Discuss how the following companies implement the 4P's of Marketing: Product, Price, Place, Promotion.

1) Product - Pepsi Co

2) Price - McDonalds

3) Place - Any Insurance Company

4) Promotion - Starbucks

275 words

Expert Solution

1) Product refers to the offerings to the customer by the company. Currently, Pepsi Co offers diverse products - Soft drinks, Energy drinks, Cereal, Rice snacks, Snacks, Side dishes, Breakfast bars, Sports nutrition, Bottled water and other merchandise. Pepsi had initially started only with soft-drinks. The other products got added to the portfolio with the acquisition of various companies such as Frito Lay

2)Price - This element consists of a pricing strategy of the company. McDonald's target consumer segments are middle and upper-middle classes. It prices its products accordingly. Following are some of the pricing strategy used by McDonald's

Optional pricing - while McDonald's don't want to overprice its primary offering - Burgers, it uses optional pricing for garnering greater revenues. In McDonald's sides or extras are offered at an additional price which increases money spent by customers.

Bundle pricing - McDonald's combines different products and offers it at reduced prices. This increases the overall sales of McDonald's while the customers are gratified that they got more for less

3) Place - It covers where and how the products/services are made available to the customers. Insurance companies use various channels to sell their products

Agency: These are individuals who do direct selling for the insurance company. Agents personally get in touch with the prospects and introduce the products to them and help them purchase it. In return, they get sales commissions.

Stores: Insurance companies set-up brick and mortar stores where a consumer may walk-in to purchase a product.

Online: Nowadays, insurance products can also be purchased from company websites. Generally, products are sold at lesser prices online since it is a low-cost channel

Partnerships: Insurances are also sold at various partnerships such as banks, vehicle dealers etc.

keosha answered 2 years ago

Discuss the following: Product, price, place, and promotion are the underpinnings of all marketing efforts; how...

Discuss the following: Product, price, place, and promotion are the underpinnings of all marketing efforts; how do each of them relate to or effect the following: 1. Consumer behavior; Price; place ; product; promotion 2. Advertising - Price; place ; product; promotion 3. Logistical planning -Price; place ; product; promotion 4. Online marketing- Price; place ; product; promotion

The 4 P's of the Marketing Mix are Product, Promotion, Place, and Price. Choose a company...

The 4 P's of the Marketing Mix are Product, Promotion, Place, and Price. Choose a company that expanded outside of its home country and discuss how it tweaked each of the 4 P’s to adapt to the new economic, political, social, religious, and cultural environment.

Promotional strategies (include your marketing mix: product, price, place, and promotion). For opening a salon suites....

Promotional strategies (include your marketing mix: product, price, place, and promotion). For opening a salon suites. In Miami. 20 rooms available please do all for a thumbs up. Thank you

how can a coffee shop next to starbucks use the marketing 4 p's (place, product, promotion,...

how can a coffee shop next to starbucks use the marketing 4 p's (place, product, promotion, price) to compete with starbucks?

Please make seven marketing mix analysis (Place, Price, promotion, people, process, physical evidence, product) for computer...

Please make seven marketing mix analysis (Place, Price, promotion, people, process, physical evidence, product) for computer industry such as Dell or Apple to create a marketing plan.

Should companies standardize, adapt, or formulate a new marketing mix (promotion, price, product, distribution) when entering...

Should companies standardize, adapt, or formulate a new marketing mix (promotion, price, product, distribution) when entering global markets? Why or why not? Explain/give examples.

Distribution channels in marketing are product, promotion, price and placement. A distribution channel is a chain...

Distribution channels in marketing are product, promotion, price and placement. A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors, and even the internet. A distribution channel represents how an organization will make its product or service available to the end consumer for consumption or use. I chose to take a look at Apple. The first distribution channel that Apple utilizes...

Designing a marketing mix (product, price, placement and promotion) is one of the critical challenges for...

Designing a marketing mix (product, price, placement and promotion) is one of the critical challenges for marketers, especially implementing a balanced combination of each component. This is even more challenging for services products because of their intangible characteristics. So/For this reason, marketers need the “extended marketing mix” components (for example people, process, and physical evidence) for services product marketing. Considering the current crisis created by the Covid 19 virus, write an essay on how service producers in Australia (for example...

This document should address at least 5 elements of the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies (modified below) sections of the marketing plan (from the Situational Analysis and the Product, Place/Distrib

Develop a minimum 700-word branding strategy and marketing communication plan in Microsoft® Word.COMPANY- COCA COLA CARBONATED BEVERAGESThis document should address at least 5 elements of the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies (modified below) sections of the marketing plan (from the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies lists below). The five elements you select should only come from the options provided below. YOU MUST INCLUDE A MEASUREMENT OF CUSTOMER LOYALTY AND RETENTION...

Which is not a component of the marketing mix? Place Price Product People Which of the...

Which is not a component of the marketing mix? Place Price Product People Which of the following equations is correct? closing inventory = beginning inventory - purchases + withdrawals closing inventory = beginning inventory + purchases - withdrawals closing inventory - beginning inventory = purchases withdrawals = closing inventory - beginning inventory + purchases According to the Fundamental Accounting Equation, ________. liabilities = assets + equity assets = liabilities assets = liabilities + equity operating income = revenues - expenses...

Question