...Date of Submission Introduction The marketing is an essential business tool used by marketing professionals in determining a brand’s offering. It is normally described as the four P’s of marketing; the product, price, place, and promotion. However, in some cases, the four P’s have been expanded to incorporate other elements thus making them five or seven P’s with some scholars. The four P’s of marketing will be discussed. Product Product is anything that satisfies a need or wants and can be offered in an exchange in its tangible (good) or intangible (service). The product may either generate a functional or a linking relationship with the prospect. The functional relationship refers to the value of using the product. The product’s value is crucial in the purchasing decision process. The link with the product may be defined by the complementarity between the client and the product. It is the basis of individuals’ interests in the product. If the perceived link lacks in a product, no interest may be derived in the product. The product has several dimensions such as a support system, attributes, and benefits. The support system entails features such as the sales force, advertising, warranty, delivery, promotion systems, and reputation. Attributes include features such as the ingredients, style, quality, brand, and package. There are several benefits that may be derived from a product and such entail functional, psychological, sensory, economic, and social...
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...appeal for their outlet concept. Usually displacing all their cupcakes on the display shelf to show case to consumers when they walk pass the shop. Price Twelve Cupcakes adopts Cost-Based pricing strategies. Setting cost for taking into account the expense delivering, circulating, and offering the item in addition to a reasonable rate of return for effort and risk. It is also adopted the break-even pricing to set price to break even on the costs of production, therefore marking up the price to cover up the cost price used to produce the cupcakes. One of Twelve Cupcakes price adjustment is promotional pricing. Running promotions like seasonal promotion for example leap year promotion, where you purchase 3 cupcakes and you get 1 for free. Another example is SG50, where within 50 mins the cupcakes are sold only at $0.50 each. This promotion was created specially for the country, as it was a unique way to attract more customers. Promotion Where promotion is concerned, pushing means that Twelve Cupcakes focuses on the channel members to promote. Pulling means that they promotes directly to the customers. The producer have to create a demand for the product, with which the consumer will approach channels to stock. The promotional tools that are available would be: Advertising, Sales Promotion, Personal Selling, Public Relations and Direct Marketing. Twelve Cupcakes should use Advertising to help the brand gain...
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...Snapple flourished when so many small Start--‐ ups premium fruit drinks stayed small or disappeared? The growing success of Snapple can be explained with 2 of the four principals of marketing mix. Marketing mix describes the set of tools that management can use to influence sales, in the traditional formulation: the 4Ps of marketing—product, price, place, and promotion. Analyzing the case is perceived that Snapple differentiated themselves through Place and Promotion. After they turned a marketing executive his chief for sales and marketing the company redefined its promotion strategy and expanded its distribution. Regarding Place, the merit was to keep the expansion of the current distribution model at a sustainable pace, growing consistent in the East coast and them to the rest of the country. The company has been kept simple and under the model of small distributors. About Promotion, with a limited budget, compared to the giants of the beverage industry, one of the biggest accomplishments of the new promotion strategy was the alignment of the product with the average citizen using real people and real situations, the promotion should follow the motto of the product: 100% Natural. In addition, sctions such as the spread of the history of entrepreneurship of the owners and founders, the establishment of Wendy Kaufman as a spokesmodel, the Snapple Convention and the alternative channels and radios to promote the brand reinforced and are good exemplification of this success new strategy...
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...Promotion of a Restaurant What types of promotions are “frequency-builders” and how they can be implemented? Prior to making any decisions about what promotion to run, one must first ask how well the customer is known. If a business does not understand the target audience, they will never run the most effective or efficient promotion. If the motivations of the customers are understood, it will be much easier to develop positive marketing programs which are both effective and cost efficient. If a business does not know their customers, it is time that they learn about them. Get to know what triggers their visit. Get to know what they think about the inside, the outside, the employees, and the management. Understand that the entire customer area, as well as the customer-visible areas. Items as small as table tents or table stands, successful color coordination of the seats, the window treatments, the carpet or floor covering, the wall covering, the menu covers, employee uniforms; all of these items have a subconscious effect on the customers, and can impact their decision to return. Items such as the choice of music, even items such as the temperature of the dining area and the smells coming out of the kitchen can intensify the customer experience. Having an excellent training program can be beneficial, great staff can be very effective in bringing customers back repeatedly. It is no surprise that customers return more regularly when they know the staff on a first name basis...
