...BRANDING, PRICING, AND DISTRIBUTION Marketing Management - MKT 500 Create the domestic and global product branding strategy. Branding and personalizing products attract the consumer’s attention and entices them to make purchases. Marketers use logos, colors, and shapes to create an image in the consumers mind to help them to remember the product, its maker, and origin. “Branding is more than a name; it is s a selection of qualities associated with the name” (Iacobucci, 2012). When it comes to one’s product, one must consider a branding strategy that will create a niche in the market place. Branding strategies are critical to a company because the niche it establishes the company’s image, fosters a competitive advantage, and develop sales. AW Interior Design will use the umbrella branding strategy to create the domestic and global product. According to Iacobucci (2012), the umbrella strategy “attaches the same brand name to all of its products (p. 70).” This strategy will to help showcase the touch screen control panel strictly under AW Interior Design’s, the brand name for the Virtual Angela System, the new product. Offering the Virtual Angela System by AW Interior Design uses name recognition to start with a higher-level of public perception, streamline advertising, reduce costs, and build greater financial outcomes positioning the product for greater competition in the market place domestically and globally (Iacobucci, 2012, pp. 70-71). This approach is similar...
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...Proposal: 1.1 An Evaluation of the Effectiveness of Distribution Strategies on customer satisfaction: A case of Delta Beverages in Gweru 1.2 Back ground to the study Delta Beverages is a monopolistic producer of lagers in Zimbabwe. Though it has some competition from other liquor companies, the author is going to concentrate on Gweru as the area of research on customer dissatisfaction on distribution. According to Oxford Dictionary,’ distribution is the transport and supply of goods to various people or places’. Therefore distribution is a marketing activity aimed at taking manufactured goods close to customers. There is direct and indirect distribution. Delta Beverages uses indirect distribution. According to htt.www.com distribution (or place) is the fourth traditional element of the marketing mix. The other three are Product, Price and Promotion. Most businesses use third parties or intermediaries to bring their products to the market. They try to forge a “distribution channel” which can be defined as “all the organizations through which a product must pass between its point of production and consumption” Delta Beverages is no exception as it also heavily relies on stockists and retailers for its products to rich the consumer at a place convenient to him/her. Giving the job of selling products to intermediaries reduces the costs of distribution. Also these distribution channels are specialists in selling. They have the contacts...
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...difference between a push marketing strategy and a pull marketing strategy? Explain how each of these strategies work. Student Answer: A push marketing strategy is where the manufacturer uses its sales force and trade promotion money to convince the intermediaries to carry, promote, and sell the product to end users. A push strategy works when a manufacturer negotiates with a retailer to stock their product, directs selling to customers in showrooms or face to face, ensuring there is efficient supply chain allowing retailers an efficient supply. A pull strategy involves motivating customers to seek out your product through intermediaries by advertising promotions, and other forms of communication. A pull strategy works when there is a high devotion of the brand, and high involvement in that category, when consumers are able to see differences between brands and when they choose brands before they go to the store. (Marketing Management 13th Edition. Pearson Learning Solutions pg 41) Comments: 2. Question : (TCOs E, I) Describe channel conflict and provide an example. Student Answer: Channel conflict is a situation where one channel member acts in a way that prevents other channel member to reach the customer. An example is when one channel member sales through the internet at the same time maintaining a physical distribution network. The other channel member will loose customers who will opt for distribution through the...
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...functions. The process of distribution of goods involves all human and physical means which aid the smooth transfer of such good from the manufacturer to the final consumer. Nickeil (1998) The growing of distribution is a key strategy variable in marketing management. In deed, if one look at the major strategy of the marketing mix – product, price, promotion and distribution, the greatest potential for achieving a competitive advantage now lines in distribution. Distribution still offers a new frontier for competing usefully especially if the emphasis is placed on the design and management of superior marketing channel systems to provide excellent customer services. Yet design optimal marketing channel system to boost sales, formulating innovative distribution strategies and management channels system effectively is no simple task. To day, companies are faced with choice of distribution path or strategy that will make product readily available to potential customers. Achumba (1994). Also the need for other institutions or intermediaries in the delivery of good is sometime questioned, particularly since the profits they make are viewed as adding to the cost of product which may eventually slow down sales of the product. The concept of distribution refers to where and how product and services to be offered for sale and all essential mechanism and logistical supports for the transfer of goods and services as well as ownership of goods and services to customer. Stern et al (2006). This...
