A model to investigate the influence of marketing-mix efforts and corporate image on brand equity in the IT software sector. Matchmaking With Math: How Analytics Beats Intuition to Win Customers, marketing mix essay. It is a multinational giant that has headquarters in the United States of America. GAP is an American-based company with 4, stores worldwide. Easyjet Assignment Airline Marketing mix essay Process Marketing Mix Price Pricing Pricing strategies Target market.
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Marketing Mix for Effective Marketing: The marketing mix can be considered as the most famous marketing term after it was published in in an article by Neil H. The term has become common in marketing because its elements are the fundamental, marketing mix essay components of a marketing plan. The marketing mix elements are product, price, place, and promotion which are the four major categories that guide marketing decisions. These four elements are also parameters that marketing managers can control based on the internal and external constraints of the marketing environment.
History of the Marketing Mix: As an important topic in marketing, the concept of the marketing mix was generated in by James Culliton who described the marketing manager as a combination of ingredients. In his development of the idea, Culliton stated that marketing decisions should be the product of something like receipt. Culliton's explanations analogues to the restaurants…. References: AdamMarketing Mix, Sooper Tutorials -- Making Web Free for Learning, viewed 14 DecemberEGyanKosh -- National Digital Repository n. 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. A marketing specialist needs to know the function of each of these components and must also know how to balance them in order to create a successful marketing strategy.
Most importantly, marketing mix essay, and before the marketing mix can be utilized, a marketing specialist must know the product he or she is marketing inside and out to best determine how to develop a marketing strategy. The combined components of the marketing mix are often also referred to as the four Ps. The four Ps can be used to show the marketing approach taken by e-commerce giant Amazon. com Amazon …. References Colbert, F. Marketing Culture and the Arts. Quebec: Ecole des Hautes Etudes Commerciales HEC. Kindle Fire. Kindle Fire is the iPad's latest casualty. Marketing Mix Companies intending to marketing mix essay their products have to make sure that the product they intend to sell is the right one for their market niche, marketing mix essay.
The product has to be sold at the price which can make them penetrate the market and in the right place. 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. The product has to be within the reach of the intended buyers. Finally, those intended to use this…. References List Kerin, H. Marketing, the Core, 4th Edition. New York: McGraw Hill. Kotler, P. Marketing and Management. Upper Saddle Marketing mix essay, NJ: Marketing mix essay Prentice Hall.
Chauhan, marketing mix essay, V. Marketing Strategy marketing mix essay Samsung in India. Marketing Mix Frozen Food Company Japan This paper is based on a case study that involves an organic food retailer firm called, Quick Frozen food Company Japan. The company has enjoyed a formidable position in the frozen food sector, being the leader, and committed to provide top quality frozen food to its customers. In this paper, we will be focusing on the marketing mix, marketing strategy and persisting trends in the market, marketing mix essay, which has seen a tremendous growth in contemporary times due to presence of potential competitors, striving to make their mark in the ever-growing industry. Marketing Mix Product The product is currently clearly at the market introduction stage.
Marketing mix essay is because this product is new and has been brought into the market only recently. There are varieties of frozen and canned foods offered by Quick Frozen food for its customers. However, the new range that has been brought in…. Works cited Abell, D. Marketing, strategic planning, and the theory of the firm, Journal marketing mix essay Marketing,46 6: pp. In The Marketing Concept: Its Meaning to Management, marketing mix essay, New York, American Management Association, : pp. Marketing Mix In terms of a company's 'marketing mix,' 'place' refers to where the product is sold. In the case of the Nike polar pedometer 'Nikecount,' the most obvious initial 'place' to sell the product is through major retail sporting good chains such as Sports Authority and Dick's Sporting Goods.
These stores attract a wide range of consumers of different fitness levels. The Nike pedometer is likely to be most popular amongst individuals beginning a fitness program, and offering it at a general sports merchandise retailer would enable a consumer buying walking shoes and other types of fitness gear like small hand weights to carry while walking to purchase the pedometer at the same time. Of course, marketing mix essay, Nike has its own network of brand-specific stores across the nation and also offers its merchandise for sale online.
