Marketing Mix, Pricing Strategies
Segway Marketing Strategies
The Segway appeared as a response to the quickly changing environment and shifting features of consumer demands. Expected to revolutionize the traveling habits, the Segway failed to retrieve the desired outcomes however. The two-wheeled electric gadget is produced by Segway Inc. And it is based on the invention of Dean Kamen. The reasons for the failure are unclear, but one could point out a poor marketing campaign, high costs of developing, leading to high prices; the current price of a Segway within the United States ranges between $5,350 and $6,400 (Segway by the Bay, 2008). To ensure a future success for the traveling device, certain aspects of the marketing mix should be reconsidered. Some suggestions are presented below for the 4 Ps of marketing (product, place, price and promotion), with emphasis on pricing methods and strategies.
Product
The product strategies must be focused on the benefits the Segways offers its buyers: reduced costs with fuels, speed and the ability to reach destination on time, avoidance of traffic jams, better protection of the environment and no troubles with finding a parking spot. The product placement strategies should focus intensively on the ingenious features of the item and also on the organizational brand.
Price
The pricing strategies to be developed and implemented by Segway Inc. are rather difficult to establish generally due to the challenges faced by the manufacturer. These difficulties generally revolve around the ingenious nature of the product, which can make it problematic to properly address and identify the target audience. The second most important aspect that raises difficulties, and extremely relevant in the context of pricing strategies, is that of rather reduced revenues. Since the company did not meet its set sales objectives, they are now encountering financial limitations, which require increased attention and a well developed and implemented pricing strategy. From this standpoint, the manufacturer could choose to increase...
How do the sites support the positioning and pricing of the three brands? They are dramatically different, with the Monogram site being completely separate, supporting the premium positioning. The site is done to connote the premium position and the use of these appliances in custom homes. GE Profile is more mainstream and focuses on the stylish yet utilitarian aspects of their product line. The GE site itself is more focused
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
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This he can do by engaging in extensive advertising, public relations, sales promotion, personal selling, internet marketing, and sponsorship. Depending on the resources available, the client can use any form of mass media that is within his means. He can also go for the services of public relation companies to obtain favorable publicity within the media. The client can also make use of money off coupons or special offers
Marketing Mix and Kindle Fire The Marketing Mix and Amazon's Kindle Fire The marketing mix is an important tool used by organizations and individuals as part of an effective marketing strategy. "Every marketing strategy is composed of the same four components: price, product, place, and promotion" (Colbert, Nantel, Bilodeau, & Rich, 2001, pp. 19). A marketing specialist needs to know the function of each of these components and must also know how
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
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