The paper “ Correct Insurance Policy Introduced to the Partners of Veterans Association Inc - the Marketing Mix and Segmentation" is an outstanding variant of a case study on marketing. Marketing is the process of preparation and execution of a strategy that will get goods and services to potential buyers in the market, (Stolley & Karl, 2013). It is comprised of components referred to as “ the four P’ s” (Product, price, promotion, and place). First, the product is the goods and/or services that a specific enterprise supplies; it is pigeonholed by quality, packaging, assortment, and guarantees.
Secondly, price is the value of the products and/or services. Thirdly, promotion is the way in which an enterprise creates awareness of the products and services it offers. Lastly, place (distribution) is how the products or services are brought to the customers; it constitutes the wholesalers, retailers, sales representatives, and multi-level marketers. These components of marketing are further defined as a set of techniques and tools that social enterprises adopt in order to attain their organizational objectives (Adcock, Halborg, Caroline & Ross, 2001). Consequently, choosing the correct product or service and marketing it to provide for The Partners of Veterans Association of Australia Inc.
requires that one to carefully consider the factors revolving around “ the four P’ s” BACKGROUND STUDYThe Partners of Veterans Association of Australia Inc. is a company founded in 1999 with the aim of restoring hope, offering emotional support and friendship towards members of the family who had lost their loved ones but mostly in the line of duty. PVA’ s primary perception is that there must always be a connection to signify this formerly neglected and at-risk team.
Consequently, PVA considers it is crucial that no Associate ever seems abandoned, beaten or most of all, completely alone. This Organization provides assistance, relationship, details, and knowledge from individuals in the same situation. They are cautious in viewing for any changes that the got of the day may present that are damaging to you or your loved one's wellness, way of life and well-being. The association is a noncharitable unit and an NGO’ (non-governmental Organization). The organization is entirely run by volunteers. The group is not funded by the government.
The Partners of Veterans Association of Australia inc. was the first company to acknowledge the needs of partners and family. The setting of the Partners of Veterans Association can be described as a community that is encumbered with risks such as retirement, medical and loss of life. Consequently, in a setting like the Partners of Veterans Association of Australia Inc. the best product to offer is an insurance policy. However, in order to come up with the precise product or service that will fit this type of setting, it is important to determine market objectives that will be able to steer the process of choosing the product, deciding the correct price, correct strategies for promotion and place. Determining marketing objectivesMarketing objectives play the role of a steering wheel in a business setting.
They define what you want to achieve in your marketing endeavors. When establishing effective marketing objectives, specific, measurable, achievable, realistic and time-specific also known in short as ‘ SMART’ , the approach is applied for effectual management of marketing strategies (David, Wiley & Sons, 1988).