Works Marketing mix essay "Marketing mix. Marketing Mix -- Kopparberg's Cider Marketing Kopparberg's flavored cider is the product focus of this analysis. Kopparberg produces several flavors of alcoholic cider, all of which is distilled and bottled in Sweden "Kopparberg," The target market for Kopparberg cider, at least when it first entered the UK market, was the 23 to year-old crowd -- in other words, a consumer group that was no longer in college "Kopparberg," The marketing goal was to take market share away from the manufacturers of white wine, flavored alcoholic beverages FABand spirits "Kopparberg," White wine tends to be preferred by women, particularly those in their late 20s to early 30s "Kopparberg," But flavored alcoholic beverages FAB drinkers are generally in their late teens to early marketing mix essay -- the same demographic that picked up Kopparberg ciders as a favorite "Kopparberg," People who prefer to drink spirits and spirits with….
References Alcohol Marketing and Advertising: A Report to Congress. Federal Trade Commission. pdf DBR Flavored Alcoholic Beverages. The most extensively used type of promotion is advertising which can be delivered through a lot of channels like TV, radio, printed magazines, theatres, outdoor media like billboards, hoarding, posters and Point of Purchase POP. The Internet in the recent years has also become a potent media option for the marketers as also cell phone users through SMS. The particular segments of society which are marketing segments being targeted will influence the categories of media selected, as will be the cost. For a computer manufacturer, the right media will be the computer magazines through which it can target the computer users.
A sales promotion is devised to push new and repeat sales. Similarly loyalty cards, give-away gifts, running competitions and voucher schemes are the most popular. Using sponsorships and public relation exercises are employed by the companies to improve their image in the minds of consumers, marketing mix essay, especially by marketing mix essay of…. References Chulick, Ben. htm defAccessed on 15 January Kotler, Phillip, marketing mix essay. July 19, "Marketing Management" Prentice Hall.
The 'Coca-Cola' Brand and Sponsorship" Business Case Study. Accessed on 15 January Marketing Mix for a Service Company Marketing Mix Analysis for a Service Company -- Gartner Inc. The company operates in over 20 countries globally, with offices and teams of analysts and project management professionals available for implementing business process re-engineering, enterprise software and wide-scale IT deployments. The four most dominant countries include China, India, the United Kingdom and the U. Each of these countries is at varying levels of maturity in their IT requirements and needs, and as a result the marketing mix Gartner uses within each varies significantly, marketing mix essay.
The intent of this paper is to analyze the marketing mix Gartner relies on across these four geographies. Assessing Gartner's Product marketing mix essay Services Strategies Gartner's expertise in the areas IT consulting, vendor evaluations of enterprise software vendors and…. Sales force impact on B-to-B brand equity: conceptual framework and empirical test. The Journal of Product and Brand Management, 20 6 Personality and Culture Revisited: Linking Traits and Dimensions of Culture. Cross - Cultural Research, 38 1 Kim, J. A model to investigate the influence of marketing-mix efforts and corporate image on brand equity in the IT software sector. Industrial Marketing Management, 40 3 Webster, C.
Exploring the national and organizational culture mix in service firms. Academy of Marketing Science. Journal, 38 6 Marketing Mix: Promotion Promotion strategies for CABONATED SOFT DINKS and AILINE FLIGHTS Companies across all industries always seek to market and sell their products as much as possible. They always desire to have more shareholder value, more market share, and more profits. In the business world, for firms to attain such objectives, efficient and effective marketing strategies must be implemented to compete with rivals in the industry. This paper has focused on analyzing Promotion strategies for carbonated soft drinks and airline flights. The paper will refer to various companies in the respective industries.
Promotional and other marketing mix strategies are crucial aspects in the business field, marketing mix essay. esearchers have defined marketing as the social process that companies use to acquire what they want through producing and exchanging items or services…. References Baines, P. Essentials of marketing. Marketing mix essay Oxford University Press.
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Order custom essay Marketing Mix Essay with free plagiarism report. It is a process in which the company aimed to reorient all of its operations — including manufacturing, marketing and systems technology toward meeting the needs of the customers. Pederson Promotional efforts have also been much tied into with its e-commerce efforts where the company invested in web-based business to business capabilities. Implemented in through i2 Technologies, the company aimed to provide the consumers and retailers a web-enabled marketplace for procurements of goods. This essay was written by a fellow student. You can use it as an example when writing your own essay or use it as a source, but you need cite it. Explore how the human body functions as one unit in harmony in order to life.
