Business / Marketing Mix
Autor: TBSCRUGGS 23 May 2011
Words: 1117 | Pages: 5
Marketing mix is a strategic tool that organizations use to predict a marketing plan of achievement (2009). Organizations concentrate on marketing because it is the link to creating a plan that will work for the success of selling a product or service. Progressive is one company that has used the marketing mix tool to satisfy their target market. The marketing mix consists of four elements, product, place, price, and promotion, and this paper will focus on how each of the four elements affects the development of Progressive’s marketing strategy and tactics. This paper will also focus on how Progressive implements each element into its marketing plan.
Progressive Insurance, a growing business, has been around since 1937. Joseph Lewis and Jack Green started the company offering security to customers for their automobiles and homes at a reasonable rate (1995). Since the start of the company, Progressive has taken an innovative approach to providing their customers with the best insurance. They offer competitive rates to its customers and communicate a perfect picture through daily advertisement explaining their goal, how they interact with their customers, and what they expect from each other as a team. Progressive develops a marketing strategy that has kept them in the competitive insurance market. Progressive’s market strategy is to aim at a specific group searching for the right insurance for the right price. Using the marketing mix tool as a guide for a strategic marketing plan, Progressive has been able to stay in a close race with its competitors.
Progressive’s marketing mix
Searching for the best car insurance can be nerve-racking because it takes an unusual amount of time. Progressive is the one company that provides a service that is not time-consuming. Their marketing strategy is to provide a one stop shopping advantage for its customers (2008). The marketing mix assists Progressive in implementing a marketing plan...