Exercise 1.

The marketing mix refers to set of actions, or tactics, that a company uses to
promote its brand or product in the market. The four Ps make up a typical
marketing mix – Price, Product, Promotion and Place.
All the elements of the marketing mix influence each other. They make up
the marketing plan for a company and handled right, can give it great success.
But handled (= gestire) wrong and the business could take years to recover.
Marketing mix needs a lot of understanding, market research and
consultation with several people, from users to trade to manufacturing and several
others.

Exercise 2.

The marketing mix is often defined as being the ‘four Ps’. But seen from the
customer’s point of view, these should perhaps be the ‘four Cs’.
So (1) product becomes customer solution, (2) price becomes cost, (3)
promotion becomes communication, and (4) place (distribution) becomes (5)
convenience. This basic (6) mix can be expanded to include sub-mixes.
For example, the promotion variable can be further broken down into
advertising, sales promotion, personal selling, publicity, direct (7) marketing and
e-marketing. The elements of the mix have to blend together, and this is called (8)
coherency. Further, the mix has to be adapted to a changing business (9)
environment, to changes in the organization’s resources and to changes in the
product life (10) cycle.

Exercise 3.
The Marketing Mix

The Marketing Mix has been the golden rule used by marketing managers
everywhere to engage customer attention and (1) B convert this interest to sales.
The four Ps of Product, Price, Place and Promotion date back nearly 50 years. But
this approach to marketing does have its critics, who argue that the true success of
sales is completely down to the customer, and what he or she wants is an important
decision factor. The Product, for example, is not just the (2) B tangible product or
service itself, but a whole host of associated warranties that one attaches to it.
These are society based and driven. Price is usually associated with cost (3) D
competitiveness, and therefore ‘how low can you go’ is the dilemma. But cheapest
is not necessarily best, as the price should reflect the value for benefits it offers.
Something that increases social status or sexual magnetism can be considered by
some worth more than the literal financial value placed on it.
 The concept of Place in the Marketing Mix, often referred to as the
distribution (4) B channel, usually represents the locations where the product can
be purchased, physical or virtual. However, place should refer also to timing,
ensuring that the product is there in the right place, supplying customers’ needs to
their own personal schedule. With e-business this includes visibility in search (5)
D engines visibility in consumer keywords and knowledge of the search behaviour
of your
(6) C target market. Promotion is essential and is typically associated with
advertising, but also includes PR, word of mouth and (7) C point of sale. Others
have suggested that within the knowledge of the benefits of the product and brand
awareness comes customer (8) B loyalty, which is invaluable as part of the
business base.
A further concept which some people argue is missing is P for People. The
people who represent a product become that product. While average to good (9) B
customer service is little remarked upon, what image is left when you have to deal
with very poor service? Many people will say nothing if their sales experience was
positive – this is what they expect – but how many people will you tell if you have
a negative encounter? Customer staff, in both appearance and attitude, have the
power to create an image of your company. How important is that? Priceless.

Exercise 4.

The quote "Good marketing makes the company look smart. Great
marketing makes the customer feel smart" highlights the profound impact of
effective marketing strategies on both the company and the customer.
Effective marketing goes beyond merely showcasing a
company's intelligence; it's about creating a profound impact that makes customers
feel smart. In this dynamic, marketing plays a pivotal role, encompassing the
strategic creation, promotion, and delivery of products or services to address
specific customer needs. Distinguishing between good and great marketing, the
quote emphasizes the significance of making the customer feel smart. This
involves a deep understanding of the target audience, employing market
segmentation techniques to identify distinct groups with unique preferences.
Whether through digital marketing or traditional marketing, the aim is to reach
and resonate with the intended market segment.
To achieve effectiveness, marketing isn't just
about flooding the market with products; it requires a strategic marketing mix.
This mix involves careful consideration of product development, pricing,
promotion, and distribution. Thorough market research is essential, helping the
company understand product demand and bring offerings to the market that capture
substantial market share. The concept of a niche market is critical, focusing
on targeting specific, well-defined market segments. An incoherent mix can lead
to poor dynamics, underscoring the importance of aligning various elements like
advertising, packaging, and distribution for sensible mix dynamics in line with the
company's goals.
The quote acknowledges the potency of a word-of-mouth strategy in
effective marketing. When customers feel smart about their choices, they become
active, actively promoting and selling products or services through personal
recommendations.