What Is the Marketing Mix?

"What is the Marketing Mix?"

The Marketing Mix is associated with those items of a company's marketing strategy that exist to address the customer's needs. It consists of four parts - product, price, place and promotion. These four elements should be perfectly balanced. In the following, by means of the Coca-Cola Company as an excellent example of a business with a successful strategy, the four parts of the Marketing Mix will be illustrated.

The first part is the product. It is necessary to draw the attention to the features of the product. In the case of the Coca-Cola Company, the function of their products is to offer the customer a large spectrum of various drinks which respond to the consumer's special demands, and ,needless to say, to satisfy the basic wants of the clients. One of the guidelines of the Coca-Cola Company is the Coca-Cola brand as the central product of the company. Their aim is to make good quality available everywhere and continuously. Another important factor is the appearance of the product - its design. For Coca-Cola it is of prime importance to have a stimulating color to heighten the appearance, which needs to give the customer a positive impression of the product and which strengthens the recognition value. From the very first, the design of Coca-Cola was stylish, striking, appealing and unmistakable. The red and white corporate logo is a milestone in the history of product design and also the typical bottle became legendary, and both were definitely part of the immense success of the enterprise.

Furthermore, you need to be aware of the price as an important factor. It is important to recognize that Coca-Cola is not one of the cheapest products in beverage industry, but that is not even their goal. The company wants to present good quality all over the world, and they believe in their customers and think they will bear the costs if they get good quality products in return.

Moreover, promotion is an important part of the Marketing Mix. The advertising strategy of Coca-Cola also became widely known. The secret of the company's success is its consistent brand communication. People are able to identify with the brand because it expresses the spirit of the age with pictures, and it communicates to the customer a positive attitude towards life. The brand took place in countless films, the slogans of the Coca-Cola Company are well known and the firm manages to adapt their advertising strategy to seasonal changes. As a consumer it is hard to avoid the brand, which was one of the aims of the Coca-Cola enterprise, and they succeeded.

Last but not least, the place of distribution is important. This part contains decisions about the way in which the products of a company are physically distributed. Decisions about the way those products are sold must also be managed. The Coca-Cola Company operates a franchise distribution system