Assignment: Marketing Mix

When you think of the types of services there
are, what comes to mind? Some examples could be wireless networks, lawn
maintenance, house cleaners, banks, and more. How about products? From
phones and televisions to cars and potato chips, the list could likely
go on as endlessly as the list of services. Some businesses offer both
services and products. Most restaurants, for example, provide a product
(beverages and meals) as well as a service (pouring drinks, cooking
food, serving tables, cleaning dishes). Although there are many types of
services and products, it is important to distinguish between them when
considering the marketing mix. The approaches needed for certain
aspects of the marketing mix can be different for services and products.

In this Assignment, you will identify the four
Ps of the marketing mix and examine how they differ when applied to
services versus products.

To prepare for this Assignment:

• Review this week’s Learning Resources.

Submit your responses to the following prompts.

• Identify each P in the marketing mix and explain what each P is. (300–375 words, or 4–5 paragraphs)
• Identify the similarities and differences between the marketing mix
  of a service such as a mortgage versus a product such as an automobile.
  (225–300 words, or 3–4 paragraphs)