Bath and Body Works
Marketing Mix Analysis
The concept of the marketing mix includes the factors price, product, promotion, and place. Generally, understanding where the company is positioned in regards to these factors will serve as the basis for a comprehensive marketing strategy. This analysis provides a brief introduction to the marketing mix concept and then uses The Bath and Body Works to illustrate the marketing mix of a specific company. The Bath and Body company has actually just recently redesigned its marketing mix to better match the external environment and as a result has seen tremendous success. The changes they made included changes in the product mix and the promotional strategy and these changes have already proven to drive more revenue for the company.
Marketing Mix Overview
Most organizations develop their marketing strategy and marketing program on what is referred to as the marketing mix. The concept of the marketing mix includes the factors price, product, promotion, and place. Generally, understanding where the company is positioned in regards to these factors will serve as the basis for a comprehensive marketing strategy. The marketing mix is frequently used as the foundation for a marketing strategy because it allows marketing managers to promote their products or services in relationship to the external environments and it also serves as a useful framework for decision-making (Manktelow, N.d.).
The marketing mix is directed towards the consumer and the consumer is the recipient of all marketing efforts. There are many possible ways to understand and satisfy different needs and desires of a target market. The needs and desires of the consumer can be thought of in terms of the 4 Ps: Product, Price, Place, and Promotion. The Product is concerned with developing the right "product" for the target market. The needs of the consumer are in constant flux and evolve with changing conditions. Consumers may demand one thing one day and another the next day. Much of these demands are dependent...
This is because under non-organic methods, artificial chemicals are used to increase the yield of the produced. As a result, producers of ordinary beauty products items can achieve economies of scale, which helps them increase their profit margins even if they sell their produce at lower prices. However, since beauty products items produced using organic methods of production give their natural yield their output is less and therefore they
Grooming not only helps in zeroing in on external parasites and skin wounds, and does not allow fur to fall on furnishings, it also helps in spending a good quality time establishing a quality time with the feline friend. In case of shorthaired cats, one can use a metal comb which is fine-toothed on a weekly basis and a rubber brush or natural bristle to eliminate the traces of
5 billion (a$28.2 billion) in 2008 (IKW, 2009). The Germans have a long history in the business, with "eau de Cologne" being invented in Koln 210 years ago (IKW, 2009). The German market is continuing to grow slowly, despite economic challenges, recording 10.5% growth since 2004 (Ibid.). There are approximately 525 firms in the industry in Germany, ranging from large international enterprises to small boutique cosmetic and fragrance houses. The industry
Since the 1970s, the global retail clothing industry has experienced intense international competition and major shifts in the pattern of consumer demand. These pressures have had far-reaching implications for the clothing industry in the areas of pricing, design, quality, manufacturing processes and employment (Rath, 2002). According to this author, "In the 1970s, traditional manufacturers, particularly High Street retailers with their own manufacturing capacity, found themselves unable to compete with low
Rapid price declines from lingerie produced in third-world nations and the growth of discounters selling knock-off products. Shortages of key raw materials is also directly impacting the company's ability to accurately predict and respond to store demands for specific mixes of products. QUESTION # 5- HOW HAS the COMPANY CHOSEN to COMPETE? WHAT ARE the ELEMENTS of ITS STRATEGY? e.g, LOW COST SUPERIOR CUSTOMER SERVICE, ETC) Victoria's Secret has been very successful due
History Of Sanitation In our present lives, in hi-technology living spaces or homes, most of us spend our days indoors. Commonly, a home physically means an indoor place, inside space, a room, an apartment, a mobile home such as trailer or van or a structure that has a roof and walls strong enough to protect human beings from unpredictable danger such as intruders or natural disasters. The idea of constructing a
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