The Four Major Components of a Marketing Mix

When dealing with marketing, it is always important to keep in mind "The Four P's." The Four P's are recognized in marketing worldwide.

1. Product: It is essential that you provide the right "product" for you targeted market. The "product" can either be something physical or a service. The important thing to remember is that your good and/or service should satisfy your customer's needs.

2. Place: It is very important that once you have the right "product", you find the right "place" to sell it. A product isn't much good to a customer if it isn't available when and where it's wanted.

3. Promotion: Once you have the right "product" and the right "place" to sell it, you have to tell your targeted market about it. There are several different ways to go about "promoting" your product that include both promoting face-to-face and promoting through the masses.

4. Price: In addition to developing the right Product, Place, and Promotion, you must also decide the right "price." In order to come up with the price that best suites your product you have to consider your target market and how they might react to the price you have set.

All four P's are needed in a marketing mix. In fact, they should all be tied together evenly. But is any one more important than the others? Generally speaking, the answer is no - all contribute equally.

For this blog I have used information from the article "The Four Major Components of a Marketing Mix" by Mara Bateman.

Collaboration technology

At first I didn't quite know what was defined as "collaboration technology" and then I realized it's any sort of technology that allows collaboration between two or people. So how does this apply to classroom group work? I know I hate having to meet in the library twice a week with group members to work on a project. Email has been such a HUGE "collaboration technology" that has helped make group projects much easier and convenient for everyone. It is so easy to shoot an email to someone in you group to ask them a simple question that you would have other wise had to wait to ask them until you saw them. Things like GoogleDocs has also helped with group collaboration. It allows a group of people to all add to the same "Doc." It's a great way share information with your group without having to meet as frequently.

I also believe that even though there is much evil assigned to cell phones and texting, texting can be a very way to technologically collaborate with a group member. It's an even faster way to communicate with someone than email!

Effectively Presenting in classroom....

Giving a presentation in a classroom can be a dangerous situation if not properly prepared for. I found the discussion we had in class and the power point posted on blackboard on presenting in class to be very useful.
I find the two most important tips to preparing for an effective classroom presentation to be identifying your purpose and analyzing your audience.
1. Identify your purpose:
Decide what you want your audience to believe, remember, or do when you're finished.
-Do you want to inform them?
-Do you want to persuade them to some action?
Aim everything you say or do towards your purpose.
2. Analyze your audience:
While preparing your presentation you need to think about your audience.
-How many people will be in your audience?
-Why will they be there? by choice?
-What is the age of your audience?
-What will be the age, gender and demographics of your audience?

***I got this information from the power point "Speaking with Confidence" on Blackboard.

Working Business

I currently work at Select Satellite on 1400 N and 125 E here in Logan City. I have been working there for about five months now, and it has been a huge learning experience for me! I have learned a lot about having your own business because my boss does exactly that! He started his business about 10 years ago and has been working hard ever since! When I first started working there I was so overwhelmed by the endless list of things I had to learn. From day one I was left alone in the store, expected to basically fend for myself. I learned very quickly how important it is to take notes and write down what you're expected to know and do, remember to read your lists you make, and to actually do what you're asked.
Running a business is a lot of work, and it takes a lot of motivation. I have learned from my boss that when you own your own business you have to be extremely self motivated because there's no one else above you to tell you what to do. As a business owner, you have to remember to do all essential things. Continually "forgetting" to do things can substantially jeopardize your business.

the INDIRECT approach

I really struggled with using the "indirect approach" in the first few letters we had to write for our MIS class. It was hard for me to understand the concept and the purpose of using the indirect approach. I couldn't understand why it was so important to "beat around the bush" as I called it. Why can't we just say, "No, you can't get a refund." or "You have been declined for our credit card." Saying, "We think you're a great person and we love you as our customer, but maybe you should withdraw your application" seems a little....strange.

Like I said, at first I couldn't understand the purpose, but I have now come to understand. I agree with the "indirect approach" to an extent, but I don't believe in "beating around the bush". Sure, I think we sure sugar coat it up a little, but I also think we need to tell it how it is. Down and straigh to the point.

Archaic? I don't think so....

"No longer current or applicable"
-definition of archaic by 'thefreedictionary.com'

I believe that letter writing is still very important in today's world. Although there is new technology and new ways that COULD replace letter writing, I don't think it should be wiped out all together.

Writing a formal letter is very important in a business environment. It signifies that something is important enough to take the time to sit down, think through things and write in a correct format.

Writing an informal letter to someone also signifies that you took the time to write by hand (which takes longer for most than typing an email or send a text).

What should we wear to a business interview?

"The first impression you make on a potential employer is the most important one. The first judgment an interviewer makes is going to be based on how you look and what you are wearing. That's why it's always important to dress professionally for a job interview."
-Alison Doyle, About.com

Like this quote says, what we wear to our interviews is extremely important. What we wear is what our possible, future employer will remember us by.

For a business interview, men should wear:

• A solid, dark colored suite with a white (or a coordinating colored) long-sleeve shirt.
• Conservative tie and belt
• Dark socks and shoes
• Neat hair-cut and trimmed nails
• Limit after shave

For a business interview, women should wear:

• A solid, dark, modest suite with a coordinating colored blouse
• Neutral colored nylons and conservative shoes that you can walk comfortably in
• Limited jewelry (no dangling earings), make-up and perfume
• Professional hairstyle and clean nails