Reflection Paper Problem
Explore the topic of The Marketing Mix. A company's marketing mix may be described as a combination of techniques and actions used to push its products into the market. It's called a marketing mix because it's made up of four separate parts that must be used in tandem to produce favorable outcomes.
The usage of a marketing mix is a great approach to guarantee that "the appropriate product is in the right place at the right time" happens. The marketing mix is an important tool for determining what a product or service can provide and how to plan for a successful product launch. The four Ps of marketing are most often used to implement the marketing mix: price, product, promotion, and place.
Considers the new marketing mix, including recent developments in e-business and e-marketing and their impact on marketing strategies. Following the early hype of the online and dot.com boom, and the equally spectacular online bust the chapter takes a more measured view of the opportunities and threats Internet-based technologies have to offer organisations, and looks at how they integrate with the more traditional elements of the marketing mix.
Videos:
Case study entitled, "How ABB FIA Formula E championship built a fan base from scratch" discusses leveraging the marketing mix in strategy.
After reading this case study, conduct a 2 to 3 pages reflection paper addressing the following discussion questions:
• Which target markets is Formula E aiming at?
• How is Formula E competing in the world of motorsport?
• How does Formula E use digital media in its marketing mix?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.