The image is one of “cute and playful” versus the more overtly sexy image of the core brand. The case highlights the different promotional approaches that Pink managers are taking in contrast to those of the core brand. This is a lifestyle brand. The Victoria’s Secret chain has been a big driver of financial success for Limited Brands (parent company), and Pink is expected to be a big part of Victoria’s Secret’s sustained growth. Not only does it give the chain a new set of customers, but it brings in customers at a younger age who will then “graduate” up to the Victoria’s Secret core brands.
For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling. Design of the marketing mix to satisfy the needs of the target market: The business will design their marketing mix around of the customers’ demands. This is important that the business design something that will meet the customers demand because they will have more sales and also more profits, if the business doesn’t do this they will lose sales and also a lots of profits, so this is very important that they do this if they don’t it will bring their businesses down. The business will make sure that they are investigation to find out what will be the best products
Marketing is the step-by-step detailed instruction on how a company or business plans to get its product, service, or identity to the marketplace. Some companies when launching a new product give out free samples of their product. This draws in consumers to test the product but also to bring awareness of the product. Promotion is simply effective communications. People must know about a product before it can be sold.
These ideas need to improve to increase consumer satisfaction. Kudler addresses the product section of the marketing plan to increase sales. For example, Kudler plans to use a frequent purchasing program to notice which items sell most frequently. Kudler will also bring in useful information if the company later contacts the consumers who purchase these items to see if the product is satisfactory or what improvements need to occur to make the product more useful. Kudler may also discover what selections of items consumers want to see on the shelves through the use of this information.
The need discovery step is a very important part of the plan where the sales person discovers the needs of the customer and selects the product that best fits their needs. After the salesperson establishes what the needs are of the customer and determines what product is the salesperson is ready to give the presentation. After the presentation the customer may be reluctant to buy and this is where a salesperson needs to be skilled
A number of approaches were considered to help Lowe’s lower expenses and increase profits. One approach was to grow Lowe’s brand recognition through new advertising approaches, such as social media, which will get the most out of the strengths. To overcome some key flaws, Lowe’s has a duty to provide cross training to all employees in all sections and jobs of the store prior to working alone. In addition, the execution of a quality assurance program to standardize the Total Quality Management (TQM) of products would help Lowe’s address various weaknesses and threats. Some of Lowe’s strengths include having the second largest market share in the industry, their creative ideas classes and videos, and their corporate social responsibility.
The Marketing Business Ramiro Torres MGMT 330 Jacqueline McClure (March 26, 2010) Abstract In order to have an effective Marketing Business everyone’s general strategy to target the market with communication and advertisement through coordination using the elements of the marketing mix to be effective and consistent. The way businesses gain their market share and know who to target comes from the many integrated marketing communications techniques. These techniques help advertisements six aspects to develop the right plan for the audience to measuring its effects to determining the correct message for the target market as well as the type of media being
Activity 2.2.docx Detail the methods and procedures that might be used by an organisation to communicate with customers to identify and agree on product/ service specifications. Business plans need to be flexable and be adapted to meet the changing needs of customers so the business can continue to support the delivery of products/services to customer specifications. Customer expectations and needs will change from time to time and will be affected by market trends, fashions and changes in external environments. You need to know who your customers are, where they com form, and what their buying intentions are. Market research and communication with customers is important to keep the organisation informed
This process is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. Marketing Strategies One of the first steps in the consideration of new product development and penetration of new product development is to analyze the market opportunity. Basically, we need to find out whether or not this venture is worth it. Our engineering team will need to determine the technical feasibility of the product idea. Once this is complete, our marketing team will need to determine the idea’s prospects in the marketplace.
What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not. Customizing options are extremely important to existing and potential consumers. For Thorr’s optimal marketing, they would also include lifestyle image, service offerings, quality engineering, and price.