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The 4 Elements of Marketing Mix

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Submitted By msnguyen7997
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1. Introduction
Australian retail petrol stations are operating through a network of different major oil company such as BP, Shell, Caltex, Mobil etc. Some are privately owned and operated; some are agents operating the service stations under an agreement with the oil companies; many are owned by those companies. They all provide essentially the same products to customers; the difference lies in their locations, value added service and their marketing programmes. The fuel price levels vary between service station operators due to “the location, quality or the price policies of the operators. Australian’s oil industry has some unique characteristics and very competitive local environment. Therefore, in many cases petrol suppliers use the lens to focus the elements of marketing mix so that the consumers receives an overall message about quality, cost, performance and the product’s position compared with competing brand.
2. Elements of Marketing Mix

Marketing mix is the term used to describe the combination of the four inputs: the product, the price structure, the promotional activities, and the distribution system that the firm uses to pursue the sought level of sales in the target market.
2.1 Product

The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees,and support.
The product mix includes the followings variables:

➢ Product line and range,

➢ Style, shape, design, color, quality and other physical features of a product, ➢ Packaging and labelling of a product, ➢ Branding and trade mark given to the product, ➢ Production innovation, and ➢ Product servicing.
2.2 Price
This refers to the process of setting a price for a product, including

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