Elements of Success

In: Business and Management

Submitted By kaleotorres
Words 1514
Pages 7
Elements of Success
Sal Torres
MKT241
October 2, 2013
Gabby Schweitzer

Elements of Success For marketers, the four P’s or the “elements of a marketing mix” is known as studying the right product, putting that product in the right place, at the right price, in the right manner. In simplest terms, the four P’s is as followed: product, place, price, and promotion. Implementing all four P’s can mean success for an organization. To the Hawaii Department of Education, executing each element precisely without mendaciousness is the difference between mediocrity and exceeding expectations. Even though Hawaii’s public school system graduate majority of their students, something needs to happen with the fraudulent spending going on to promote the very best education for Hawaii’s youth. To understand that idea, take a deeper look at each P and its importance it plays in marketing, the unethical structure, and the unsupervised supervised spending. Product Tangible goods like Boxing gloves, airplane, and a white t-shirt or services such as medical care, babysitting, or education is the product element a company markets. Take the school system for example. The school system has many product elements: the education itself; a simple set of tools one will need to be successful in their adult years and others like team sports, college prep courses, programs for at-risk youth, arts, etc., all supporting the source of the marketing mix. Not only do people use this product for its benefits, but they also buy into the product for what it means to them. Smith (2013), A product that someone needs and wants to buy is at the heart of the marketing mix (What Is Service Marketing Mix?). Place Location where products are available, where it is sold or purchased is the place element for marketing. Depending on preferences, education can be offered at a…...

Similar Documents

Elements of Leadership

...Mercado Karla Reeves Outcomes Elements of Leadership From the case, we analyzed Kevin Rollins Leadership style and gathered that he has five distinct elements. First, he is a formal leader, as CEO he is given the authority to allocate the company’s resources the way he feels will make the company more productive and profitable. He was given this power when he succeeded Michael Dell as CEO, before then he was second in command and did not have as much influence over the company’s resources. Another element to his leadership is his need for continuous improvement. After the huge decline in revenue Dell decided to sell its products in Wal-Mart stores in order to reach lower income consumers as well as continuing to sell directly from their website, however, Rollins saw that in the long run this could actually cause the company to lose money because Dell only provided their products in certain retail stores. This demonstrates how he jumped right in to tackle the company’s biggest problem: not meeting their projected revenue, and how he can come up with ways to improve their current situation. The third element to Rollins’ leadership style is initiating structure; he is always analyzing the day to day operations of all Dell employees and trying to create new ways and processes for them to run as smoothly and efficiently as possible. The case also hints at a fourth element that Kevin Rollins finds useful, he uses 360 reviews to......

Words: 1190 - Pages: 5

How Four of the Marketing Mix Elements Combine to Make It a Success.

...consumers and satisfy company goals. The marketing mix can be considered the offering of the company to the consumer. This offer is controlled by the following elements often referred to as the four P’s: • Product • Price • Place • Promotion By using alternative mixes of these four elements you have the capacity to reach multiple customers within your target audience. Biodesign is an advanced tissue repair graft for use in soft tissue repairs by surgeons. It is a product which is owned by Cook Medical, a medical device company. Biodesign was a revolutionary technology that was first to market ten years ago and since then several competitors have come to the market. Since then Biodesign’s positioned has changed to meet the needs of today’s market. Creating a successful marketing mix that will lead to increased market share, often takes market research and experimenting. Biodesign is no different, extensive market research was conducted and several mixes were tested before the final combination was agreed upon. In the case of Biodesign, the product caters to a niche market, and the marketing mix matches that: the price is within market budget, they are distributing the product where it will be seen, and the promotion is geared to solve the problems that the audience is encountering. ***One of the main keys to the success of any marketing plan is the ability to work effectively in shaping marketing mixes that meet the needs of your specified target market. So......

