Response to: https://blogs.ubc.ca/serenarvp10/2011/09/23/pepsico/
While reading my classmates’ blogs, I had the opportunity to read Serena’s post about PepsiCo’s marketing procedure and how the marketing department plays a predominant role within the company’s objectives. After studying “marketing mix” in my marketing lectures, I find myself constantly applying this term to many of the companies I encounter regularly in order to understand how they want to sell a product.
Marketing Mix is a set up ingredients (product, price, place, promote) used in ways that both targeted groups and organizational goals are reached. A company has to use the essentials of marketing mix: decide what product to sell in order to make their investments result with even higher profits, choose a competitive price for its product, have a place in mind to distribute the product, and promote the product so consumers can be aware of what is being sold. In my opinion, this strategy brings up effective steps a company’s marketing department follows before coming out with a new product or service.
Most companies, such as PepsiCo, Procter&Gamble, and Coca Cola use marketing mix as an affective strategy before introducing a new product/service into the market. For example, PepsiCo’s marketing mix for Pepsi represents how well prepared they were before they entered the beverage market. PepsiCo’s beverage product is Pepsi and they are willing to sell this product at the lowest price possible in order to have competitive advantage. Pepsi is then distributed within retailers, distributors and bottlers in order to reach the customer. Finally, Pepsi is promoted through heavy advertisements and sponsorships. This process helps PepsiCo position their product and target a market where they can successfully have most of the market share. Marketing mix helps companies reach consumer groups and accomplish their own objectives with the product.