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Yoplait Yogurt

Decent Essays

The aim of the marketing mix is to create a product that a certain group of people will want, and then put it on sale at a place that consumers regularly visit and stipulate a price that would guarantee satisfaction. The marketing mix consists of product, price, place and promotional strategies that a firm uses to help them reach their objectives. That might sound simple but to do all of this, major research needs to go into finding out what customers want and also where they want that product or service to be for easy consumption. Once the marketing mix is defined the company can now ask themselves if, in this case, Yoplait yogurt, meets the customer needs (product) in a place that is easily accessed with a price that is favourable to the …show more content…

It happens to be the only element in the marketing mix which generates a turnover for the organization. The remaining 3P’s are the variable cost for the organization as it costs to produce and design a product, it costs to distribute a product and it costs to promote it. Pricing tends to be difficult but it must reflect the supply and demand relationship. Pricing a product too low or two high could mean a loss of sales for the organization. Pricing should take into account many factors, a few being, target group and willingness to pay, competition and fixed and variable costs. Organizations tend to adopt a number of pricing strategies based on the objective the company has set itself to achieve. There are many pricing strategies from penetrating price, skimming price, competition pricing, product line pricing and many more. In the case of Yoplait yogurt, product line pricing is what is used. Product line pricing is when the company prices different products within the same product range at different price points. An example within the product Yoplait would be that Yoplait Original would be priced around $7-8TT (according to location) whereas Yoplait Greek would be priced between $10-11TT. The Greek is priced higher because it contains more protein and it is also thicker than the Original. The greater the benefit obtained the greater the consumer will pay. This form of price discrimination assists the …show more content…

Bundling pricing is when an organization bundles a group of products at a reduced price, this pricing is usually very popular with supermarkets.
Place:
Place in the marketing mix is where the customer will preview and buy the product. Since Yoplait yogurt is a commodity, consumers can find the product in supermarkets, small retail outlets, mini marts, pharmacies, and many other places throughout Trinidad and Tobago. Within these outlets that sell Yoplait, it is usually stocked in the dairy section.
Promotion:
Promotion is considered to be all the activities that encourage the customer to consider viewing and buying a product. Hadco uses the press, advertisement on billboards as well as actual promotions in the supermarket, mini markets, gyms or events. A promotion can usually be on any day at any time where consumers can taste samples of what they want to potentially buy and also get information on the product at that exact moment; women between the ages of 18 – 35 are usually targeted. In those types of promotions the company can achieve feedback first hand on what the customer wants or needs or does not want or need. In terms of advertisement, if someone is driving along the Churchill Roosevelt Highway – heading east – in El Socorro, there are multiple Yoplait billboards displayed back to back which allows the consumer to see

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