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...Pricing Strategy and Channel Distribution Marketing Management – MKT 500 February 15, 2012 Pricing Strategy and Channel Distribution Determine and discuss a pricing strategy (Skimming and Penetration). One of the four major elements of the marketing mix is price. Pricing is very important strategic element. The pricing strategies impinge on featuring products, channel decisions, and promotions. This strategy helps marketers set prices. (Pride, Hughes, & Kapoor, 2011) There are many ways to price a product. Two commonly known pricing strategies are skimming and penetration. Lavishness Hair Studio is likely to use one or both of them over a calculated period of time. Price skimming involves charging the highest price possible for a short time where a new, innovative, or much-improved product is launched onto a market. The objective with skimming is to “skim the cream” off customers who are willing to pay more to have the product sooner. Prices are usually lowered once demand falls. Penetration pricing is the opposite; it involves the setting of lower, rather than higher price for a new product. The seller wants to discourage competitors from entering the market by building a large market share quickly. The plan is to raise prices as soon as the introductory offer is over (Pride, Hughes, & Kapoor, 2011). Lavishness Hair Studio will use price penetration during the initial opening phase of the business. Penetration pricing is the strategy of entering...
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...implementation of a distribution strategy without the coordination of other components of the marketing mix tends to produce a strategy without harmony. A disjointed marketing strategy will not reach the success levels that were expected. Organizations have come to realise the impact of distribution management as a source of competitive advantage with companies like Delta, Lobels and Bakers Inn employing distribution managers and personnel. This is because it has become more difficult to find a unique source of competitive advantage in an era where it is easy to copy strategies and products. Marketing managers are now looking to coordinate the promotion strategy with the distribution strategy, specifically push or pull strategy in relation to distribution strategies that include, intensive, selective or exclusive. Now the combination of these strategies is most important in an environment where the retailer and other relevant intermediaries are faced with so many product options to stock on their floor space. It then becomes apparent that the marketing manger that is able to gain the best and most floor space using one strategy, and persuade end customers to seek out and purchase the organization’s products in another strategy, becomes successful in gaining market share and meeting their objectives. This paper will define distribution management and its components. It will look at the impact of the Bullwhip Effect or the Forrester Effect, the push and pull strategies and the convergence...
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... 2.2 Propose segmentation criteria for the products 4 2.3 Targeting Strategy for products 5 2.4 Impact of buyers behavior on marketing actvities 5 2.5 New positioning for the product or service 6 TASK 3 6 3.1 Development of prodcuts to sustain competitive advantage 6 3.2 Explaining how disribution is arranged to provide customer convience 8 3.3 Explain how prices are set to reflect an organisation’s objectives and market conditions 9 3.4 Integration of promotional actvity to achive marketing objectives 9 3.5 Additional elements of the extended marketing mix 10 TASK 4 10 4.1 Marketing mixes for two different segments in consumer markets 10 4.2 Differences in marketing products and services to businesses rather than consumers 10 4.3 International marketing differs from domestic marketing 11 CONCLUSION 11 REFERENCES 12 List of tables Table 1: Market Segmentation 4 Table 2 : Questionnaire for Tesco service 5 list of figures Figure 1: Elements of Marketing Process for Tesco 1 Figure 2 : Environmental Factors affecting Tesco 3 Figure 3 : Classification of Products 7 Figure 4: Distribution channel of intermediaries 8 INTRODUCTION The heart of success of the business lies in the marketing and most of the business aspects depend on successful marketing. Many firms use a variety of marketing principles in order to maintain the sales of existing products and effectively launch the new product in the market. Attributed from this, the main...
