Arrowhead Marketing Elements Essay

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Elements of the arrowhead of marketing

Marketing has numerous elements. Going by the view of a firm that is anchored on marketing, the elements transcend all of the aspects of a company. The elements are examined separately in a broad perspective below but they are related. They have the potential to influence each other in either direction (Levisay, 2012). This paper examines the elements that make up the head of marketing arrow and their interactive pattern.

i. Product

A service or a good that a company offers is referred to as a product. Ordinarily, there must be a specified consumer demand that a product meets. Such a product characteristic should be so strong that the consumer holds that they need it (Levisay, 2012; Loo & Leung, 2016). In part, the product type influences where it is sold, its price and its promotion approach.

ii. Price

The price is the cost that a consumer incurs for accessing a product. Marketers have a role to connect the perceived value of the product and its real value to the price. Other equally important factors to bear in mind include the cost of supply, competitor prices and seasonal discounts.

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iii. Place

Place has to do with the location of delivery of the product on the market and where such a product is sold. Business executives have a role to present products before their would-be consumers.

iv. Promotion

Public relations, promotional strategy and advertising are all elements of promotion. It is connected to the three Ps of the marketing mix. Promotion points the consumer to why they need the product and the reason a given price is fair for them (Levisay, 2012; Loo & Leung, 2016).

v. The Target

While it is a central aspect that influences marketing outcomes, it is the most overlooked aspect in the marketing campaign planning process. It has to do with the target recipient or consumer of the campaign content. Target definition spans the industry, age and role.

vi. The Value Proposition

Like it suggests, the value preposition is all about making clear the role of the product in the consumer’s life and how the product helps in improving business, or consumers to solve their problem. Once you think about the audience targeted and empathize, you get the appropriate message. It should be done in.....

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References

Kelly, S., Johnston, P., & Danheiser, S. (2017). Align or Die? Ensuring Marketing and Sales Are Aligned with the Customer. In Value-ology (pp. 153-182). Palgrave Macmillan, Cham.

Levisay, B. (2012). Marketing Matters: The 6 Essential Elements of a Successful Marketing Campaign, RedMond Channel Patner. Retrieved from https://rcpmag.com/Blogs/Marketing-Matters/2012/01/6-Essential-Elements-of-Successful-Marketing.aspx on 24 February 2018

Loo, P. T., & Leung, R. (2016). A service failure framework of hotels in Taiwan: Adaptation of 7Ps marketing mix elements. Journal of Vacation Marketing, 1356766716682555.

Luo, A., Roach, S., & Jiratchot, C. (2015). The effect of the 7Ps of the marketing mix on air freight customer satisfaction and repurchase intention.

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