Assessing the Marketing Strategy of Payboy Magazine

Price: Pricing decisions should take into account profit margins and probable pricing response of competitors.

In this stage company using a promotion method. They use to increase their product sales and market position. Like a they using kind of promotion method,

It will also provide the product mix for the new offering of features and benefits, branding, and any other products in line; it will show the differentiating characteristics from competitive or substitute products, packaging and

Target Markets and Marketing Segmentation 5.4. Market Trends 5.5. Pricing 5.6. Promotion 5.7. Place 5.8.

Potential or existing customers can consider product prices high, low or fair, thereby regulating the active demand for the products of the company.

Price: Sensitive to the price elasticity of its product and overall consumer demand- i.e. offering low to high prices

growth strategy has three elements. First, the Company attempts to increase sales by expanding its customer base and by increasing sales to existing customers through improved product offerings. Second, the Company seeks to generate additional sales by targeted mailings of special issues of its catalogs and by offering its products through its web site. Third, the Company is pursuing additional opportunities to expand its merchandising skills internationally.

The next phase of our growth includes growing the brand locally through additional marketing, adding additional categories and inventory to our offering, which will attract new customer profiles.

Suppose that we have a company called “Vinolia rental” that rent cars and it is facing competion. The car rental industry is considered to be in the maturity phase of the product life cycle. In the maturity phase, a firm must focus on maintaining their market share in the face of a number of diverse challenges market. Obviously, Vinolia rental must form a strategy to combat against further loss of market share.

Another form of change comes from introducing a new product line. As a result of market demands or diversification measures, changing the product line increases profit as well as market

This may include prices being cut to maintain the volume of sales or increased advertising.

Once the targeted market is clearly identified, a company is able to satisfactorily apply the four market mix

Developing innovative products without dedicated efforts to provide customers with information on their existence and functions can be considered a futile endeavor, as far as product visibility is concerned. When the product is not visible, the probability of being known by potential customers is low. This leads to poor sales and consequently low profitability. On the other hand, promotion is not always the most important aspect. Each of the 7 Ps in the marketing mix plays an imperative role in enhancing company performance and profitability. In this regard, I partly agree with the statement that promotion is the most important part of the marketing mix.

The consumers are conserned with right price and quality of the product they buy, so, when the companies ensure to give qulaity products through extension, and focus onto the continuous improvement of the product that they are offering; generally makes the extension a suucess (Hassan Ghorbani et al, 2011)

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).