Borden Marketing Mix Analysis

interacting in the market and trying to meet their all their demands by offering the right product or service is a very challenging task that cannot be achieved by the vast majority of companies. This happens because consumer attitudes and preferences towards a product vary greatly from individuals from country to country, from generation to generation and even from individuals of the same age living in the same geographical area have different attitudes and preferences. However, we also note the prevalence of the same tastes and preferences for a product from people living in different continents, belonging to different cultures and social classes. Thus, trying to identify the common needs and preferences among individuals is a major challenge

It consists in adapting the four elements of this mix (product, price, place or point of sales and promotion) to the preferences of a company’s target segment. This marketing tool is widely used by businesses in order to achieve their goals (Keller & Kotler 2006).

The four elements of the marketing mix:

1. Product: good or service offered with the objective to meet a specific existing need from the market demand.

2. Price: valuable assets exchangeable for a product or service that will be determined as a function of the production costs, the segment targeted, ability of the market to pay and supply.

3. Place: distribution channels through which the company makes its products or services available to

L. 2013. Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Pearson Education

• Salience: awareness of the organization and its importance to the audience. Translated into the importance of marketing activities, advertisement and public relations communication efforts focusing on increasing the brand awareness.

• Performance and Imagery: characteristics and visual representations of the brand, including reliability, durability, efficiency, style and design, value, personality and values built when evaluating a good based on a variety of different features. The organization tries to establish strong points of difference in order to stand out from competition.

• Judgments and Feelings: emotions felt and qualifications of a brand after having experienced a brand’s performance. Marketing, branding and public relations activities focus on this transitory level, given that is a key step for achieving brand resonance and obtaining engaged consumers.

• Resonance: strong connections with the brand are established leading to consumer’s loyalty and attachment to the