MKT 500: Branding, Pricing, and Distribution

A market analysis, or market research, helps to understand the community an organization is working for, as well as come up with ideas for the future (Berkowitz, 2011). This is true for any organization, and even more important for smaller organizations, as that may not have a large amount of money to use for new ventures, services, and products. Not to mention the organization needs to determine the best plan of action for their consumers, as well as those that are not yet utilizing the services and products being offered.

Developing strategies in relation to any application of marketing suggest a marketer’s ability to comprehend and align business practices with the need of the consumer and business simultaneously. Strategies present challenges whether domestic or international markets are the emphasis. The ability to set customary prices, have market presence, encouraging advertisements and publicity, understand the competition, develop accurate communication, a complete SWOT analysis including domestic and international markets, and customizing the target market, present boundless opportunity that consumers appreciate and market recognition. At each stage of

In terms of theory, pricing strategies can be defined as businesses choosing one method to appeal to customers to purchase goods and achieve marketing mix according to the assessment of consumer demand and cost analysis (BDS Forum, 2009). For a company, pricing strategies can be made difficultly. If prices of goods are too higher, they may lose market share. If the price is two lower, the company cannot get bigger profit (Bized, 2006). Therefore, before developing a pricing strategy, the company has to consider much more factors. Such as pricing objectives which rely on production cost, barriers to entry, rate of product diffusion and so on, pricing methods including cost-plus pricing, target return pricing, value-based pricing and psychological pricing as well as other factors to make the best price for the firm and the consumer (Net MBA, 2009). Three points of views of pricing strategies can be discussed in the following in this report. Firstly, pricing strategies should

An analysis is done on how the customer perceives the company’s products in comparison to the competitors’ products. Based on this understanding and the competitors’ prices the pricing is done.

• The company designs separate pricing strategies for local markets and for global markets (Introduction to Brand Management, n.d).

E. Jerome McCarthy in the 1960s – introduced the marketing mix of Product, Price, Promotion, and Place to marketing education (Yudelson, 1999). The concept constitutes the range of incorporated decisions made in terms of marketing to ensure success for related business entities. Typically, these decisions are made in four vital areas known as the 4 Ps of marketing, that is – product, price, place, and promotion – issues like, the variety of merchandise to be marketed, brand name, pricing, advertising, publicity, geographic coverage, retailing, and distribution - are covered therein (marketing mix, 2007). With an appreciation of the term marketing mix in mind, in what follows the author endeavours to examine each component of the marketing mix and how each element contributes to the success of Walmart Store Inc.

Market analysing will allow the organisation to have a better understanding of their industry current and future market which will allow the appropriate marketing strategies to be implemented.

Organizations today have to stay vigilant and scan all environmental aspects of the economy, their finances and the business to ensure sustainability in meeting its strategic goals. These goals cumulate from leadership abilities to develop and implement sound decisions that align with strategies that promote operational efficient and effectiveness of its product or services. Therefore, developing pricing strategies sensitive to market will further provide competitive advantages within the industry, while assisting in creating maximum profitability.

When launching into this industry the new product needs to be admired by consumers, retailers and wholesalers. The advertising campaign must be able to convince merchants and retailers to stock the new brand. With the existence of Coca Cola, Pepsi and Cadbury Schweppes the new brand will have to compete for shelf space. These top competitors have already established a strong image in the customer’s mind. Merchants or retailers will acquire many risks in dedicating shelf space to the new brand. Therefore, the new brand or product must be able to provide compensation for space.

Aqua Long Life provides customers the good quality service, best quality of clean ,safe and affordable drinking water that you can experience daily on reducing your thirst. We provide good service to potential customers earning them trust and loyalty. We want customers to enjoy

The following pages contain an annotated sample marketing plan for Blue Sky Clothing. At some point in your career, you will likely be involved in writing—or at least contributing to –a marketing plan. And you’ll certainly read many marketing plans throughout your business career. Keep in mind that the plan for Blue Sky is a single example; no one format is used by all companies. Also, the Blue Sky plan has been somewhat condensed to make it easier to annotate and illustrate the most vital features. The important point to remember is that the marketing plan is a document designed to present concise, cohesive information about a company’s marketing objectives to managers, lending institutions, and others who

Market analyze is very important to get customers feedback. By gathering market data , market growth the organization will get to know about the competitors.

Chapters two and three of this book reviews the concept of advertising to consumers and strategies of a marketing plan. In addition, the chapter reviews the steps necessary to a successful marketing planning and the

Although the website allows automated ordering and delivering, there are times when customers may have questions or find difficulty ordering products on the company’s website. Customer service is important in sales volume and customer satisfaction. It is crucial that Organic Vita-Hair offers constant customer service to their current and potential customers. Two of the company’s service representatives are dedicated to these types of inquiries on a constant basis while the other two representatives are in charge of sales and order fulfillment.

How much a customer should pay for a product? Pricing strategy does not only relate to the profit margins but also helps in finding target customers. Pricing decision also helps in influencing the choice of marketing channels. Price decisions include: Pricing Strategy (Penetration pricing, Skimming pricing etc.) List Price payment period Discounts Financing Credit terms The soft drink industry today is confronted with a bewildering array of price increases. Expenditures for labour, ingredients, transportation and more are continuing to rise. The cost of aluminium alone has increased dramatically from few years.. Across our entire system however, we have been cutting overhead and re- engineering our manufacturing process in order to keep our prices competitive. It is our strategy to limit any price increases to the retail trade to the lowest possible extent providing Price of a Coca cola which is also affordable for a normal person. who can afforded. Coca cola is given to it lover at nominal rates Coca cola is available in various prices. Price of all soft drinks was probably same but Coca cola lovers wants coca cola instead of Mirinda , dew and other