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...Reliance Baking Soda: Best Promotion Problem Anna Regnante, the new Domestic Brand Director for Reliance Baking Soda must determine the effectiveness of past promotional strategies in order to select a promotional strategy which will contribute towards a 10% increase in profits for 2008 before SGA, overhead, and taxes, specifically through marketing expenditures in advertising, consumer promotion, and trade promotion. Further Regnante must develop a 2008 budget P&L that will show the resulting 10% increase in profits from the marketing expenses. Situation Analysis Context Economic * Mature industry * Increasing raw material cost * Recent price increases * Low-involvement purchase * Prior to 2005, consumer promotions were not really a significant part of RBS marketing Technological * Baking soda first produced in 1846 Social/Cultural * Alternative uses for baking soda * Different types of users of baking soda * Staple product in most homes * Female heads of households generally are the purchasers * Reliance has high brand recognition (95% mentioned Reliance when asked for a baking soda brand) Competitors The main competitors for Reliance baking soda are private label brands who compromise 30% of the market and are priced 30% below RBS price. RBS had lost 5% of its market share to private label brands in the past decade. Baking soda does not have any viable substitutes or alternatives as it is a unique product...
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...Case Henkel Ibérica (A) The case tells about the big conglomerate Henkel KgaA and its challenges in highly competed business area, the fast moving consumer goods (FMCG). Henkel Spain, the Spanish subsidiary of the German company Henkel KgaA, has noticed that the skyrocketing level of sales promotions and the complexity of the laundry detergent portfolio have seriously taxed their sales, production, and distibution systems. Stock keeping units (SKU) have almost tripled in five years because of new product launches, brand variations, and special product packaging. Now Esteban Garriga, customer service director at Henkel Iberica, is questioning whether Collaborative Planning, Forecasting, and Replenishment (CPFR) would help manage retail promotions and limit their impact on the stock-outs and obsolete inventory. Many in the organization also believe that the company should abandon or cut back promotions and adopt an everyday low pricing strategy. Henkel uses special promotions, instead of straight price promotions, such as more product for the same price, specially bundled products, and coupons or free items attached to the package. These promotions are retailer-specific, therefore there is a need for a wide variations of different kind of packagings. The product offerings have become more complex and Henkel and retailers find it more difficult to develop an accurate sales forecast and demand planning systems, which lead to higher levels of obsolete and out-of stock items...
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...Reliance Baking Soda: Best Promotion Problem Anna Regnante, the new Domestic Brand Director for Reliance Baking Soda must determine the effectiveness of past promotional strategies in order to select a promotional strategy which will contribute towards a 10% increase in profits for 2008 before SGA, overhead, and taxes, specifically through marketing expenditures in advertising, consumer promotion, and trade promotion. Further Regnante must develop a 2008 budget P&L that will show the resulting 10% increase in profits from the marketing expenses. Situation Analysis Context Economic * Mature industry * Increasing raw material cost * Recent price increases * Low-involvement purchase * Prior to 2005, consumer promotions were not really a significant part of RBS marketing Technological * Baking soda first produced in 1846 Social/Cultural * Alternative uses for baking soda * Different types of users of baking soda * Staple product in most homes * Female heads of households generally are the purchasers * Reliance has high brand recognition (95% mentioned Reliance when asked for a baking soda brand) Competitors The main competitors for Reliance baking soda are private label brands who compromise 30% of the market and are priced 30% below RBS price. RBS had lost 5% of its market share to private label brands in the past decade. Baking soda does not have any viable substitutes or alternatives as it is a unique product...
