The five P’s allow one to pinpoint a company’s strengths and weaknesses and determine its strategic advantages, elaborating a market strategy best suited for the promotion of the company’s products. Product marketing mix refers to product properties such as quality, design, brand, packaging, and services. Place refers to the logistics chain and allows one to determine the market where the goods will be sold, be it a local or global one, and the number of facilities and distribution channels.
Price allows for choosing a marketing strategy best suited for a particular company’s goals, determining whether the company aims to become a market leader or choose a differentiation strategy of promotion. Promotion refers to the activities that educate customers about the product’s properties and includes advertising and personnel selling. People refer to employees in sales who can be supportive and attentive or rude and indifferent to customers’ needs. The attitude of employees serves to create a particular image of the company. That is why it is vital to keep salespeople motivated, for example, by offering them bonuses for several sales.
I particularly enjoy Apple products since the company’s marketing mix is superb in all its parts. In terms of products, Apple computers and iPads are of high quality and have an excellent design. In terms of place, they are sold all around the globe and can be easily purchased by anyone. In terms of price, the products are expensive, but a superb quality of goods offsets this disadvantage. In terms of promotion, the company issues press releases before the actual product is put on the market, which allows customers to appraise the products’ properties long before the actual purchase. Salespeople in Apple stores are always attentive and helpful, so I want to return there again and again.