Marketing Mix 8 5.1 Product strategies 8 a) Key consideration 8 b) Product strategies 9 5.2 Distribution strategies 11 a) The role of distribution 11 b) Physical distribution 13 5.3 Promotion strategies 14 a) Promotion objectives and Factors that affects promotional mix 14 b) Promotional mix decisions 15 c) Integrated Marketing Communication 16 5.4 Price strategies 16 a) Price objectives 16 b) Prices policies 17 c) Prices settings 17 6. Implementation 18 7. Control 20 8. References 23 Executive summary The Coca Cola Company is the leader in soft drink industry. According to the vision that has been set out in their report, the Coca Cola Company aims at build better environment, better quality of products and strong relationship with their partner.
A disadvantage of having a 24/7 business is that you will have to pay more for staff to keep this e-commerce business operated at all times, people who would be operating the website are not on a normal wage like a shelf stacker it is far more. The negative impact of this is that it will set you back you profit margins you make in the business as you will need staff working 24/7. Customer information can be stored An advantage of running an e-commerce business is that customer information can be stored. The advantage of this is that a business can keep data on customer information the impact of this is that companies can easily get in touch with all their
8.) According to the weighted strength assessment Under Armour doesn’t have a competitive advantage over Nike. The thing that really hurt Under Armour in the test was its Global strategy. Nike beat Under Armour in the strength assessment by a little more than one point. We thought that Product Innovation was the most important key success factor along with quality, and global strategy.
Costco Case 1. Although customer’s repeatedly ask Costco to carry other items outside its price/ quality zone Costco should not give in and carry those items. Costco is dedicated to providing the best quality products at the absolute best value for customers and if they go outside that zone it would affect the way business is done and cost past down to customers. According to Costco’s website “their buyers are the best in the business at negotiating added values and extras not found anywhere else. Plus, our bare-bones operation keeps costs low, so the prices remain low and your savings enormous.” 2.
The growing sovereignty of American TNCs, such as McDonalds and Coca Cola, has seen the growth of cultural imperialism of western culture. This has led to an emphasis on consumerism and consumption, growth in democracy and a reliance on technology. It has been argued by some that the world is becoming ‘Americanised’, with American being the dominant global culture. This culture spreads by broadcasting its media and spreading the influence of its companies throughout the world. Four of the 25 largest global companies are American computer companies (Apple, Microsoft, IBM and Dell), which highlights how America is using its technological advancement to spread its culture.
Search engines are the driving source for online shopping. When consumers can type in a name of a product and click search hundreds of stores come up with pricing of the product. People like choices, and would rather search through the web for the best product and pricing. Associability plays key role in the success of companies. Companies have to pay a huge price to have their store front at the top of the search list.
This has been used to promote a culture of the regulation that has also proven to be problematic for society. Some examples would be the regulatory overreach with a case involving a California legislators that promoted excessive regulation of the railroad industry, and on the opposite end, deregulation that led to the financial crisis of the past few years. In my opinion part of the issue seems that being in the middle, taking a central position of neither being overly regulatory or laissez-faire will always be less appealing. The position in the middle is seldom a sexy or passionate one. Because of the lack of passion, the middle or center most position will never garner the enthusiasm that fuels the fiery rhetoric and mass protests that the more polar positions wield.
In terms of consumerism, the good life is damaging to the environment, places too much emphasis on money, and it dwindles the importance of non-market values. According to Annie Leonard’s “The Story of Stuff”, our current materials economy is a commodity chain in which goods go from extraction, to production, to distribution, to consumption, and finally to disposal. The system sounds stable but it is actually in crisis. Anyone with a simple understanding of mathematics can tell you that you cannot run a linear system on a finite planet in the real world. In order for us, the consumers, to get all of our fancy products and up-to-date technologies, a process that we turn a blind eye to takes place.
Welfare: Prevents non-rich from accessing needed goods, but incentivizes suppliers to send more b. Liberty: Diminished purchasing power diminishes reach of freedom of buyers, but allowing “gouging” respects freedom of retails to sell at the price the market dictates c. Virtue: “Gougers” seem to be taking unfair advantage of customers, which seems to be a mark of less than admirable personality traits – greediness, selfishness, a lack of compassion, etc. 2. Refusing to award the Purple Heart to Veterans suffering
The strength of being a consumer brand was not beneficial for B&D. Companies should strive to avoid product positioning overlap and brand dilution. Company should have clear identification of their products based on different segment and targeted market. We also learned from the case that customer preferences are heterogeneous; tastes and preferences differ among people. We should consider design attributes of both function and aesthetic form.