Competitive Marketing Strategies - Coursework Example

In conclusion to the adoption of the internet ticketing strategy, travel agencies, however, must ensure it remains innovative so as to meet the ever-changing needs of the customers using the internet. Also, it will be essential for them to monitor continually how internet uses development affects consumers and competition (Paley, 2005).

M6 Discussion Topic:

Concentrating on the pricing strategies, Rolex watches employed a marketing strategy by using a premium pricing strategy. Rolex positioned its price distinctively from its competitors. The role of the pricing strategy adopted by Rolex watches was to portray its product as unique in terms of its quality and the reputable Swiss watch brand name. In contrast, Timex watches adopted a penetrating price strategy. Timex to penetrate the market resorted to having its watches priced slowly compared to its competitors like Rolex. It was meant to attract buyers and capture a share of the watch market. Both Timex and Rolex employed different pricing strategies. The difference is that Rolex highly priced its watches so as to have a distinct competitive advantage. On the other hand, Timex lowly priced its watches to raise awareness and penetrate the market.

M7Discussion Topic:

Based on the Direct Marketing Strategies, there is a possibility that the internet or electronic direct marketing may replace old direct mail options and conventional catalogs promotions. The switch is because the internet as a direct electronic marketing tool is a more direct marketing tool compared to conventional catalogs. The Internet enables consumers to be reached interactively. The rationale behind the switch to internet use as a direct marketing tool is because of its ability to communicate and carry out a promotion in a better way. Besides, the internet has proved to be less costly and enabled monitoring of the progress of promotion and marketing (Paley, 2005).

M8Discussion Topic:

There is a justification for the reason there is need to carry out a marketing audit of a unit of business even though its performance may be indeed excellent. The reason behind this approach is that a marketing audit enables a company to do well too, for example, assess its performance in comparison to its previous and current marketing activities. Besides, a company will be able to make a decision on any additional marketing strategies it can adopt and also budget for it. Lastly, marketing auditing enables accountability in marketing to be an effective measure of performance and monitoring of marketing activities (Wilson & Wilson, 2003).