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BUS FP3030 McAndrewVanessa Assessment5 Attempt2

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Running head: PRICE AND PLACE IN A MARKETING MATRIX 1
Price and Place in a Marketing Matrix
Vanessa McAndrew
Capella University

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PRICE AND PLACE IN A MARKETING MATRIX 2
Price and Place in a Marketing Matrix
Marketing is a highly evolving field that requires astronomical levels of flexibility in a
company. Rigidity of business in marketing may render it obsolete. This aspect of marketing
necessitated the introduction of various tools to help in marketing. Chief among the tools is the
marketing matrix. A marketing model is defined as a collection of marketing tools used by a
company uses in an attempt to realize its marketing objectives in a target market. A marketing
matrix consists of four large levels of marketing decision known as products, price, place, and
promotion
A market matrix is used by many international companies in order to reach out to their
customer base that is mostly very wide. In this particular case, a brand, Apple is considered.
Apple is a giant techno firm producing phones and tablets among other electrical products. The
phone brand produced by Apple is known as iPhone while its dominant tablet brand is iPad.
Apple is an example of companies that use the two P’s of place and price to market their
products.
Pricing as a marketing matrix
A product should always represent good value for its money. Contrary to popular belief,
this doesn't mean that the product has to be the cheapest one available. This strategy advocate for
pricing according to quality and most importantly, it has to be able to put the correct price for the
product clearly, and the consumer has to be enabled to see that. In the production of IPhone
Apple has been able to convince their customers of the value of their phones without
unnecessary price cuts.(Shaabaz, 2015)
Pricing strategy

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Running head: PRICE AND PLACE IN A MARKETING MATRIX Price and Place in a Marketing Matrix Vanessa McAndrew Capella University 1 PRICE AND PLACE IN A MARKETING MATRIX 2 Price and Place in a Marketing Matrix Marketing is a highly evolving field that requires astronomical levels of flexibility in a company. Rigidity of business in marketing may render it obsolete. This aspect of marketing necessitated the introduction of various tools to help in marketing. Chief among the tools is the marketing matrix. A marketing model is defined as a collection of marketing tools used by a company uses in an attempt to realize its marketing objectives in a target market. A marketing matrix consists of four large levels of marketing decision known as products, price, place, and promotion A market matrix is used by many international companies in order to reach out to their customer base that is mostly very wide. In this particular case, a brand, Apple is considered. Apple is a giant techno firm producing phones and tablets among other electrical products. The phone brand produced by Apple is known as iPhone while its dominant tablet brand is iPad. Apple is an example of companies that use the two P’s of place and price to market their products. Pricing as a marketing matrix A product should always represent good value for its money. Contrary to popular belief, this doesn't mean that the product has to be the cheapest one available. This strategy advocate for pricing according to quality ...
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Very useful material for studying!

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