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Marketing Mix - a Strategic Tool That Organizations Use to Predict a Marketing Plan

Autor:   •  May 23, 2011  •  Essay  •  1,117 Words (5 Pages)  •  2,507 Views

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Marketing Mix

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.

About Progressive

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 to continually improve the business in order to meet and surpass the maximum opportunities for their customers. Progressive listens to the opinions of their customers because it helps to identify the areas which need upgrading which will lead to offering even better service.

Product

Progressive provides insurance that protects their customer’s home, auto, and other personal values. Their insurance offers products through 30,000 local independent agents (1995). Progressive’s apparition is to reduce the human distress and economic costs associated with automobile accidents (1995). Progressive’s direct insurance offers services directly through the phone or online. Once the customers purchase the service they will have 24/7 access to their policy to make changes or they can call a customer service

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