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Each marketing manager can use these variables in a distinctive manner as per his desire or market requirement (Kotler, 2003).
For example if Pepsi’s marketing mix is considered its product is a drink that is aimed at thirst need of humans, its pricing is quite affordable which varies with variety of SKUs (stock keeping units). Its place strategy is based on the vast distribution network that is aimed at making Pepsi available in every other store, shop and majority of restaurants. The promotional strategy that Pepsi uses consists of variety of promotional tools such as advertising, public relations, sponsorships, personal selling, and sales promotion.
Marketing environment is the environment in which any organization operates. There are variable forces inside and outside the organization that affects an organization’s performance. These factors can either be close to the organization which are referred as micro-environment factors or can be larger societal factors referred as macro-environment factors. Micro-environment includes an organization’s customers, competitors, distributors, suppliers where as the macro-environment factors include political, legal, social, technological forces that affect an organizations external operating environment.
BCG matrix tends to categorize different products either in a portfolio or product line in terms of their market share and growth. There are four classifications in BCG matrix namely stars, cash cows, dogs and question marks. Stars are the ones that have high share and high growth such as Android or You Tube. Secondly, Cash cows are the ones that have high share but lo growth such as Google. Thirdly dogs are the ones with low share and low growth such as Orkut or Diet Coke. Lastly, Question marks are those that enjoy high growth but have low share such as Google
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In today’s marketing industry it has been evidently showing that there are a lot of imitations of various brands in the market. People are thinking that buying such imitation products would give them the same prestige as that of the original one. One of the most well-renowned brands in the world today is Havaianas.
Considering the product features of Trap-Ease, women could be its best market for the mouse trap. But not just women. Martha has to segregate the group further. To target a market just because of gender lacks the specifics for targeted marketing. There are subgroups in the women market and to conclude that the best market is women because they stay at home to take care of the children missess fails to identify the actual demographic of the market.
Integrated marketing communications is a comprehensive approach to marketing and advertising that is customer centric and data driven. Within this spectrum of understanding integrated marketing communications involve the development, coordination or an organization’s advertising strategies and resources.
The importance of marketing can be well established by providing a well known example from the beverage sector of America. During the year 2010, through aggressive and clever marketing strategies, the Diet coke of Coca Cola overtook Pepsi to occupy the second spot in the US.It is important to mention as a result of marketing, Coke was able to win back in the decade old rivalry, which is more popularly referred to as the war of the Colas (Esterl, “Diet Coke Wins Battle in Cola Wars”).
Information technology has changed the world to the extent that it has become infused with life and work. Advanced technology has enabled businesses to come closer to their customers and anticipate their needs. Internet is aggressively used as a platform to enhance business and serve the customers.
—the Facebook fan page as well as the My Coke Rewards are specific evidences from the website that tells Coca Cola as a product is in the mature phase of the product life cycle.
Coca Colas emphasis is on retaining consumers and increasing consumption—as apparent in the
The roles of public relation advisor in marketing and communications industries that contribute to a marketing orientated organization are: To support the Senior Marketing Director in developing the organization’s social marketing and public relations as well as strategy plans. Those plans are aimed at building brand equity with major stakeholders via the social platforms of media.
Evo’s vision is to become a renowned global brand and market sports products to its target market throughout the world. At present, Evo is heavily dependent on the US market. The company generates merely 5 percent of its revenue from outside the United