Companies need effective strategic planning to operate in our aggressive markets. This does not require the company to develop a strategy, but to understand what the best strategy is for them given their objectives and resources. They must also consider the company's strengths and weaknesses, as well as opportunities and threats. To improve the attitude of companies, a marketing strategy is introduced. The marketing strategy will create profitable marketing mixes for defined target markets. The marketing mix consists of four key elements to execute or examine for marketing campaigns. The main objective of the marketing committee is to optimize the marketing mix. Marketers can improve their results and marketing value by implementing the right combination of the four Ps. Subtle alterations made to the marketing mix are seen as tactical changes, while making massive changes to it can be considered strategic. The "Four Ps" of marketing are: product, price, positioning and promotion. Product: A product is an object or service that is mass-produced or manufactured on a large scale with a specific volume of units (Australian Business Cases, 2008). This part of the market mix also includes how the product is packaged, the overall performance of the product/service, as well as the design and structure of the product. Price: Price is the cost a buyer pays for a particular item. Price is determined by a number of factors including market share, competition, material costs, product identity, and the customer's perceived value of the product (Wikipedia, 2008). Prices will vary depending on demographics. Furthermore, the price of the product will also be influenced by competitive forces around the…middle of paper…all out. References Australian business case studies. (2008). Marketing mix. Retrieved August 3, 2008, from http://www.afrbiz.com.au.Cina, Mark.(2002). Toyota uses a unique marketing strategy for Scion. Retrieved August 3, 2008, from http://www.popularmechanics.com/automotive/new_cars/1270196.html?page=2.Gonzalez, Hector. (2005) Keepin' It Real': Will corporate sponsorship raise or break urban culture? Retrieved August 3, 2004, from Marketing mix. (2008, July 30). In Wikipedia, the free encyclopedia. Retrieved 8.55pm, August 3, 2008, from http://en.wikipedia.org/w/index.php?title=Marketing_mix&oldid=228807083Rechtin, Mark. (2005). Scion's dilemma: be hip, but avoid the mainstream. Retrieved August 3, 2008, from http://www.autonews.com.Truell, Andy. (2008). Marketing mix. Retrieved August 3, 2008, from www.answers.com.