Pricing of a product depends on various variables before the product is taken to the market. In marketing people try to maximize profits which makes it very important for prices to be determined before the products are taken to various markets in the different geographical areas. The prices can also be different depending on the demand of the product being marketed and their utility. The place or the destination of the product is the third P of marketing. Marketers have to monitor and evaluate the places where the products will be more appropriate and which segmentation will ensure that their marketing strategies will be useful and worthwhile. The last P of marketing explains the promotion strategies of the product. Promotion depends on various products and the marketers expectations of the same. Some products maybe more promoted than others because human beings have a unique taste of products thus promoting a variety of products increases the chances of the products selling of faster than those that are not promoted (Sengupta, 2005). The Marketing Process The marketing processes vary from one different nation around the world to the different types of products being marketed in the same. Marketing over the years has improved from being a door to door operation to something that has expanded to internet activities occurring on a 24 hour basis. Today Nokia mobile phones are being marketed in every corner making very easy for clients to learn about the product its services and other features that make it superior to other types of phones (McDonald, 2008). Various companies including Nokia mobile phone manufactures have decided to go digital with their marketing strategy with their main aim being to maximize their sells of the products as well as be able to maintain their customers loyalty. Marketing is about giving knowledge to the world about a company’s product, like why the Nokia products are better than other phone producers, why the clients should decided on settling on Nokia product and stick with it, the benefits of the Nokia products especially the phones on the short term basis as well as the long term and where the product best fits to be used. Marketing does not necessary reflect the product profit margin, but how well the product can be identified by various people around the world and the impacts it gives to various communities. Marketing is about selling the brand to as many people possible, giving details on any changes if about the product, updating customers on prices and the nearest stores they can access the products (McDonald, 2008). Marketing is about promoting a product to gain customers trust and liking to other manufacturer’s products that produce the same kind products. The more resources a company uses to market its product the better chances the company may be able to sell their product to a larger segmentation. Market Orientation and a Brief Description of Different Orientations That Could Be Adopted Marketing orientation can be defined as companies, organizations or firms reacting to the customers’ demands and the next products they produce will be to fit majority of the customer’s specifications. The decision for market orientation is based on the customers feedback and the companies concentrates more on the customer’
Name Institution Course Instructor Date Introduction Marketing can be referred as a management procedure through which goods and services are promoted so as to ensure that customer requirements are met, and an organisation maximises its profits. This process includes the harmonization of four elements referred to as the 4P’s of marketing that could also be used to market Nokia phones around the world…
Segmentation and positioning prove significant when the product is standard and one rival product is not able to offer what another cannot. Targeting requires analysis on the income distribution of potential and mature markets to realize whether to introduce a new target market or not.
The company began to expand in 1987, when Howard Schultz became in charge (Stanley, 2002). Schultz strategy was to create a personal association between customers and coffee. A few years later, the company expanded enormously until it became the undisputed leader in the production of fine coffee.
The researcher of this essay aims to pay special attention to the requirements of a good market segment. It should be easily differentiated from others in terms of the customers’ demands. Secondly, it should easily be reachable in terms of communication as well as distribution routes. The segments should be of a considerable size to fully utilize the resources needed to sustain them.
..6 i. Geographical Segmentation………………………………………………6 ii. Demographic Segmentation………………………………………………6 iii. Psychographic and Behavioural Segmentation……………………………7 Benefits and Limitations of Market Segmentation………………………………………..7 i.
At the time of recession some companies got recovered including Retailer Faith which administrated its place in the period 2010 April. At the same time some brands like “Stylo PLC” were badly affected as were posed to deepest threats of the recession 2008.
Nike has gained much attraction among the marketing expert after its ambush marketing strategy in Atlanta-Olympics 1996. This paper starts with the simple definitions and introduction on Marketing and than moves to the strategy section, where it discuss the latest strategic moves of these companies.
people whose needs are met by the products or services to be introduced and by so doing focusing the products or services in a way that directly addresses the needs of the segment. Another instance where segmentation, targeting and position are very important is when there is
2 pages (500 words)Essay
Hire a pro to write a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Apply my DISCOUNT
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you an essay for FREE
Contact us via Live Chat, call us at +16312120006or send an email to email@example.com