Words: 985 - Pages: 4

Elements of a Civ

...All civilizations have key aspects and valuable skills that they use to have a successful running society. Language, cities, skilled workers, complex structures, and advanced technology are what make a civilization flourishing and prosperous. Deprived of these foundations, the success of these civilizations won’t be as substantial. All successful developments are consisted of these elements because they have created a stable society and a very structured government consisting of a strong foundation and prosperous humanity. Our society today has been evolved from previous cultures that have used these exact key aspects for their survival and for their flourishing humanity. The ancient civilizations of the Sumerians were a thriving civilization that had elements to help their society proceed. Language was stated to be a major element needed towards a civilization that helped create a stable environment for their people. Sumerians communicated through cuneiform which was known to be a wedge shaped writing of theirs. It helped their society to stabilize and progress into our languages today. Also it helped their community advance and exists on. Cities also contributed into the making of a controlled social hierarchy by making communities closer and stabilized governments stronger. Cities had huge developments of advanced technology such as canals with helped out with irrigation and mud bricks which were used for arches and dorms. It assisted the city to work well and advance......

Words: 714 - Pages: 3

Elements of Success

...Elements of Success Jonny Be Good MKT241 October 2, 2013 Dr. Watson Elements of Success For marketers, the four P’s or the “elements of a marketing mix” is known as studying the right product, putting that product in the right place, at the right price, in the right manner. In simplest terms, the four P’s is as followed: product, place, price, and promotion. Implementing all four P’s can mean success for an organization. To the Hawaii Department of Education, executing each element precisely without mendaciousness is the difference between mediocrity and exceeding expectations. Even though Hawaii’s public school system graduate majority of their students, something needs to happen with the fraudulent spending going on to promote the very best education for Hawaii’s youth. To understand that idea, take a deeper look at each P and its importance it plays in marketing, the unethical structure, and the unsupervised supervised spending. Product Tangible goods like Boxing gloves, airplane, and a white t-shirt or services such as medical care, babysitting, or education is the product element a company markets. Take the school system for example. The school system has many product elements: the education itself; a simple set of tools one will need to be successful in their adult years and others like team sports, college prep courses, programs for at-risk youth, arts, etc., all supporting the source of the marketing mix. Not only do people use this product...

Words: 1515 - Pages: 7

Elements of a Contract

...Elements of a Contract Sandee Jones Ashford University Business Law BUS670 Mr. Michael Huang December 16, 2013 Elements of a Contract Our entire economy is based on the freedom of individuals and businesses alike to form contracts, and a legal system of laws that enforces each to freely enter into. Most folk are used to seeing a contract in written form, and so most assume it must be lengthy, and in writing to be enforceable. This is not 100 percent true. However, there are five elements of a contract that must exist for the agreement to be enforceable (Seaquist, 2012). Contracts have no particular form. There are no particular words or phrases that must be used by either party. But someone needs to make an offer, which is element number one of a contract. The three characteristics of an offer are: 1. The language of the offer is definite and certain. This means that words that mean you are serious and “for sure.” 2. The transaction looks like a contract and it passes the “objective test,” and 3. The offer has been communicated to the offeree. The second element is “Acceptance.” Acceptance can happen after a valid offer, but it is the only one that leads to the “contract formation.” This means that one party has made an offer and another person has accepted the offer. For example, if an offeror says, “I will sell you a car for $5,000” and the offeree says, “I’d love another dependable car for $5,000.” The two have agreed to the terms of the offer......

Words: 903 - Pages: 4

Elements of Design

...ELEMENTS OF DESIGN Design is a helpful tool that can bring order to chaos and randomness. Order in design is considered good because one can easily understand an ordered message. However, people’s perception of a good design changes over time – fashion and style in design consistently changes. Style in design is society’s needs, preferences and expectations of design. Whereas fashion (considered a superficial condition) is a current trend in design. Over time, this trend will evolve into another trend, and will most likely repeat itself. A landmark project was completed by the Xerox publishing standards. In this landmark, they share their goals and tips for accomplishing good design. They firstly state that typography should be consistent, white space and graphics should be effectively used and lines and shapes should be controlled well. The overall look of the designed page should be inviting. The design should be visually stimulating so that the viewer can be made curious and thus get involved with the design and its process. By raising curiosity in a viewer, one can more easily absorb the information. Eliminating unnecessary information and elements is also imperative. A clear design can encourage one to read the information because the information appears to be less. Consistency also determines whether or not a design is appealing. For example, a magazine with many styles (with no specific theme coming through) and overfullness will simply overwhelm the viewer and...