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...Question 1 (a) Total Volume One of the most notable patterns of sales in regards to total sales volume is that it increases drastically when the average price of soup is low (Average price is calculated by dividing Category Volume by Category Dollars). Total sales volume had significantly increased when either Rocket Soup or competitors (or both) offer low price for promotion. In other words, soup consumption is relatively elastic to price, meaning that customers are highly sensitive to price. See below graphs showing the inverse relationship between the total volumes sold and average price of soups. Category Volume sold in Week 1 to 40 Average Soup Price in Week 1 to 40 (b) Total Spending Sales pattern in terms of total spending follows the pattern observed in total volume section. One notable difference is that the total spending per week is relatively more concentrated closer to the average total spending in 40 weeks (5,263), meaning it is not as elastic as the volume. It means that customers may purchase more soups when the price is lower, but does not dramatically increase their total spending, even if the price is very low. It can also be observed that the total spending (or revenue) does increase when the total volume sold are relatively larger, with the exception of week 12, where Rocket Soup charged unbelievably low price (0.04). (c) Competition Another notable pattern is that the sales volume of Rocket Soup is significantly affected by competitors’...
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...product, price, place and promotion and collectively they are referred to as the 4 P’s. The 4 P’s are very much the foundation of marketing in in this essay I will define each of the 4 P’s and discuss their roles within the marketing mix of the petrol retail environment. This essay will then conclude with a review of the 4P’s, their relevance within the marketing mix and their overall significance within the retail petrol environment. PRODUCT Product can be defined as what is exchanged in a sale with the customer, whether that is a good, service, idea people or places. Within the retail petrol environment there are countless products, the majority of which are non-durable goods such as the core product of the outlet, fuel, and all the convenience products such as the food, drinks and entertainment products (magazines etc). Many retail petrol outlets have become stores within a store, where there is the main store that sells the petrol and convenience products, and a second store that is a fast food outlet. These stores within a store add to the appeal of outlet, customers understand that they have a greater choice and subsequently a greater chance that their needs can be satisfied. Jerath and Zhang commented that “the introduction of new products through stores within a store can bring new customers to the store who want to purchase the focal product and also purchase other products” (Jerath and Zhang, 2010, pg 756). PRICE PLACE PROMOTION...
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...Using aims and objectives to create a business strategy Using aims and objectives to create a business strategy Introduction Kellogg is the world's leading supplier of breakfast cereal with 39 brands and a 42% share of the UK market. Kellogg's success is achieved through the use of a carefully planned strategy. It sets clear aims and objectives and uses the strength of its brands to help it reach them. Kellogg manages its brands to ensure that each has a unique position in the minds of its customers. This is called product positioning. Kellogg has developed a range of products for the various segments of the UK's £1.1 billion cereals market. Developing aims Kellogg's managers realise that its aim needs to match the expectations of its consumers. Consumers, backed by research and publicity, increasingly want to lead a healthier lifestyle. Kellogg wanted to be part of this debate and to promote the message 'Get the Balance Right'. It also wanted to show that it was a responsible organisation. This idea of corporate responsibility was also built into planning. Its aim – the broad statement of where it wanted to be – was therefore to reinforce the idea of a balanced, healthy lifestyle. Objectives Once a broad aim is set, managers then set specific objectives that can be measured. Objectives need to be SMART, i.e. specific, measurable, achievable, realistic and time related. Objectives were set in three main areas: * encouraging and promoting physical activity for health...
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...Task 4 Jasmine Tucker Promotional activities Suitability of the promotional methods- Although I have came up with four different methods of promotion I will have to analyse the suitability of each of the methods. I will have to see if the budget that TOPSHOP currently have will be enough in order to be able to afford to use these methods, I will need to ensure that these methods would work within the town and I will also need to ensure that each of them would work within the business. Method 1- Newspaper article. As you can see below I have created a newspaper article that I would like to show in The Bucks Herald, one of the most popular local pages. The reason In Adv- primary research shows that majority of pregnant people read newapaper Adv- The bucks herald is a local newspaper with … readers and whole range will be shown Disad- Even though pregnant people read newspaper it would not be for sure they would see article Disadv- article is quite small and therefore customers would not be able to Cost- Metod 2- Merchandising Explination Adv- whole range will be shown Adv- by having in shop window pregnant people will become aware Disadv- hiring a merchandiser is quite expensive Disadv- if maternity id on mannequins for 6 weeks the other ranges wont be shown and may stop selling as well Cost Method 3-Competition Explination Adv- interactive...
