Elements of Success
October 2, 2013
Elements of Success
For marketers, the four P’s or the “elements of a marketing mix” is known as studying the right product, putting that product in the right place, at the right price, in the right manner. In simplest terms, the four P’s is as followed: product, place, price, and promotion. Implementing all four P’s can mean success for an organization. To the Hawaii Department of Education, executing each element precisely without mendaciousness is the difference between mediocrity and exceeding expectations. Even though Hawaii’s public school system graduate majority of their students, something needs to ...view middle of the document...
Nonetheless, where products are placed is crucial on the future growth and profitability of your product. A place that condones violence and promotes chaos would not be the right place to encourage education. An ideal place would be well ordered, maintained, safe facility where it is quiet majority of the year. For this very reason, location, location, location, is just as important as the other P’s in the marketing mix.
Price is what you give to get a good or service. Price is often the most flexible out of the four P’s. Always change depending on the demand and supply of a good or service. If a price is set too high, you may weaken the demand for your offerings. If a price is set too low, businesses will not make a reasonable profit. By knowing this notion, you can see how important price is to an organization. It is a company’s competitive weapon and if used wisely, it can maximize profits for the firm’s good or service.
When marketers deal with education, price is the amount of funding the government allows the school to operate with. With a greater demand to place more students, the government will provide bigger annual budgets. Here price takes a slight turn when government funds are spent frivolously keeping students from reaching their full potential. Teachers being allowed to claim mileage just to drive to school or dropping their own children off in an out of the way school before coming to work takes extra dollars away from employing key staff positions. Creating a seal proof environment when even if students veer of course, means a better chance of putting students right back on track.
Although teachers put in order request for snacks such as soda and chips and have been approved for time and time again, one can only imagine who has approved such outlandish requests. This has been a technique teachers have used to either buy students respect or simply get them to do what they want. Order forms for Apple ipads to teach a curriculum has also been recorded and approved. The DOE purchase brand new government vehicles every four to five years regardless of the flawless condition the car is in. The Accounts Audit Department in the DOE does see such incidents but are instructed to ignore such requests by leads within the department causing government funds intended to educate burn to a crisp.
What informs, persuades, and reminds potential buyers of a product or service, so it influences them to make the purchase is the promotion element of marketing. Firms may use coupons, free samples, and giveaways to entice consumers to buy their good or service. Another way companies promote their products is through social media like Facebook, Instagram, and Twitter, to name a few. Imagine that there was no promotion going on. We would be oblivious to anything that could be out in the market.
Mindful of not falling for any facades or fronts is important when dealing with any promotions....