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...of the pricing strategy that Toyota will use when establishing product prices. The report further gives a detailed explanation of two distribution channels that Toyota will use to supply products to customers. These channels include the dealership and retail channel. Toyota will also use a promotional strategy that will use various components of the marketing mix: Advertising, public relations, personal selling and sales promotions. The marketing implementation plan of Toyota covers various concepts, which include, structural issues and tactical marketing activities. The final part of the marketing plan is an evaluation and controls. It covers formal and informal controls, marketing implementation schedule and an explanation of a market audit. Pricing Strategy The pricing strategy that the Toyota company applies should fit the financial preferences of their target emerging markets such as the Asian countries and other potential international markets. The pricing objectives of the company will be: * To increase the profit margin by 50% in the next one 12 months * To increase sales volumes by 20% in the next two years Toyota will apply various pricing methods, in order to achieve the above pricing objectives. According to Shefer (2007), marketing managers use various pricing methods to achieve their pricing objectives. Besides using the price methods, they may also design innovative pricing methods that fit the needs of both the organization and customers. Some of the most...
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...Daewoo was the second Korea’s bigger car maker and the 33rd largest business group and also has an aggressive plan for expansion and globalization. The pre-launched was stated the Daewoo presence and the market strategy in controlling the distribution chain by dealing direct customers. Daewoo’s market position was based on an innovative packaging of benefits and services around the car, a totally new approach to distribution, and the customer’s purchasing experience, and an emphasis on customer service. For evidence, Daewoo achieved 0.9 percent share of UK new car market by selling 10,000 vehicles within six month. The competitiveness in UK market car was fiercely challenging. According to the market research by Daewoo, motorist found that traditional motor dealers were not making customers feel welcome. The researches also found that one third of buyers were women. This market opportunity was used by Daewoo in implementing the marketing strategies that would be based on customer service and customer’s term, delivering by direct selling, and highly advertising in building the image of value and customer service. Daewoo was creating a sensational market strategy in getting brand awareness of the market. In its strategy, Daewoo was involving the product strategy by including such three years fee servicing,...
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...||AbstractThe company chosen and used for this paper is a mobile transport company that caters specifically to senior citizens. This particular paper will explain in detail domestic and global product branding strategy, optimum pricing strategy and a distribution channel analysis that identifies the wholesaler, distributor, and retailer relationships including e-Commerce. Discussions within the paper will also include the use of a push or pull strategy, a distribution channel analysis and supporting references.Domestic and Global BrandingA brand is the likeness, idea or image of a specific product or service that buyers connect with, by identifying the name, logo, slogan, or design of the entity that owns the idea or image. When the idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product, it is then considered branding. Advertising professionals work on branding not only to build brand recognition, but also to build good reputations and a set of principles to which the company should strive to maintain or exceed. Branding is an important part of Internet commerce because it companies to build their reputations as well as expand beyond the original product and service, and add to the revenue generated by the original brand ("What is branding," 2012). The branding of this company will be specifically related to the transportation needs of the elderly...
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...Q:How companies identify attractive market segments and choose a market targeting strategy? References Harvard Business School Case Study: Going to Market, Ref. 9-599-078 Harvard Business School Case Study: Note on Marketing Strategy, Ref. 9-598-061 http://www.netmba.com/marketing/situation/ -5Cs analysis Principles of Marketing by P. Kotler & G. Armstrong East Magazine (HK) Executive Summary To define a competitive market segment for targeted marketing strategy, it is required to identify the core competitiveness of the Firm, in relation to the existing competitors in the market. To identify suitable segment by 5Cs Analysis 1. Customers 2. Firm’s Competitive Advantages 3. Competitors’ Edges 4. Collaborators 5. Market Context in Segmentation. To judge the targeted segment before committing to a strategy with reference to four critical factors; 1. The Source of Demand Generation; 2. Demand Fulfillment; 3. After Sales Services; and, 4. Information/Market Feedback for Strategy Development. Finally, the nature of product or services for distribution, are there any competitive advantages in either or partial perspectives by creating value; 1. Exclusive Distribution Exclusive distribution usually can be seen in retailing market, especially for the high-end products or high-priced products e.g. Cars, Jewelry. The most advantage is marketer can enjoy lack of competitors in the same marketplace. However, the retailer need...