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...CiTylinK Promotion General Terms and Conditions CiTylinK Promotion General Terms and Conditions These Promotion general terms and conditions apply to each and every Promotion. In addition, all instructions, rules and conditions relating to a specific Promotion form part of these general Promotion terms and conditions but in the event of conflict these provisions shall prevail. Standard CiTylinK Terms and Conditions (including Terms and Conditions for Passengers and Baggage, Carrier’s Regulations and Privacy Policy) apply (please visit www.flycitylink.com for full details). In the event of any conflict Standard flycitylink.com Terms and Conditions shall prevail over these provisions. CiTylinK reserves the right to change the terms and conditions of its Promotions (and any Standard CiTylinK Terms and Conditions) at its discretion. Promotion A Promotion is an entitlement to a Discount (up to the amount stated) off a qualifying booking, including airfare, taxes and charges. A Promotion is valid on the CiTylinK website, at all CiTylinK sales outlets and all ticketing agencies as well as for corporate clients who operate their own ticketing accounts with CiTylinK. A Promotion is subject to availability and is not an indication of availability. In particular, CiTylinK reserves the right to cancel a Promotion. A Promotion is not an entitlement to make a specific booking or to travel on a specific date or via a specific route. Redeeming Promotion A Promotion can only be...
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...Walking into work that Monday morning my stomach was in knots. I was about to find out if all of my hard work and dedication to the company will be nothing but a waste. This is the day we learned that the company will be laying off 25 workers. I have worked for Sams Club for six years now. About a year and a half into my career at Sams I was given a promotion. I was offered a job working in the claims/receiving department. This may not seem like a huge promotion to most, however in a retail situation it is. I not only received a major pay jump but I also was guaranteed a Monday thru Friday, early morning shift. I feel like everyday that I am at work I challenge myself to not only learn more about the company, but to also to help any other department that I can. Although I love my job, it is very routine. Every morning we have what is called a “ten minute win”. This is basically a ten minute meeting with at least one person from every department. Typically these meetings are “all the same” as most employees will tell you. However, there is one meeting that I will never forget. This meeting was held on a Monday morning and everyone in the club was told specifically to attend. When I got to the meeting room everyone was silent. James, the general manager of the store, started to talk. He went on about how sales were down and about how bad the economy was getting. James also talked about how diligently the company was working on ways to boost sales, however...
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...Running head: UNIT 3 ASSIGNMENT MT450: Marketing Management Tim Byington Haas Chiropractic Clinic Haas Chiropractic Clinic and the services that they provide is the chosen subject for this paper. The four P’s will be discussed and how they relate to Haas Chiropractic Clinic. They include product (service), place (distribution), promotion and price. The first of the four P’s is product or service. According to the text the product includes “not only the physical unit but also its package, warranty, after-sale service, brand name, company image, value, and many other factors (Winer & Dhar, 2011).” For Haas Chiropractic Clinic this includes the many services they offer, their image as a clinic that is always giving back to the community and the value of their services. At the clinic there are several services that are offered. Obviously, this includes chiropractic care such as adjustments, spinal decompression, Graston and corrective care. They also offer corrective exercises, lifestyle advice, nutritional counseling. The physiological therapeutic procedures include interferential electrical muscle stimulation, ultrasound and mechanical traction (www.haaswellness.com). Haas is constantly finding new ways and continuing to give back to the community. They do this is several way several. One is to have fundraisers for things such as school supplies and coats for kids. This last fall they raise $2500 worth of school supplies. As of now, they...
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...Explain the role of promotion for Tesco The role of promotion for any business is important because they need make their product/services aware to everyone. Tesco’s methods using in achieving these affects may vary, depending on their goals, markets and industries. Tesco’s promotions include advertising, sales promotions, sponsorships and other strategies. Tesco’s need to make sure that when promoting products/services they target the correct consumers those who are more likely to buy their product. Increase brand awareness Above the line promotions like television, radio and newspapers help business increase brand awareness. This is because these types of promotions target many people, for example in the UK 84% of the population read the national newspapers. If a brand is seen by people on a regular basis then it will stick in their minds and consumers will know more about the product. When Tesco are selling a new product/service then they will be reaching out to a new market they have to explain to customers what they are offering. Brand awareness can be measured by market, regionally or nationally. It takes a lot of time for businesses to build their brand awareness levels that match established competitors. During special occasions like Christmas and Easter their advertising increases as people tend to buy more during these festive periods so they more they advertise their products the more they will sell. This will increase brand awareness because if they are advertising...
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