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Marketing Mix on Petrol Outlets

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SLMB100 Marketing Concepts
Assignment 1 Marketing Mix Report
INTRODUCTION
Organisations today operate in a dynamic and uncertain economy within a greater competitive environment. To remain profitable, organisations must implement a marketing orientation strategy whereby all business decisions are centered on delivering customer satisfaction. This strategy emphasizes the importance of understanding the identified key audience, their needs, wants and desires to effectively create and position an offer of value to both the customer and the organisation.
A useful tool to aid marketers in successfully positioning their offer is the Marketing Mix, more commonly referred to as the 4P’s – Product, Price, Promotion and Place. By adjusting these four elements, organisations are able to satisfy customer needs in their chosen target market/s whilst maximising their return. This model can be used for new offers entering the market, analysing existing offers or optimizing growth in a target market/s.
This report provides an overview of each element of the Marketing Mix and how they are applied to retail petrol outlets.
THE MARKETING MIX
PRODUCT
A product is defined as a good or service that offers a value to customers by satisfying their needs or wants. Products can be tangible, that is physically touched, or intangible such as services. A product consists of three layers. The inner core is the benefits it delivers to customers, the middle layer the actual physical product/service that enables delivery of benefits and the outer layer, augmented product “actual product plus other supporting feature”(Solomon, et al. 2011 p.181-185). In order to differentiate a product from competitor’s, marketer’s consider factors such as packaging, styling, functions, features, quality, safety, repairs, accessories, etc.
Products are subject to a life cycle. Their initial growth

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