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To be profitable, consumers have to be aware of new products and purchase the items; this is how companies increase revenue. Being able to effectively manage the four Ps of the marketing mix are crucial to the success of the new product or service being marketed. The four Ps consist of product or service, place, price, and promotion (Kotler, & Keller, 2013). By using the four Ps marketing mix, it assist in how your company decides to market a new product or service; and tests current marketing strategy. This concept works both domestic and internal markets; for international markets, various cultures will have to be researched and adjustments made to integrate the products or services successfully into the market (Kotler, & Keller,
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Also, there’s a significant opportunity to gain a considerable market share in the energy beverage market that will create brand awareness, and strengthen brand loyalty. Threats “Threats arise when conditions in the external environment endanger the integrity and profitability of the company’s business (Hill, Jones 52).” Some threats that we see that could affect the Dr. Pepper Snapple Group, Inc.: established energy drink companies, brand loyalty by consumers, health concerns by consumers, price Company Business Strategy Build and enhance leading brands The company uses an ongoing process of market and consumer analysis to identify key brands that have the greatest potential for profitable sales growth. The company intends to invest most heavily in its key brands to drive profitable and sustainable growth by strengthening consumer awareness, developing innovative products and brand extensions to
Scottish Power – Good Ethics Is Good Business The world has really changed, particularly the way business is conducted globally, with new economic and new technologies shaping the globalization environment. One of the main reasons for global success is found is due to cultural diversity. Companies are constantly faced with dilemmas, as in international cultures versus corporate cultures, the bottom line being social and environmental impacts. It is imperative that companies must first address the facts that constrain business values in order to be successful. The Director of IBE, Philippa Foster Black, stated: "Not only is ethical behavior in business life the right thing to do in principle, we have shown that it pays off in financial returns.” (Foster-Black, P. 2006) Companies are continually presented with challenges and opportunities formed by concerns about their environmental and social impact.
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