Marketing Mix Essay. Free Essays - PhDessay. com, Sep 02, Accessed January 7, com , Sep Not only does this premium auto. Marketing Mix Marketing mix must focus on the product, pricing, promotion, and placement of item in order to make it successful. Marketing strategies must feature customer orientation, input, and accessibility. Marketing: Foundations and applications Course code: BMAN Marketing analysis of IBM 1. Your evaluation should critically. Marketers develop strategies for each of these components to facilitate mutually satisfying exchanges with a target market. Marketing Comparison of Distribution Strategies for Automobiles and Soup Distribution strategies are an essential part of the marketing mix; without a suitable strategy the process of effectively bringing together customers with the goods or services they wish to purchase maybe inefficient and a potential failure, potentially costing the firm both lost sales and incurring unnecessary expenses.
To assess the way distribution strategies may be developed in an effective manner, two different products which would require different strategies, may be assessed; automobiles and soup. The distribution strategy adopted by any firm will be the strategy of getting the goods from the firm or supplier to the customer. The commonalities in terms of considerations, and…. References Chaffy, D, , E-Business and E-Commerce Management Second edition , London, FT Prentice hall Hooley GJ; Saunders JA; Piercy, , Marketing Strategy and Competition Positioning, London, Prentice Hall Kapferer, Jean-Noel, , The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands, Kogan Page Publishers Kotler Philip; Keller Kevin, , Marketing Management, Prentice Hall.
Introduction—Case Synopsis NIVEA is brand produced and sold by Beiersdorf, a global skin and beauty care company that has been in operation for over a century. Its focus with NIVEA was to develop the brand into one of the biggest skin care brands on the planet, a core concept of global marketing Spillan, After conducting market research, Beiersdorf found a gap in the market regarding beauty products for young women aged There were no organic products available for maintaining healthy skin; products on the shelves were mainly for medicinal purposes. References Bernhardt, J. and Hall, A. Social marketing at the right place and right time with new media.
Journal of Social Marketing, 2 2 , Collis, D. Can you say what your strategy is? Harvard Business Review April , Correa, T. and De Zuniga, H. Who interacts on the Web? Computers in Human Behavior, 26 2 , Downes, L. and Mui, C. Unleashing the killer app: digital strategies for market. Harvard Business School Press, Cambridge, MA. Brand equity of trusted advisor for CM application delivery. Source: Framework based on the concepts presented in Yoo, Donthu, Lee, eferences Aaker, D. Win the brand relevance battle and then build competitor barriers. California Management eview, 54 2 , Aremu, M. Marketing mix practice as a determinant of entrepreneurial business performance. International Journal of Business and Management, 7 1 , Friedman, H. Marketing methods for software.
The Journal of Systems and Software, 7 3 , Ghose, K. Internal brand equity defines customer experience. Direct Marketing, 3 3 , D Katzmarzik, a. Product differentiation for software-as-a-service providers. Joseph, J. econciling marketing vs. branding return on investment. ochester, ochester, NY. Yoo, B. References Aaker, D. California Management Review, 54 2 , Marketing Mix in Successful usiness According to the Oxford Dictionary of usiness, marketing is defined as "the process of planning and executing the conception, pricing, promotion, and distribution of ideas, products, and services to create exchanges that will satisfy the needs of individuals and organizations.
Dictionary of usiness Marketing is a quintessential part of the business world and crucial to the success of any firm. For the purposes of this discussion we will explore the four parameters of the marketing mix. We will also investigate the various methodologies of marketing. Finally we will provide the results and conclusions drawn from the research. The Marketing Mix The marketing…. Bibliography Cross, Lisa. June, December The first question asks the author to compare and contrast the promotional strategies that are used by two different companies for a similar product within the category that has been selected. The second question asks for there to be two recommendations via which the companies can use the marketing information to differentiate itself in the marketplace so as to gain an advantage over its competitors.
