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the  four  Ps definition of   the marketing mix-product,  place,
promotion and price.  Buyers  in  the  target  segment  have a set  of  wants and by re-search and
successful adaption marketers will develop an offer to match them. However, 4 Ps’ is criticized
by some philosophers that the concept is over simplified and outdated. Some urge that the most
important  P-  people  is missing  from 4 P.  However,  when we  refer   to people,  we hardly can
interpret whether it refers to customers or staff.  Besides, some peoples are talking about “7 Ps”
which includes physical evidence (such as facilities) and processes (the customer experiences).
These marketing mix elements are relatively important for the success of the marketing strategy
and it may also different from industry to industry as well as from organization to organization.
Baker (2000) points out that marketing mix are varying widely. In the dynamic world, companies
should adjust   the marketing mix corresponding  to  the  rapid market  changes as  to sustain  for
long-term perspective.
Figure 1: Marketing Mix (Four Ps)
Source: Baker (1994), pg 411
The Marketing Mix- Available Marketing Tools to Target Customers
Source: Lancaster and Reynolds (2005), pg40
Product
The  product   is   the  physical  product  or   service  offered  to  the   consumer.  Product   can be  or
program includes both tangible (Underwear) and intangible (Brand) elements. Prior to launching
the underwear,  it’s important to study on how to create a value for our product. As we know,
underwear product may be less attractive to attract to the specific target market while this is easy
to be purchased at any store.
Hence,   in order   to win  the competitive edge,  we should emphasize more on  the brand name
marketing and quality. Due to that, styling is also part of the product strategy that enhances the
market position of underwear.
Functions
Value
Self-image
Services
Availabilit
y
Avoid  risks
Target
segment
Differential
advantage
Functions
Value
Self-image
Services
Availabilit
y
Avoid  risks
Marketing  Mix
Variable’s
Customer wants
Price
Level
Discrimination
Discount
Product
Design
Packaging
Display
Brand
Promotion
Advertising
Sales Promotion
Personal Selling
Place
Warehousing
Transportation
Service
Stockholding
Price
The “Price” is the most noticeable impact. Price is the main factor, which comes into consumer
mind when they are considering buying the 本论文由英语论文网www.51lunwen.org整理提供underwear. Most of the customers are not willing to
pay additional fees for underwear. Due to that, we will try to promote our underwear based on
economy and penetration strategy.  With penetration pricing strategy,   the  price charged for the
underwear are relatively low in order to gain brand awareness and market share. However, once
the objectives  are achieved,   the prices  will  be  increased accordingly.  This   strategy do本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。