unt retailer like OfficeMax.OfficeMax’s executives understood that the product area of the marketing mix is concerned with developing the right product for the target market. Place is concerned with getting the right product to the target market place. A product reaches its customers through a channel of distribution. Promotion is concerned with telling the target market about the right product. Promotion includes personal selling, mass selling, publicity, and sales promotion. Price is the forth component of the marketing mix. For the competitive environment of discount office supply stores, pricing becomes a very vital component of this marketing mix.In setting price, marketing managers must try to consider the kind of competition in a target market. They must also try to estimate the customer reaction to possible prices. Besides this, they must also know the current practices as to discounts, and other forms of sale. Further, they must be aware of legal restrictions on pricing. If customers will not accept the setting price, all of the planning effort in the marketing mix is wasted. All four Ps (Product, Place, Promotion, and Price) are interrelated and tied together in the marketing mix, obviously, the selection of the target market and developing this marketing mix are interrelated. Both parts must be decided together. It is strategies that must be evaluated against the company’s objectives. A marketing strategy sets a target market and a marketing mix. A pricing strategy in the market plan is a written statement of a marketing strategy and the time. The marketing strategy ids related to the objectives of the OfficeMax’s marketing plan that can be clarified to address the following questions in detail: (1) What marketing mix is to be offered to whom and for how long?, (2) What company resources will be needed at what rate?, (3) What results are expected in regards to sales and profits monthly, quarterly, and yearly...
