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ID number:144162
Evaluation:
Published: 26.08.2004.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
Extract

At any successful company, marketing seeks to connect with customers, serve their needs, and accomplish the stated mission of the organization. A successful marketing process creates value through consumer satisfaction from brand building before the sale to post-sales service and support (Kotler et al, 2001). The marketing strategy process has four primary segments: product, price placement, promotion and people (Kotler et al, 2001). Companies with a service element to their business often highlight three additional areas: people, processes and physical evidence. In addition to outlining the seven Ps, this report focuses on the unique product and service marketing approach used by Netherlands-based furniture retailer and franchisor Inter IKEA Systems B.V.
The Expanded Marketing Mix
According to McDonald and Dunbar (1998), the marketing mix is the term used to describe the tools and techniques an organization uses to implement the marketing concept. Kotler et al (2001) recognize "4 Ps" that encompass an organization's entire competitive marketing strategy: product, price, promotion, and place. …

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