Marketing Mix
Companies intending to market their products have to make sure that the product they intend to sell is the right one for their market niche. The product has to be sold at the price which can make them penetrate the market and in the right place. Finally, to guarantee brand visibility, they have to use the most suitable promotional gimmick (Kerin & Rudelius, 2001). All these constitute what we call the marketing mix. Certain critical conditions have to be met for a businesses entity to create the right marketing mix. One, the product being sold has to look good and work well. Secondly, it has to set the right price so that the consumers of this product buy larger quantities that can enable them accrue profits (Kerin & Rudelius, 2001). The product has to be within the reach of the intended buyers. Finally, those intended to use this product have to be made aware of the presence of the product in the market through promotion. Engaging in promotion eventually helps businesses spread costs over a larger output (Kerin & Rudelius, 2001).
A company like Samsung that deals in electronic products like the home fridges, mobile phones, television sets- the product element may be lets say the Samsung S4. For them to get the right price for this gadget they have to examine customer perception and the rival products for example the products manufactured by the Apple Inc. Cost of manufacture must also be factored in. Promotion of Samsung S4 will involve a range of promotional activities like the product unveiling in front of international media. The place element involves using the best channels of distribution like leading supermarket chains across the world. The product is the major focus of the marketing energy. Some other aspects like finding out how to make a product, setting up production line, and providing finance and manufacturing fall outside the borders...
Place Starbucks can be left without profits if it markets its products in the wrong locations. Place is the sites at which the company avails its products. This includes channels of distribution from the distribution point to the end customer. Starbucks attempts to minimize the distance customers have to move to the point where the product is sold. This is followed by targeting the appropriate target market before making decisions on
Marketing Plan Company description Royal line clothing was founded five years ago by tow Entrepreneurs, Nick Neumann and peter Jefferson. Nick is a holder of an undergraduate degree in marketing and has worked for a long period in the retail clothing industry. Jefferson on the other hand owned an adventure business but ended up selling this business to a person they were partnering with. Jefferson and Nick have been good friends from
Specifically focused on products for each phase of a persons' life, this business segment is the most mainstream in terms of promotional strategies. Skin Care, OTC and Nutritionals have successfully given JNJ a permanent marketing strategy for selling to women in the 25-34 and 25-45 segments, two of the fastest growing demographic markets for these products. Product Strategy The biggest challenge for JNJ is the ability to quickly develop and launch
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
The difference in country's economic condition makes Coca Cola to fix difference prices for the same product across different countries. 3.2: Integrating Pricing strategy with branding strategy ATC will use a unique brand position to ensure that customer accept prices fixed for its product and services, and the company will use differentiation strategy to make customer accept the prices fixed for its product. By creating a strong brand position, ATC will
Marketing Plan for Coca-Cola Marketing Plan for Coca Cola Coca-Cola, the most valuable brand in the beverage industry has the largest customer base, the strongest brand image, and a huge supply chain and distribution network all over the world. The Coca-Cola Company formulates effective marketing strategies to present its Coca-Cola drink to its most potential target consumers in the local and international markets. Coca-Cola is widely available in more than 200 countries
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