Different Strategies in Marketing - Coursework Example

For branding to be successful, it must assist in promotion, by conducting adverts, and personal selling, this works like sales and marketing, they are all done by the use of the brand name. The two mentioned objectives help increase the status and prestige of the producer, and distributors to the customers and this flourishes the business.

3. Stages of the product lifecycle
Introduction Stage – a company or business comes up with ways of attracting customers either through adverts or sales and must be committed to outdoing their competitors. Growth Stage – this stage targets expansion of sales and pricing to make profits, with time, the businesses invest more money in promotional activities to increase the potential of this stage. Maturity Stage –this is the most competitive time for most products and businesses need to invest in any marketing they undertake. There is a need to consider any product modifications or improvements to the production process that might give bring a competitive advantage. Decline Stage – this stage is inevitable in any type of business and reflects shrinking due to the market becoming saturated or because the consumers are changing to different types of products, but companies may make profits by lowering their prices (Mohr, Sengupta & Slater, 2010).

4. Pricing strategies
Bundle pricing is common in supermarkets, where promotions are given, if one buys something, they are given another for free. Competition pricing Some firms offer a price service that resembles service to what their competitors are offering to beat the competition in terms of customers. Skimming pricing a company tends to reduce the price for over 5 years, charging a premium at launch and the lowest price near the end of its life cycle. Works like penetration pricing, where a price is lowered to first attract customers and then raises after the market gains stability. Penetration pricing Television Satellite Company sets a low price to get subscribers then increases the price as their customer base increases. Premium pricing applies in Harrods, first-class airline services, and Porsche; the price remains high because the product is quality.

5. An iPad and an Apple phone, when the two are compared, apple tends to have high customer demand and relation because of the key features it has always had for the last few years and it keeps on improving the services to customers apart from games, Facebook, it is giving room for Siri, where customers can communicate freely and listen to audio, mails.
6. Overhead costs do not generate revenues directly, like labor and materials, but are taken to maintain the business operations, examples are, accounting, adverts, interests, rent, repairs, office supplies, or tax. They are taken to be fixed costs and act as control; they are not linked to individuals because they occupy the largest shares and can burden a company.

7. It incorporates principles of sustainability into each of its business decisions, Apple Company when selling the phones. And number two, it supplies environmentally friendly products or services that replace demand for nongreen products and/or services Satellite Company, tends to modify its products each year before selling.
8. Customer relationship management refers to how an organization may use it to help keep track of the operations of its customers. The organization can install Dynamics CRM on a server running Windows, for employees to access and this would help meet the hardware needs, and reduce the environmental footprints, this refers to the idea of moving from one office to the other to link with customers. Instead, everything operates under one roof. This, in turn, allows the organization to reduce its costs and produce what is quality for customers (Kostojohn, Johnson & Paulen, 2011). Read More