Table of Contents
1.0 Situation Analysis/Current Marketing Mix
1.1 Current Product……………………………………………………………….... 1
1.2 Current Pricing………………………………………………………………..... 2
1.3 Current Distribution…………………………………………………………..... 3
1.4 Current Promotion……………………………………………………………... 4
2.0 Brand Positioning Theory
2.1 Definition of brand positioning …………………………………………………5
2.2 Brand positioning in relation to the brand/product……………………………...5
3.0 Target Market Identification
3.1 Geographic Segmentation……………………………………………………… 6
3.2 Demographic Segmentation…………………………………………………..... 6
3.3 Psychographic Segmentation……………………………………………………7
3.4 Behavioral Segmentation……………………………………………………..... 7
4.0 Reference
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The current price is usually about the same as the competitors by setting the price not lower or higher than their opponents offer price so that the consumers would see the less difference in price and purchase from the shop that they would like it buy from.
Some consumers purchase the product based on the pricing and some based on the product image, features and quality. The behaviors of consumers are based on many different purposes such as individual, emotional, communal and situational and when they purchase more often they become loyal customers. Most of the female consumers do not really care about the price of the product but what they mainly focus on is the luxury brand that will offer more individuality, rank and hedonic value than non-luxury trademarks so those types of buyers are willing to pay at any amount to get the product that they want. On the other hand, there are some people who will only buy the creation if the product has high quality, unique features and presentable image because those types of consumers believe that the price that they pay should be worth giving for it.
1.3 Current Distribution
Shoppers cannot purchase the produce straightforwardly from the industry that create it because on their official website they do not sell products but they only distribute their products to stores located in many different countries and cities which allows the buyers to have more chances of buying their product from stores near their
market, there is price competition. This can lead to price wars and, therefore, lower prices for
I also agree with you in how you stated that the products price and value tie into one another especially when consumers are trying to determine what would essentially be the best option that meets their criteria of value. Likewise, it is important for companies to find significant and unique methods in which to make their product stand out and be the option of choice. Consumers want a product that is highly regarded but that also qualifies with price. They want to know that what they are paying for is of high standards and quality and worthy of the money being spent. Therefore, they look into every possible option to determine if the product meets brand loyalty and has the appeal to be different from their competitors items. You are
The Australian bottled water industry has been growing rapidly over the past decade. Many Australians drink bottled water on a regular basis, and on average consumed 21.2 litres per person (Australian Bureau of Statistics) in 2001. The boom in consumption of bottled water has moved the product beyond the niche market and into the mainstream as it has become a staple to many Australians. Many people drink bottled water today simply because they prefer the taste to that of tap water or perceive it to have more purity. Other reasons behind the explosion in bottled water consumption are: consumers' passion for fitness which guides them to fewer caloric beverages; increased accessibility of bottled water via convenience stores,
This is because of each seller is setting its price based upon the reaction by the prices its competitor establishes.
Price is an important factor in Burberry as price affects the value that costumers perceive they get from buying a product (Jobber & Ellis-Chadwick, 2012). Burberry uses competitive pricing similar to its competitors which produces a psychological effect on Burberry customers (Jacobson, n.d). If Burberry for example lowered its price dramatically then customers may believe the quality has decreased and may presume it’s not worthy to be named a luxury brand. However by being expensive it suggest better quality and desire to sustain its customers as well as making there products seem exclusive.
Competition within the industry as well as market supply and demand conditions set the price of products sold.
Generally a firm set “prices to attract new customers or profitably retain existing ones”(300). A firm could set prices low so that competition cannot enter the market or set prices at competitor’s level to keep the market constant. In the Trader’s Joe example, all of their prices are exceptionally low for high priced things even Trader Joe’s products can’t even be found anywhere else. This helps to eliminate competitors in an extraordinary
Another misconception that many people hold lies in what happens to bottles of water once they are “recycled”. People believe that once they send a plastic bottle on its way to be recycled, it will be converted into a new, usable, recyclable container. Generally speaking, this is not the case. The majority of recycled plastic gets a new life as something non-recyclable, such as plastic lumber or parking lot bumpers. This does not amount to as high a rate of waste reduction as one would hope for.
The price comes from how much the product should sell for. In considering prices, the organization should consider the "product, customers, competitiveness, and quality."(Purdue, 2007)
there are a number of different buyers and sellers in the marketplace. This means that we have competition in the market, which allows price to change in response to changes in supply and demand. Furthermore, for almost every product there are substitutes, so if one product becomes too expensive, a buyer can choose a cheaper substitute instead. In a market with many buyers and sellers, both the consumer and the supplier have equal ability to influence price.
The big retail stores have the advantage of making the highest possible margin as they buy in bulk from the suppliers and hence they can afford to play with their prices.
Competition within the industry as well as market supply and demand conditions set the price of products sold.
Briefly describe the pricing structure that is used with this product and explain the benefits of this method.
According to Blythe (2010), segmentation, targeting and positioning are fundamental to the concept of meeting customer need. This essay will outline and analyse these fundamental tools of marketing in an academic setting, in addition to, assessing how an organisation of my choice applies them in a working environment. Included in this essay, will be an academic discussion of the advantages of market segmentation, targeting and positioning drawing upon views of various scholars. Furthermore, I will provide a profile of my chosen organisation as well as an assessment of their market segmentation, targeting and positioning strategies. The essay will finish with a summary of the main points and will draw conclusions based on the evidence which has been presented.
* Who are the main Stakeholders of beverage companies such as Coca cola and nestle in this case? How would you prioritize their stake and how legitimate are the different stakes?