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Essay / Research Paper Abstract
This 19 page paper look at the importance of the different variables in the marketing mix; product, price, placement and promotion. Included within this are aspects such as branding, price elasticity, segmentation and how the purchase decision is made. The paper uses the well know toy store, Hamleys, as an example of a company that successfully uses all elements of the marketing mix. Other examples are also cited. The bibliography cites 14 sources.
Page Count:
19 pages (~225 words per page)
File: TS14_TEmarmix.rtf
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Unformatted sample text from the term paper:
which was called Noahs Ark. The business was a success, by 1881 the store had to move from Holborn as it had become too big and moved to Regent Street
(Hamleys, 2004). By this time the store was being by Williams grandsons. By 1921 the store had expanded to six floors, but the depression took its toll and after nearly
going into liquidation the store was saved by Walter Lines, a man who, as a boy, had enjoyed riding in the Hamleys delivery vans (Hamleys, 2004). The rebuilding of the
store saw the reputation restored and the awarding of the first royal warrant, the second was received in 1955 (Hamleys, 2004). The store has survived many difficulties, including the London
Blitz, and today, due to very successful marketing occupies seven floors in premises if started to occupy in 1981 and is a major tourist attraction as well as a retail
success (Hamleys, 2004). The success is largely due to the way marketing takes place and the importance of the different elements of marketing. For any company or product to
be successful there needs to be effective marketing. For different products or services emphasis may need to be placed on different variables may be of variant importance. It is only
by understanding the variables and how they impact on the marketing mix that we can start to determine how the marketing elements can and should be used. Hamleys is
a good example of how to successfully manage the marketing mix. 2. The Marketing Mix There are many elements to the marketing mix. One useful model is that of
McCarthys 4 Ps which stand for product, price, placement and promotion (Kotler, 2003). All of these need to be correct in order for a product to succeed. There are many
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