Sample Essay
The price element in the marketing mix for a company provides the pricing strategy employed to value the product and services and earn profits on the sale of the products and services to the consumers. If the company is based on premium value addition and prestige, then the pricing mix reflects a premium price based pricing strategy targeting the affluent market. On the other hand if the company has the organizational objective of making their services available to the masses in an affordable manner, then the price strategy in the marketing mix reflects this by depicting lower prices or bargain rates.
The placement element of the marketing provides how the company delivers the products and services to the end users highlighting the channels of distribution employed. Where the organizational strategy of the company is to use innovative technologies, the placement element of the marketing mix can reflect this organizational objective by employing traditional as well as alternative distribution channels like those based o the internet.
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