Research in Marketing., there is a framework for marketing strategies. Market introduction strategies At introduction, the marketing strategist has two principle strategies to choose from: penetration or niche (47). Market growth strategies In the early growth stage, the marketing manager may choose from two additional strategic