Business ethics Research Paper Example | Topics and Well Written Essays - 2000 words

Business ethics - Research Paper Example Marketing mixes have several areas and are critical in setting up the strategies that are ideal to manage the dynamic environmental effects of the target market. In almost all circumstances, market mixes are inter-connected, interdependent, and they also bring together numerous factors. Marketing mix is often explained under the 4ps (Product, Price, Place, and Promotion) which put together, the 4ps produce a set of manageable strategic marketing gears that an organization puts together to attain the desired response in the objective market (Kotler, 2003). Product; a product is anything that can be presented to a market to meet the needs and wants of a certain market. Products generally refer to physical goods, services, persons, places, firms or even ideas. In a deeper sense, a product is not a necessarily a physical item but an awareness of the buyer or the person who uses it. Product therefore denotes the contentment of the client rather than a physical good. Goods are elements of consumer satisfaction; marketing mix is the method or tool that constitutes this customer satisfaction (Doyle, 2000). Place; place denotes the circulation avenues that an organization uses to communicate its own physical products or services to the final user of that product. The distribution of an organization products refers to the ‘When’ ‘Where’ and ‘How’ a service or availed to the user. For organizations that provide services, the ‘When’ denotes the time frame in which the service is offered. ‘Where’ denotes the location of the particular services while ‘How’ depicts the nature of supply (Doyle, 2000). Price; price is a flexible and principal element, which establishes the returns/profitability/market share for the company. From the perspective of a client, price is a determinant factor since most consumers’ first look at the price