There will be a rationale provided for those recommendations. The third question asks the author of this report to provide two uses for customer-oriented promotions that could assist a company in both the short- and long-term for the product group that has been selected. Fourth, there will be an analysis of the strategic manner in which a leading company in the…. References BusinessWeek. Americans Should Buy U. Cars, Period - BusinessWeek. html EERE. Clean Cities: Alternative Fuel Market Project Awards. html Hyundai. The Advantages of Advertising on the Internet. Small Business - Chron. Marketing Mix in Marketing Importance of Marketing Mix Discussing Four P's Importance of Marketing Mix in Marketing Product Price Promotion Need of Marketing Mix in a Business Need of Marketing Mix in Marketing Organizations are driven by customers who are the basic revenue generators and give the organizations an opportunity to launch the products and services.
Marketing mix is a plan that enables the organizations to convey their presence and offers to the customers. It is to attract customers so that the objective of profit maximization can be fulfilled and businesses can sustain in the market. These are the inputs launched by the marketers to attract the target market. They are commonly known as 4Ps. References Botha, J. Introduction To Marketing. Cape town: Juta and Company Ltd. Gordon, K. Marketing Research Essentials 2nd ed. Talloo, T. Business Organisation And Management For Delhi University B. Com Hons. New Delhi: Tata Mcgraw-Hill. The marketing mix has many variables that can be changed and adapted in every company, but in this process it is important to keep in mind the position the company wants on the market and its objectives.
The marketing mix planning is the process of developing long-term strategic plans that can help the company to achieve its goals. Each element in the marketing mix - product, price, promotion, and place -should be very well used in the attempt to satisfy the needs of consumers. ibliography Ford Parts n. htm Marketing mix n. htm The marketing mix n. Bibliography Ford Parts n. Marketing Mix Principles of Marketing Summer Anthony L. Hamilton Sr. Kay Green Establishing a New Business The business name will be "Bird Wise" and provides a pet-related service. It will be located in Florida with the plan to expand services to new markets in the regional area as well as to develop a national online presence. The mission statement of the company is: "To help people improve their relationship with their companion birds by providing the people the skills to reduce unwanted behaviors and increase wanted behaviors in their birds.
First, develop a professional network of referrals through vets, pet shops, bird breeders, humane societies, and bird clubs. The second objective will be to develop a web presence using direct promotion and social media. A third objective will be to generate an effective price structure for the various services…. marketing mix pubs entice gamblers? Ethical issues marketing pubs, impacts individuals, groups society a. The answers specific case situation. CASE STUDY: Drinking gambling: What core business pubs? Introduction Known slot machines world, 'pokies' a business continues grow Australia.
Setting the context The gambling industry is often associated with the large American casinos, which attract wealthy individuals from across the globe, and which are luxurious and enticing. These casinos integrate the entire gambling act in an overall greater experience of luxury and elegance. But the industry of gambling has suffered some notable changes throughout the past recent years, in the meaning that it became more accessible to the average consumer. Nowadays then, gambling occurs in corner street pubs all over Australia, normally through slot machines pokies and the phenomenon raises some notable social issues.
For instance, the people most affected by financial loses as a result of pokies are…. References: Collins, P. Gambling and the public interest. Greenwood Publishing Group. McMillen, J. Gambling cultures. Gambling is still recession proof. stm accessed on October 19, Marketing mix. Net MBA. Brooks Brothers is one of the most famous marketers of classic clothing for men and women in the world. Its generations-old name and reputation for quality distinguishes it from its more recently-arrived competitors. Unlike the classic British fashion house Burberry, it has not tried to brand itself as a more trendy fashion line for the young, and showcased streaming podcasts of its fashion shows and crowd-sourced photographs and fashion advice.
Brooks Brothers specializes in simple, clean lines and its current marketing…. References Spiffing up Brooks Brothers. Business Week. htm Werdigier, Julia, , November Burberry looks online. The New York Times. I believe that Apple's direction is positive. The company has established a strong brand name, and this will help it to succeed. Apple has distributed well, allowing for consumers to buy its products easily. Apple's marketing foundation is that the company has great products, but these products must be backed by a low-cost platform that encourages firm to enter the market.