Words: 470 - Pages: 2

Elements

...>Canlı-cansız bütün varlıkların, sadece 109 adet elementin çeşitli biçimlerde birleşmeleriyle oluştuğunu biliyor muydunuz?   >Tüm elementler birbirinin benzeri atomlardan; atomlar da birbirinin aynı olan parçacıklardan oluşur; Burada akla şöyle bir soru gelmektedir: Elementleri meydana getiren bütün atomlar aynı parçacıklardan oluşuyorsa, o halde elementleri farklı kılan, var olan sonsuz çeşitlilikte maddeyi oluşturan nedir?    >Elementleri temelde birbirlerinden farklı kılan, atomlarının çekirdeklerindeki proton sayılarıdır. En hafif element olan hidrojen atomunda bir proton, ikinci en hafif element olan helyum atomunda iki proton, altın atomunda 79 proton, oksijen atomunda 8 proton, demir atomunda 26 proton vardır. İşte altını demirden, demiri oksijenden ayıran özellik, yalnızca atomlarının proton sayılarındaki bu farklılıktır.    >Soluduğumuz hava, vücudumuz, herhangi bir bitki veya bir hayvan ya da uzaydaki bir gezegen, canlı-cansız, acı-tatlı, katı-sıvı herşey... Bunların hepsi, sonuçta aynı yapıdaki ancak farklı sayıdaki proton-nötron-elektronlardan meydana gelmiştir. Evrenin her parçasında kusursuz bir uyum ve denge vardır. Maddenin hangi özelliğini incelersek inceleyelim, maddeyi yoktan yaratmış olan Allahın sonsuz bilgi, akıl ve kudretini görürüz. Herşey Onun iradesine boyun eğmiştir ve dolayısıyla herşey kusursuz bir uyum içindedir.    >Arabalar, bilgisayarlar, televizyonlar, evlerimizdeki fırınlar, kullandığımız telefonlar...  Bu ürünlerin......

Words: 873 - Pages: 4

Elements

...chemical elements are hydrogen and helium, both created by Big Bang nucleosynthesis during the first 20 minutes of the universe[6] in a ratio of around 3:1 by mass (or 12:1 by number of atoms).[7][8] Almost all other elements found in nature were made by various natural methods of nucleosynthesis.[9] On Earth, small amounts of new atoms are naturally produced in nucleogenic reactions, or in cosmogenic processes, such as cosmic ray spallation. New atoms are also naturally produced on Earth as radiogenic daughter isotopes of ongoing radioactive decay processes such as alpha decay, beta decay, spontaneous fission, cluster decay, and other rarer modes of decay. Of the 98 naturally occurring elements, those with atomic numbers 1 through 40 are all considered stable. At least one isotope of each element with atomic numbers 41 through 82 is apparently stable (except technetium, element 43 and promethium, element 61, which have no stable isotopes) but theoretically unstable (in that their fission would release energy) and thus possibly mildly radioactive.[10][11][not in citation given] The half-lives of elements 41 through 82 are so long, however, that their radioactive decay remains undetected by experiment. These "theoretical radionuclides" have half-lives at least 100 million times longer than the estimated age of the universe.[citation needed] Elements with atomic numbers 83 through 98 are unstable to the point that their radioactive decay can be detected. Some of these......

