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MKT421 Wk 1 DQ 3

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Select an organization with which you are familiar. How does your selected
organization use the different components of the marketing mix? How does the
marketing mix affect the development of your selected organization’s marketing
strategy and tactics? How can your selected organization use quantifiable
elements to evaluate, monitor, and control marketing effectiveness?
How does your selected organization use the different components of the marketing mix?
My selected organization, GEICO insurance, has a very successful marketing mix.
Price: GEICO insurance has competitive rates that enable it to retain its customers.
Product: Some of the companies in the market offer a very limited portfolio of insurance plans.
GEICO insurance, on the other hand, offers 15 different types of plans to its customers to stay in
the competition.
Promotion: Their advertising campaign is very clear and draws immediate interest. Their slogan,
“so easy, a caveman could do it”, and the lovable gecko shown in the advertisement are the main
spotlights.
Placement: Just like other big names in the insurance business, GEICO insurance is utilizing the
power of internet to the full. Now customers can get all the information online along with the
quotes regarding GEICO’s suitable insurance plans.
How does the marketing mix affect the development of your selected organization’s marketing
strategy and tactics?
GEICO puts forward a wide range of insurance plans at reasonable prices and attracts customers
through brilliant marketing while using latest mediums such as internet presence and shopping.
This enables GEICO to have an edge over its competitors.
How can your selected organization use quantifiable elements to evaluate, monitor, and control
marketing effectiveness?
Ratio between sales and advertising, analysis of customer feedback and incline/decline in
relation of sales vs. promotion can be used to assess, scrutinize and control marketing
effectiveness.

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