The company's plan for growing its market base is to use specific products as a gateway into the company's philosophy. Apple benefits, for example, from having an approach then brings consumers in and then converts them to other products. The integrated suite that Apple has helps it to do this. The company excels by delivering resources to customer service that might already have been spent on maintenance. It is felt that Apple in general excels at marketing, but that there are issues it needs to address with respect to…. Works Cited: NetMBA. NetMBA Retrieved November 23, from. Marketing Proposal Safi Rania Diamond Cell Youth Booster is a new skincare product for women aged 40 years and above who are seeking to prevent and lessen signs of aging.
The paper provides a strategic marketing mix analysis that is geared towards successful marketing and advertising the product. This marketing mix analysis is to be presented to the Board of Directors of Graffiti Group, Inc. The analysis is geared towards influencing the decision of the board in an attempt to have them approve investment and marketing of this product in Canada. Upon approval, the company will market this product to target market of women aged 40 years and above, especially those who want to prevent and lessen signs of aging, under the brand name PureBeauty Diamond Cell Youth Booster. The analysis includes an overview of the product,…. They were then working together in athletic with Knight being the runner supervised by Bill. Bill saw the endless possibilities that existed within people in terms of sports potential and it was with this that they set the tone for the company in This has remained the inspiration that runs the company to date and keeps the employees of the company from one generation to the other motivated to uphold the motto of the company Nike, The company has grown from being a U.
based footwear distributor to a mega world supplier of athletic shoes, equipment and apparel whose dominance is unrivalled in the entire globe. The goal of the company is to have a legacy…. References China CSR Map, Nike Sports China Co. Marketing: How Nike Figured Out China. html Marketing Mixx, Marketing Plan for Nike. he development organizations of Microsoft and Salesforce. com are very comparable in this regard. Microsoft is like AMD specifically with their Customer Relationship Management CRM systems. hey are methodical, deliberate and will take years to eventually get all the integration with their own operating systems complete.
Yet when Microsoft fulfills its product development vision for CRM, every other Microsoft application including Microsoft Outlook, Instant Messenger and all other personal productivity applications will work directly with CRM. com, the upstart hosted applications vendor also in the CRM arena, has a much more rapid product development cycle. he philosophy at Salesforce. com is to quickly get new applications out and see what the reaction is from customers, and then quickly fine-tune the applications until they align as best as possible with customers' needs. Microsoft deliberately does its revisions internally with slow changes seen from the outside. com's mercurial approach to product development, in conjunction….
The fundamental fact of the matter is that pricing cannot sustain a business model for more than several quarters, even in the most commoditized of industries, according to research completed by Marn, Roegner, and Zawada of McKinsey and Company the Power of Pricing, Pages in McKinsey Of the many insights from the McKinsey research regarding pricing, the following lessons learned from Marn, Roegner and Zawadas' work apply to Wal-Mart's approach to loss-leader pricing also defined by Aimi and Sarnevitz With Wal-Mart driving down the price of toys as a loss-leader, these practice forces manufacturers to permanently modify their production processes to always produce toys with lower price points, as the majority of their sales are during the holidays.
it's forced on manufacturers over time due to price reductions draining their ability to increase quality. This is the essence of why loss-leader pricing strategies on the part of Wal-Mart are going to eventually drive down the ability of manufacturers to provide quality products. Eventually Wal-Mart's pricing policies will define the quality levels of toys, and this is already going to be visible as early as the holiday session now just beginning. Penetration pricing as defined by Thompson as being most beneficial when the conditions of a market being highly sensitive to low prices producing higher market growth, production and distribution costs fall as sales volume increases, and low prices serve as barrier to entry of competitors, all of which favor Wal-Mart's approach to sourcing and distribution.
In taking Thompson's definitions of pricing strategies into account relative to Wal-Mart, several key insights emerge. First, through the use of business analytics and the trial program in of significantly dropping prices, Wal-Mart discovered a high level of price elasticity in toys, and the fact that this specific type of merchandise was a great draw for holiday shoppers. Analysts have commented that Wal-Mart may have done too far with their pricing strategies according to Grant and that they have left money on the table with their extreme. Stuart Cellars is a winery located in Temecula, California. The Stuart Cellars case study illustrates some of the core concepts of the marketing mix, including product, pricing, placement, and promotion.