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...when a customer order a book from Amazon. A. Identify the push/pull boundary & two process each in the push & pull Process? Answer : In Amazon’s original operations design the push/pull boundary existed betwixt the retailer (Amazon) and their distributor. Amazon ordered product from the distributor and the customer order arrived. Today, Amazon has six warehouses where it stocks an inventory of items it is confident that will sell. In this scenario, the push/pull boundary exists between the customer and the retailer. All supply chain processes can be broken down into four process cycles that connect the five stages of the supply chain; the customer order cycle, the replenishment cycle, the manufacturing cycle, and the procurement cycle. The customer order cycle connects the customer with the retailer; this connection is made as the book, perhaps Supply Chain Management, is selected and paid for by the customer. Processes in the pull phase are the order fulfillment, shipping, customer returns, and customer billing. Processes in the push phase are production, stock replenishments, shipping, and payment. B. How do you characterize the competitive strategy of high end dept. store chain Such as Nordstrom? What are the key customer needs that Nordstrom aims to Fill? Answer For a high-end department store such as Nordstrom, Nordstrom targets upper-end customers with high responsiveness requirements. These customers are willing...
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...mousetrap. Then they will come.” — King C. Gillette Gillette Razors O verview: Marketing is the process of planning and executing a strategy to get goods and services to customers. The components of marketing can be described as the “four P’s” or the marketing mix. Product consists of the products and services that your social enterprise furnishes; it is characterized by quality, assortment, packaging, and guarantees. Price is the amount you will charge customers for the products or services. Promotion is how you will create awareness of your products or services in the marketplace; advertising, publicity, and sales are aspects of promotion. Place (distribution) is how you will bring your products or services to your customers; distriMarketing Synergies bution comprises wholesalers, retailers, multilevel marketers, and “The most effective and efficient marketing plans are sales representatives. The marthose that maximize the synergy between products, distriketing mix is a set of tools and bution channels, price, and promotion. A unified promotechniques social enterprises use tional strategy across an entire product line saves money to achieve their marketing objec- and presents a consistent image of the enterprise in the tives in their target market. Your consumer’s mind. From a selection of complementary marketing plan will emphasize cer- products, significant economies of scale in raw materials tain “P’s” in its mix more than oth- and...
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...channel design decision paradigm. This report suggested alternate channel strategies and evaluated each. It also gives some added recommendations from the Marketing Department. Our researches suggest that the best channel design structure follow is Vertical Channel Structure and Multi Channel Structure. Thank you for choosing out marketing team to complete the research. We enjoyed the opportunity that we received from your business. Please do not hesitate to ask any of your concern or questions. Regards, Thi Nguyen Marketing Consultant Prepared For: Charles Tiffany Company: Tiffany & Co. Date Submitted: 11 – 10 – 2013 Student Name: Thi Nguyen Student Number: U1004604 EXECUTIVE SUMMARY This report has been authorized by Mr. Charles Tiffany from “Tiffany & Co”. The report was commissioned to outline the most effective channel structure for Tiffany & Co. Analysis, study and make recommendations to change to the channel design chose for the company. The finding indicated that a number of changes should occur if Tiffany & Co. wants a more effective and efficient distribution channel. The improvement that need to be made range from setting and coordinating distribution objectives, some distribution objectives given included more designs in seasonality changes, increase online sales, enhance customer awareness but indulging marketing activities, discounts for loyalty customers and expand its global...
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...Table of Contents Executive Summary 2 Introduction 3 I. Alternative strategies to achieve goal and objectives of the Apple 4 1. Evaluation according to the methods of growth. 4 2. Evaluating the strategies according to market- product strategies. 6 3. Evaluation the strategies according to the diversification 8 4. Evaluation the strategies according to the potential risks. 9 5. Evaluation according to the benefits and costs of the strategies. 11 II. Selection the strategy 12 1. The advantage and disadvantages of the strategies. 12 2. Suitability, feasibility and acceptability to stakeholders of the strategies 14 3. Ranking and scoring the strategy. 16 III. Compare the roles and responsibilities for strategy 20 IV. Identify and evaluate resource requirements to implement a new strategy for Apple Inc. 24 V. Propose targets and timescales for achievement in Apple Inc. to monitor a given strategy 28 Conclusion 36 Reference 36 Executive Summary Business Strategy is a subject to develop the learner’s ability to evaluate and select strategies appropriate to business organizations. This will involve an analysis of the impacts of the external operating environment and the need to plan organization strategies to ensure effective business performance. (Business Strategy course book, BPP professional education, 2004). The report is to address the following areas: This is a continuation of your previously prepared report for Assignment 1-Strategic plan...
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