Marketing Mixmarketing Mix Essay Example for Free

Marketing Mixmarketing Mix establish1. Marketing Research A new crossroad strategy will ultimately need to be tested through focus groups, phone surveys and beta tests. Focus groups are sessions where company managers observe consumers through a one-way mirror. A moderator or interviewer will ask the consumers questions related to the companys product concept, including their likes, dislikes and suggestions for the product. This information is usually evaluated later to help tweak the product concept. After focus groups, companies hold phone surveys to stimulate a more reliable sample about the markets reaction to the product. 2. Product Positioning Product positioning is a best practice strategy used for both new and existing products. Small companies typically use a grid when developing a product positioning matrix.The objective of product positioning is to chequer which segment of the market to place a product. Companies often use two important product variables in a product positioning matrix. For hot cereal, these variables may include worth and time to cook. The product value can be confused or high, and the time to cook the cereal can be abate or quick. Consequently, segments for hot cereal may be low scathe/quick to cook, low price/slow to cook, high price/quick to cook or high price/slow to cook. A small company will usually plot its existing products as well as competitive products within the various segments. The segment with the least amount of plotting points may indicate an opportunity for the company, as that particular segment is under-served.Place of Distribution StrategiesDepending on the type of product being distributed there are three common distribution strategies available 1. Intensive distribution Used commonly to distribute low priced or impulse purchase products eg chocolates, soft drinks. 2. Exclusive distribution Involves limiting distribution to a single outlet. The product is usually highly priced, and requires the intermediary to place much detail in its sell. An example of would be the cut-rate sale of vehicles through exclusive dealers. 3. Selective Distribution A small number of retail outlets are chosen to distribute the product. Selective distribution is common with products such as computers, televisions household appliances, where consumers are willing to snoop around and where manufacturers want a biggish geographical spread.Pricing Strategies1. Penetration pricing Here the brass instrument sets a low price to increase sales and market share. Once market share has been captured the blotto may well then increase their price. A television satellite company sets a low price to get subscribers then increases the price as their customer base increases. 2. Skimming pricing The nerve sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer. A games console company redu ces the price of their console over 5 years, charging a premium at launch and lowest price earnest the end of its life cycle. 3. Competition pricing Setting a price in comparison with competitors. truly a firm has three options and these are to price lower, price the same or price higher. whatever firms offer a price matching service to match what their competitors are offering.Promotion Strategies1. Public traffic Involves developing positive relationships with the organization media public. The art of good public relations is not only to obtain favorable publicity within the media, but it is also involves being able to handle successfully banish attention. 2. Internet Marketing Promoting and selling your services online using various forms of online marketing techniques such as pennon advertisements, videos or social media. 3. Sponsorship Where you pay an organization to use your brand or logo. This organization usually has a high profile so that you know that your brand will be seen by a large hearing. Most common use of sponsorship is with sporting events. The 2012 Olympics being held in London is being sponsored by a number of organizations such as Mcdonalds and Coca-Cola as the event will attract a worldwide audience that will run into hundreds of millions.