Developing a successful marketing management plan for Stuart Cellars requires that each of these elements of the marketing mix be synchronized and attended to regularly, with ongoing analysis and assessment. With a product as universally loved as wine, it becomes critical to set one's own brand apart from the competitors, especially in a demanding and competitive market like that in California. As profitable as the wine business can be, the product itself is dependent on several factors that may largely be outside of the vintner's control including fluctuations in climate and warehousing issues.
The product informs all other aspects of the marketing mix, including how the wine is positioned within the gamut of all its competitors but also how each…. 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 and 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 products across all of their business units.
This is the most challenging task internally for the entire company to coordinate on, specifically in the area of pharmaceuticals where Federal Drug Administration FDA guidelines and the need for compliance are very high. An analysis of each phase of the development of a new drug is shown in the following graphic from PhMA References AMR Research - Pharmaceutical and Life Sciences Industry Overview. AMR Research Alert. Monday June 5, Hussain Moorai and Roddy Martin. Credit Suisse - Johnson and Johnson Research Brief. January 24, New York, NY. January 3, Boston, MA PhRMA - Pharmaceutical Research and Manufacturers of America PhRMA Conference Proceedings.
Services Marketing Mix Assessing the Value of the Services Marketing Mix The Services Marketing Mix is comprised of people, process and physical evidence. All three of these components of the services marketing mix are critical for ensuring customer's experiences meet or exceed expectations. There is a continual conflict in many services businesses between the expectations set with customers relative to the experiences delivered. The combining of people, process, and physical evidence is crucial for experiences to meet or exceed expectations on a consistent basis.
Services create value by providing a clear indication of what they are going to deliver, and then measuring over time how effectively customers' expectations have been met or not Gronroos, avald, People, process and physical evidence are critical for the expectations and promises created in services marketing to be fulfilled and value created for the customer. Analysis of People, Process and Physical Evidence Airlines are…. References Chesbrough, H.. Bringing Open Innovation to Services. MIT Sloan Management Review 52, no. Christian Gronroos, and Annika Ravald.
Service as business logic: implications for value creation and marketing. Journal of Service Management 22, no. Hopkins, M. Matchmaking With Math: How Analytics Beats Intuition to Win Customers. Robert Johnston, and Xiangyu Kong. The customer experience: a road-map for improvement. Managing Service Quality 21, no. Place As the price differentials show, Apple must make considerable adaptations according to that which each market will bear. That being said, Israel has already proven itself a promising site for fast expansion. According to Paczkowski , "though Apple hasn't yet brought the iPhone to Israel, it's estimated that some 80, of them are in use in the country today.
That's a remarkable metric and one that suggests Apple's super-smart phone should do quite well when it officially arrives at market in Israel this week. According to Inskeep , competitors…. Works Cited: comScore. omScore Reports December U. S Mobile Subscriber Market Share. Farivar, C. iPhone Coming to United Arab Emirates and Saudi Arabia. Inskeep, S. And Now for the Lighter Side of Egypt's Revolution. Kee, E. Saudi Arabia bans iPhone and Samsung Galaxy Tab at security institutions. Adjust the Marketing Mix Customer priorities, preferences, and needs are crucial factors that have considerable impacts on the success of a product. In light of the increase in the number of mini bikes and motorcycle developers, customers' priorities, preferences, and needs include customization of products, affordability, uniqueness, and quality products.
These priorities, needs, and preferences have considerable impacts on the marketing mix because of the need to meet them. In this case, these factors are used to shape product development processes and pricing strategies for increased productivity. This implies that the firm's marketing mix process is shaped by customers' expectations and preferences. If Braaap is to offer additional products and services, evaluation of the marketing mix should be carried out. In this case, the company would need to determine the pricing of the product to ensure it's cheaper than competitors while ensuring high product quality and affordable. This process would…. References "Australian Consumer Law. Motor Vehicle Sales and Repairs: An Industry Guide to the Australian Consumer Law.
DOC "Marketing Mix -- Promotion in Four P's. Entrepreneurial Insights. price for the Zartek technology, the most appropriate approach is to start by looking at the value it is expected to create. The net income for each of the years have been provided. However, under the concept of the time value of money, income received in the future will have a lower value compared to the same amount held today. Therefore, the first stage is to look at the future net revenue streams and discount them to allow for the time value of money.
