{"id":10694,"date":"2017-03-13T17:28:52","date_gmt":"2017-03-13T17:28:52","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/masterybusiness2xngcxmasterspring2016\/?post_type=chapter&#038;p=10694"},"modified":"2024-05-07T16:44:23","modified_gmt":"2024-05-07T16:44:23","slug":"why-it-matters-marketing-mix","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/chapter\/why-it-matters-marketing-mix\/","title":{"raw":"Why It Matters: Marketing Mix","rendered":"Why It Matters: Marketing Mix"},"content":{"raw":"<h2>Why explain how organizations use the marketing mix to market to their target customers?<\/h2>\r\n(Note that the following video has limited narration. Access audio description using the widget below the video.)\r\n\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?ad=1&amp;ad_autoplay=0&amp;ad_default_source_volume_control=0&amp;ad_source_volume_control=0&amp;mf=4286099&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=573&amp;video_id=FHtvDA0W34I&amp;video_target=tpm-plugin-80astx6p-FHtvDA0W34I\" width=\"800px\" height=\"500px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\n\r\nYou can <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/FelixBaumgartnersSupersonicFreefall_transcript.txt\" target=\"_blank\" rel=\"noopener\">view the transcript for \"Felix Baumgartner's supersonic freefall from 128k' - Mission Highlights\" (opens in new window).<\/a>\r\n\r\nWhy did\u00a0Red Bull sponsor Felix\u00a0Baumgartner's record-breaking free fall from outer space? Why does Anheuser-Busch pay millions of dollars for a 30-second television spot during the Superbowl? Why does Verizon Wireless put its name on concert venues and amphitheaters around the country? Think about these three examples and how appropriate the strategy is to the target market. Energy drinks and skydiving are a great matchup, and football and beer are a natural fit. What about cell phones and concerts, though? Who goes to concerts? The same people who have the heaviest cellular phone usage\u2014teenagers and young adults. There is a method to all of this madness we call marketing. In short,\u00a0all of these companies have determined that their\u00a0efforts, although costly, support a\u00a0marketing strategy that will give them the highest return on their marketing dollars and reach their target customers most effectively. Using an appropriate quantity of each component of what we refer to as the \"marketing mix\" helps businesses meet\u00a0their sales goals. This is what we will explore in depth in the coming section.","rendered":"<h2>Why explain how organizations use the marketing mix to market to their target customers?<\/h2>\n<p>(Note that the following video has limited narration. Access audio description using the widget below the video.)<\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?ad=1&amp;ad_autoplay=0&amp;ad_default_source_volume_control=0&amp;ad_source_volume_control=0&amp;mf=4286099&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=573&amp;video_id=FHtvDA0W34I&amp;video_target=tpm-plugin-80astx6p-FHtvDA0W34I\" width=\"800px\" height=\"500px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><\/p>\n<p>You can <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/FelixBaumgartnersSupersonicFreefall_transcript.txt\" target=\"_blank\" rel=\"noopener\">view the transcript for &#8220;Felix Baumgartner&#8217;s supersonic freefall from 128k&#8217; &#8211; Mission Highlights&#8221; (opens in new window).<\/a><\/p>\n<p>Why did\u00a0Red Bull sponsor Felix\u00a0Baumgartner&#8217;s record-breaking free fall from outer space? Why does Anheuser-Busch pay millions of dollars for a 30-second television spot during the Superbowl? Why does Verizon Wireless put its name on concert venues and amphitheaters around the country? Think about these three examples and how appropriate the strategy is to the target market. Energy drinks and skydiving are a great matchup, and football and beer are a natural fit. What about cell phones and concerts, though? Who goes to concerts? The same people who have the heaviest cellular phone usage\u2014teenagers and young adults. There is a method to all of this madness we call marketing. In short,\u00a0all of these companies have determined that their\u00a0efforts, although costly, support a\u00a0marketing strategy that will give them the highest return on their marketing dollars and reach their target customers most effectively. Using an appropriate quantity of each component of what we refer to as the &#8220;marketing mix&#8221; helps businesses meet\u00a0their sales goals. This is what we will explore in depth in the coming section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-10694\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Why It Matters: Marketing Mix. <strong>Authored by<\/strong>: Linda Williams and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>Felix Baumgartner&#039;s supersonic free fall from 128k&#039;: Mission Highlights. <strong>Authored by<\/strong>: Red Bull. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/FHtvDA0W34I\">https:\/\/youtu.be\/FHtvDA0W34I<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":26,"menu_order":1,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"Felix Baumgartner\\'s supersonic free fall from 128k\\': Mission Highlights\",\"author\":\"Red Bull\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/FHtvDA0W34I\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"},{\"type\":\"original\",\"description\":\"Why It Matters: Marketing Mix\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"beee096e-4fdf-4839-8a7f-eecb250dd73e","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-10694","chapter","type-chapter","status-publish","hentry"],"part":10800,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/10694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/users\/26"}],"version-history":[{"count":18,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/10694\/revisions"}],"predecessor-version":[{"id":15505,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/10694\/revisions\/15505"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/10800"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/10694\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/media?parent=10694"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=10694"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=10694"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/license?post=10694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}