Words: 1803 - Pages: 8

Customer Need: a Key Element for the Success of Company

...Customer Need: A Key Element for the Success of Company As Doyle (1994, p.39) mentioned, consumers can choose the product they want that makes the competitors try to attract more consumers from each other. It suggests that customers play an important role in marketing. If a company wants to win the competition, it might need to put consumers at the first place, meet the needs of consumer more effectively (Doyle, 1994, p.39). The famous article ‘Marketing Myopia’ written by Levitt (2004) suggests that the production of a company should based on consumer needs is what marketing tries to do. Disregard of consumer needs may makes the company face some challenges and hard to win in the market. However, emphasizing too much on current needs of consumers would not necessarily be a good thing. This essay discusses the challenges an organization may faced both not focus on consumer needs and focus too much on consumer current needs. First of all, it is probably not easy for a company to access the market especially the foreign market if its products can not meet consumer needs. As one of the Fortune Global 500, the fourth-largest retailer in the US, Home Depot failed in Chinese market that closed all its 12 stores in 2009, because Chinese regard buying a house as a way to store wealth, there is no need for them to decorate the house (Gao, 2003). Best Buy Co. closed its 9 outlets in China in 2011, because they found that what Chinese consumers need is washing machines rather than...

Words: 1336 - Pages: 6

Elements

...leaf. Then the elements changed and were thought to be fire, air, earth, and water. People investigated different substances by using heat, acid, and electricity to see if there was any change. Some substances would create others when they were separated and then tested on again that left some to stop changing which are called unchangeable substances elements. The new names of some of the elements are iron, copper, carbon, oxygen, sulfur and gold. Elements are substances that cannot be change into smaller substances that creates matter combing all the different substances in the world. By the 1850’s 60 elements had been discovered with their chemical and physical properties. The First Periodic Table Dmitry Ivanovich Mendeleyev, a Russian chemist, in 1869 created a set of elements from lightest to heaviest, from hydrogen to uranium. Then he noticed similarities between the chemical properties of some of the elements and made groups that made columns. The he discovered that there is a missing element and discovered 30 elements. The Modern Periodic Table of Elements There is still a similarity to the way Mendeleyev’s ides for the periodic table. The rows are different however, having 2 elements in row 1, 8 in rows 2 and 3, 18 elements in rows 4 and 5, and 32 elements in rows 6 and 7.The colors, orange, light blue, dark blue, light lavender, dark lavender, and yellow green are used to identify different types of metals. Colors, green, red, yellow and aqua elements are......

Words: 1093 - Pages: 5

Elements of a Contract

...Elements of a Contract BUS 670 August 25, 2015 Elements of a Contract Introduction A contract is a legal agreement between two entities that creates obligations by both parties that are enforceable by law. As Verkerke (2015) notes, individuals are often ill-informed of the legality of most common dealings in their lives. With a common ignorance of legal matters, it is essential that contracts contain the required elements to be legally binding and protect both parties involved. Additionally, it is pertinent to understand the difference between contracts governed by common law and those governed by the Uniformed Commercial Code (UCC). Finally, prior to signing a non-compete agreement or asking someone to, it is important to understand the circumstances that make it enforceable as well as the diversity of enforcement standards as they vary from state to state. Five Elements Required for Enforcement Every contract contains promises that are enforceable, however only certain conditions are enforceable by a court if they meet the following five elements: an offer, an acceptance, consideration, capacity, and legality (Seaquist, 2012). The first element, the offer, occurs between two parties, the offeror (the one who makes the offer) and the offeree (the one who has the option to accept the offer) which grants the offeree the power of acceptance (Seaquist, 2012). Although some preliminary negotiations may take place before the final acceptance of the offer, they......

Words: 1529 - Pages: 7

Elements of Marketing

...1. The Concept and Process of Marketing Marketing is the science and art of incorporating intuition, creativity and innovation in designing new products and identifying channels for their distribution. It encompasses a fair mix of both behavioural and management science. Having a strong foundation in the field of marketing helps an individual translate his thoughts and ideas into appropriate actions, effortlessly. Elements of the Marketing Process The primary aim of every marketing process is to earn profits for the organization. Market research is the primary source of information used by marketers to design a marketing strategy. The results of market research help the marketers make choices about their target market segments, the products they wish to sell and the relationship they would like to build with their consumer. Although different experts have varied opinions about the elements of the marketing process, we will use the illustration below for our reference and understanding. Elements of the Marketing Process Figure 1 Source: Made by Student (2012) 1) Needs vs Wants: Food, water, shelter and clothing are basic needs of any human being, necessary for survival. On the other hand, wants are created to fulfil needs. For instance, ‘I need food but I want a burger’. In this example, ‘food’ is a basic need, whereas ‘burger’ is a means to satisfy the need. The want for a burger is dependent on several factors. The socio-cultural environment around an......