Giving a present value PV. References Armstrong, G. Marketing: An Introduction. Harlow: Pearson Education Limited. Drake, P. Foundations and Applications of the Time Value of Money. Nellis, J. Principles of the Business Economics. Harlow: Prentice Hall. MAKETING PLANNING www. uk pls make uts original Part 1: Identify a selection competitors minimum 3 competitors criteria price, quality, brand, level advertising, product range Using strategic positioning tools PLC, BCG matrix perceptual mapping, identify competitive advantage organization Part 2: Identify marketing objectives Ansoff's growth matrix Part 3: Identify a growth strategy Ansoff's growth matrix propose a short-term marketing strategy marketing mix recommendations target market.
Marketing planning Competition and competitive advantage Based on the nature of the products sold, as well as the means of targeting the customers, Innocent faces severe competition from three distinctive players: Orchard House Foods Limited Premier Foods Plc. And Wellness Foods Limited Hoovers, The competition posed by each of these entities is important, but it must also be noticed that each firm is characterized by its own strengths and weaknesses. At the level of Innocent, these are best observed through the lenses of the…. References: Bock, M. Pooler, J. As a result of huge growth, the company's management may lose focus of the scope of their business. Miller Inc. has a highly centralized hierarchy of management and lacks the managerial backup to promote creativity amons the employees.
Single-sourcing which is the characteristic of Miller Inc. could be a recipe of disaster should the supplier fail. Contingency plans for supplies need to be considered. The constrant production nature of the product leads to huge strains on personnel and machinery. Product line and client base lack diversification. While the small number of staff promotes camaraderie, unfortunately, it also impedes growth and development. is reactive rather than proactive in its marketing efforts. One way of dealing with the product is through having a continual reinvention of the product that makes sure that the consumers continue to enjoy and derive benefits from that particular product.
The other way is by extending the product life cycle. The company has managed to continually re-invent its products over the years and this has offered a great deal of help in retaining the brand visibility among majority of consumers in the world. The various Coca-cola Company products such as the Coke, Fanta, and Sprite have maintained their visibility among the consumers over the years. These products have been regularly associated with the young people and as such, the marketing strategy for these products revolves round the young people.
This has been a successful strategy since the products have remained house hold brands among many individuals. This is achieved through employing marketing activities that convince the consumers to purchase the particular product Christ, There are various available promotional strategies. The push-pull strategy deals with the manufacturer promoting the product to the retailers directly so as to ensure that they keep the goods in their stock. Their products are marketed via the different media such as the televisions, bill-boards, Social media, and so on. The company gains a lot from this strategy since the consumers who regularly see these promotional messages in the mass media become accustomed to the products and as such, develop loyalty on the products.
The brands that have managed to achieve success through this method are Coke and Fanta. Pricing is another element of marketing mix that deals with the setting of the product price. This is because of the fact that money is usually a scarce resource and as such, the available limited disposable income is allocated to the unlimited competing needs. Companies therefore ought to have a pricing strategy that does not exploit the consumers hence scaring them from purchasing the products. The Coca-cola products are sold at relative lower prices comparing to the competitors. this has been achieved through the ability to gain on the economies of scale therefore having low products cost per unit.
The strategy that the company has used in this area is through having a suggested retail price. This prevents that consumers from being exploited by the retailers and also helps maintain the confidence the consumers have on the brand. Place also forms a type of utility where the consumer needs the product being offered by the business to be in an accessible location or a convenient one Marian, This is done either through transporting the products to the areas near the consumer or carrying out production near the consumers. The boon in this is that the consumer is allowed is able to purchase the product without major logistical issues. Coca-cola Company has been able to put this element into consideration when coming up with marketing strategy. The company has expanded its tentacles to almost all the countries of the world and as such, it is able to carry out production and subsequent distribution to the consumers at their convenience.
Companies that have moved their products closer to the consumers not only enjoy brand visibility and recognition among the consumers but they also incur fewer expenses during production. The advantage of this is that the company is able to sell at lower prices and thus attract more customers who result in growth in the revenues. Coca-cola Company has set numerous bottling plants in many countries and this has greatly helped in achieving low production costs. This has also ensured that the consumers purchase these goods at their own convenience.
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