The purpose of this paper is to describe the elements of the marketing mix which is product, place, price and promotion. In addition, selecting the organization whom I work for which is DirecTv and describe how each one of the four elements of the marketing mix impacts the development of DirecTv’s marketing strategy and tactics. This paper will also be describing how each element is implemented. The concept or term of “marketing mix” became popular after Neil H. Borden published his article in 1964, The Concept of the Market Mix.
He later began teaching this term in the late 1940’s. The ingredients in Borden’s marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. Not long after E. Jerome McCarthy grouped these ingredients into four categories that today are known as the four P’s of Marketing. These marketing decisions generally fall into the following four categories. The first P is product and this term refers to tangible, physical product as well as services.
Some examples of the product decisions to be made are brand name, functionality, styling, quality, packaging, and so forth. The second P is Price which includes pricing strategy, suggested retail price, volume discounts wholesale pricing, cash and early payment discounts, seasonal pricing, and so forth. The third P is Place or distribution which is about getting the products to the customer. Some examples include distribution channels, market coverage, specific channel members, inventory management, warehousing, distribution centers, order processing, and so forth.
The Business plan on Marketing Communication Mix
Assignment 1 – Theme ParksContents1.0Introduction32.0An Overview of the Market32.1The main players in the market32.2Recent Trends42.3Environmental Influence62.4Expenditure on marketing communications and share of voice (SOV)72.5Customers and how do they buy – Consumers and their Expenditure93.0A Comparison between two brands within the theme park market113.1Objectives113.1.1Disneyland's ...
The fourth P is Promotion which represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Some examples are promotional strategy, advertising, sales promotions, public relations & publicity, marketing communication budget and so forth (NetMBA, 2008).
TiVo is a brand of digital video recorder that offers numerous functions far advanced than the regular VCR or DVD player. The TiVo recorder has the ability to pause and replay live TV as well as an array of flexible ecording services that is personalized for the consumers. The adoption of TiVo when it was first released was facilitated by the belief that consumers who owned a TiVo black box and subscribed to the TiVo service can take control of what programs to watch and when to watch them. The device attracted consumers who were tired of missing their favorite shows because they were too busy to watch them. TiVo also enabled people to fast-forward over irreverent advertising. TV watchers can “pause” a live show to conveniently handle interruptions too.
As shown above, the services that TiVo provides allow the consumer to be in control and makes TV viewing “a lot more enjoyable. ” (Global Advertising Strategies, 2008) Television satellite provider DirecTV and TiVo have extended their current non-exclusive partnership to include the development of a new, high definition DirecTV digital video recorder (DVR).
The two companies also extended their mutual intellectual property agreements. Financial terms were not disclosed. The deal is expected to bring TiVo’s broadband and search capabilities to a wider audience.
The Business plan on Intro To Business Businesses Product Consumers
Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to ...
DirectTV currently has more than 17 million subscribers, while, as of July, TiVo had 3. 8 million. In 2005, DirecTV said it would stop marketing TiVo and instead offer a DVR made by NDS, a division of News Corp. With the launch of High Definition, HD receivers along with the DVR features DirecTv are booming with orders for high definition. The packaging of these receivers for DirecTv started in black and the products were made from different companies like RCA, Phillips, Sony, Hughes and so forth. Since the taking of name of DirecTv, the product has since changed now the LEDs illuminate in blue a flashy pizzazz to the product.
The casing went from a flat black to silver and back to a glossy black which gives it a bling-bling look you can’t resist. Striving for continuing growth in the US, DIRECTV has been targeting various ethnic communities in the US by expanding its programming lineup over the years. After the success of the initial offering of several Spanish-language channels, the company developed and implemented its WorldDirectc program to provide high-quality, in-language programming to various ethnicities in the United States. By the end of 2005, the company was able to offer its viewers Spanish, South Asian,