Marketing Mix Essay

Product refers to the universe of discourse or design of a well or service. It is here that the address begins in the life of a merchandise. In this severalise of the commercializeing mix the design is made, the open up is created, and even the packaging of the good is resolute upon. This is where a result involve to be created in a sort that makes the proceeds grocery storeable for its intend tar look at. (Manktelow, 2013) Place is the process in when it is decided where the return is press release to be sold and how the proceeds give be distri scarceed.M whatever questions are answered in this part of the process such as Where do buyers look for this harvest? , What conduct of distribution should be drilld? , Do we subscribe to to use a gross sales force, attend vocation shows, or despatch s international ampereles to companies? , and What are opponents doing? (Manktelow, 2013) For example, a gild producing military unit tools would non want to distr ibute their goods in a boutique. The intended customer make is non likely expiration to be found here. The correct distribution would be in a store where government agency tools are sold like domicil storehouse. While having a great harvest-home is burning(prenominal), you need to get it to the consumer in the virtually efficient manner.Price is where the value of the harvest is determined. Pricing is fitting as important as the yield itself. No count how great a reaping is, it needs to be legal injuryd so that consumers forget be departing to purchase it and so that it will make a profit that is expenditure investing in. Pricing also back tooth offer a chance to get a leg up on the tilt. In consecrate to give an service in market share a comp whatsoever may decide to price their mathematical product about lower than their contenders price. (Manktelow, 2013) Promotion is how a union creates their forward motional strategy, advertising, and public relatio ns.Promotion is passing important in making the consumer assured of the product. It is also very important that the promotional strategy is aimed at the target audience. (Manktelow, 2013) For example, to provoke a new basketball enclothe advertising could be created featuring a overlord basketball player and the product could be heavily advertised during basketball games on idiot box when the intended audience is going to be watching the game. PayPal, Inc. is a paymentment processor that operates primarily in bear on payments on the internet.In 2010 PayPal began to push a new motto of Anytime, Anywhere, Anyhow. PayPal was winning their online payment service and moving them into the corporal world. In order to achieve this PayPal began force their mobile payment services to mother products that would help to achieve this vision. PayPal required a product that would allow masses to very use PayPal anywhere at any time. In 2012 PayPal launched PayPal hither. PayPal her e is a product that connects to a smart surround to allow merchants to accept credence card payments wherever their business may take them.To allow buyers the convenience of victimisation PayPal anywhere, PayPal revamped the PayPal Mobile App. The PayPal Mobile App allows a person to send funds at any time victimisation their smartphone. Whether it is sending silver to a friend or salaried for an item on eBay, the PayPal Mobile App allows buyers to use their PayPal account without having to be in attend of their computer. The other product PayPal created for both merchants and for buyers is PayPals in-store checkout. In December of 2011 PayPal partnered with The denture Depot to unveil this new product and feature.Customers of the Home Depot no longer need to bring their wallet to the store with them. By simply entering their mobile frame and PIN number they foot pay with their PayPal account. Upon checking out the customer receives a schoolbook message and email receipt of their purchase. This depiction demonstrates the PayPal in-store checkout process. http//www. youtube. com/watch? feature=player_detailpage&v=Q8P9qT9EIVk PayPals placement of the product was not as complicated as many companies selling a product like a hammer or shoes.The PayPal Here product is a way to use the PayPal Here service. Customers simply overhear to go to the PayPal website or PayPal Here App and need the PayPal here dongle. It is sent to the customer at no cost because the value is in the customer accepting payments using the PayPal Here service. This benefits PayPal in that they do not wee-wee to deal with major distribution channel in getting their product into the just store. They simply need to ship the product to the customer that asks for it off of the PayPal website.PayPal has structured their determine to remain ahead of their primary competitor Square. PayPal charges 2. 7% per transaction to receive payments using the PayPal Here product. Square has a akin(predicate) product and charges 2. 75% per transaction. The cost of the phone attachment for PayPal Here is free. This has allowed PayPal to keep up with their competitor. In order to effectively market this product PayPal needed to have a price that at least met that of their competitor in order to get wad to use the product.PayPal decided to charge some less than their competitor in order to gain customers new to this technology and to transport some customers away from Square. Had the service not been available through and through a competitor, PayPals pricing may have been different. Having a price that meets or beats the competition shows that PayPal is merchandising their product to not just to customers new to accepting mobile payments, but to those that are already accepting them which expands the market they are targeting.PayPal also offers other types of services other than just accepting payments on a mobile phone which creates more value for potential customer s. PayPal has launched aggressive marketing campaigns through email and through banners on their website. PayPal has never advertised their products on television or radio and they did not derail with the launch of PayPal Here. PayPal announced PayPal Here at a media event and let the media paste the word along with the advertising occurring through email and on the PayPal website.This helps PayPal save silver in advertising and promotion turn still promoting their product efficiently. PayPals intended targets for PayPal Here are small businesses and people who sell at events like trade shows, service (lawn care, plumbing, etc. ) who would like to be able to give their customers more options to pay for their services. The marketing mix is an effective way to help successfully market a product or service. It addresses every face that is needed in order to successfully prepare a product to be launched.The four Ps nominate together to help a association provide the consumer with what they want, get the product to the consumer that demands the product, sells at a price that benefits the company and the consumer, and will promote the product to the right audience. Without the square-toed use of the marketing mix a product could easily fail. A company could design a new product that may seem great, but if they do not market the product in good order the right people will not see it, buy it, or be aware(p) of it. Without the sales, the life of a product can be short lived because of uneffective marketing. PayPal has shown an effective use of the marketing mix.PayPal place a consumer need, PayPal designed a product and service that would meet the needs of the consumer, PayPal found an efficient way to deliver the product and service to the customer, PayPal provided a price that was slightly better than the price of their competitor to gain a market advantage, and PayPal effectively utilize word of mouth promotion and promotion through their own website to make consumers aware of this new innovative product that can meet their needs. It has been effective use of the marketing mix that has helped PayPal remain on superlative of the online payment processing world.