Words: 1057 - Pages: 5

Elements of Marketing

...Elements of a Marketing Plan Report Carolyn Gaston MKT/421 April 11, 2016 Kenyetta Rivera Elements of a Marketing Plan Report Introduction Marketing strategies must be able to keep up with the ever changing times of society, technology, and media. Companies use marketing as a business technique to maintain customer satisfaction, recruit new customers and make a profit from their customers while staying successful. To do this they must have a product that meets the needs of their customers. Customers become loyal clients who will speak well of your product to fellow consumers when they are getting a product that meets their needs. Environmentally, the use of Netflix’s DVD mail service shipping takes less time and energy then actually driving to a video store. Reed Hastings, the founder of Netflix, realized there was a need in the movie rental industry. He came to the realization that sending DVD’s through the mail, was something that customers would prefer to do rather than wait in line. Netflix started out purely as a DVD by mail service but began video streaming in 2007. Prior to Netflix, if a customer wanted to watch a movie at home they had to wait in line to buy it from either Blockbuster, Hollywood Video or local area movie stores. Occasionally, these stores would run out of movies and there was not a large selection of movies for customers to choose from. This would mean that in order to get the movie that you wanted you had to put your name on the waiting......

Words: 1364 - Pages: 6

The Elements

...The elements of an unlawful homicide is called the corpus delicti which is the basic facts collected establishing that a crime has been committed and someone is responsible for that crime. In order for the judge to hand the case over or for the prosecutor to obtain an indictment each element the investigator must provide evidence for each element of the corpus delicti. There are two elements for unlawful homicide which are; ruling out suicide, natural causes, and accident, by establishing it was a homicide and there is a person responsible for the homicide. This must be obtained and in the knowledge of the investigator, evidence technician, and criminalists. Robbery is the taking of property from a person by using force or the fear of force. When investigating robbery the ethical consideration that needs to be addressed is the investigator having knowledge of theft and related offenses and must be accustomed with the descriptions of how the jurisdiction in which the investigator handles things . Some general information that the investigator must have knowledge of is The Model Penal Code. The definition for The Model Penal Code is a person is guilty of robbery if they inflict serious bodily harm on another person, threatens or intentionally puts victim in fear of serious bodily injury, or commits or threatens to commit any felony of the first or second degree. Burglary is defined as “trespassing breaking and entering of the dwelling of another at night......

Words: 315 - Pages: 2

Success

...■ The Elements of Successful Marketing Marketing Research Within the definition of marketing is the discussion of a process of planning and executing to meet consumer needs. Marketing requires an understanding of consumer wants and needs. This understanding is derived through an assessment of these needs. Within this book, Chapter 5 focuses on marketing research. Marketing research is a process in which there is a systematic gathering of data from customers to identify their needs. The Four Ps The heart of marketing strategy is the development of a response to the marketplace. As noted in the definition, marketing is the “execution of the conception, pricing, promotion, and distribution of the goods, ideas, and services.” To respond to customers, an organization must develop a product, determine the price customers are willing to pay, identify what place is most convenient for customers to purchase the product or access the service, and finally, promote the product to customers to let them know it is available. Product, price, place, and promotion are referred to as the four Ps of marketing strategy.3 It is these four controllable variables that a firm uses to define its marketing strategy. The mix of these four controllable variables that a business uses to pursue a desired level of sales is referred to as the marketing mix. The definitions of the four major elements of marketing as discussed below provide the focus of this book. Product Product......

Words: 1110 - Pages: 5