...Marketing Mix Of Reliance Communications Marketing Mix Reliance communications 7 P’s of marketing for Reliance Communications Product Reliance mobile always faced the problem of weak network. So to correct the major have invested over Rs 300 crore to upgrade to NGIP (Next Generation IP) network. Product has to sell itself. Now they are launching about more than 1100 network towers to provide more coverage to its customers. Price There are many ways to price a product. The pricing policy/ strategy vary in various situations. In case of Reliance mobiles they have priced their product at a very low price & they also come up with new plans. Place Another element of Marketing Mix is Place. Place is also known as channel, distribution, or intermediary. It is the mechanism through which goods and/or services are moved from the manufacturer/ service provider to the user or consumer. Reliance Mobiles do not find it very difficult to find the distribution channel because they are the old players and distribute their product in India. Promotion Another one of the 4P’s is promotion. This includes all of the tools available to the marketer for ‘marketing communication’. Reliance has recently started doing heavy promotions. Physical Evidence Physical Evidence is the material part of a service. Strictly speaking there are no physical attributes to a service, so a consumer tends to rely on material cues. As Reliance mobile provide various rental plans. People ...
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...Discuss how the marketing mix strategies are likely to change over burritos’ product lifecycle. Marketing mix strategies are likely to change over burritos’ life cycle as they influence the product’s succession. With reference to Cantinas frozen burritos’, marketing mix strategies help evolve the product’s lifecycle towards the target market. The four marketing mix strategies include product, place, prime and promotion used in each stage of the product lifecycle (Armstrong et al. 2010). A new product progresses through stages from the introduction, growth, maturity, and decline in a sequence known as the product life cycle that is likely to change over the burritos’ time (QuickMBA 2009). As the burritos’ product hits the market as a new product development, it enters the introduction stage of the product lifecycle. Marketing mix strategies at this stage is extensively attracted to the promotion, as the frozen burritos’ is a new and unique product in the Australian marketplace. Profits are heavily spent on the promotion, which means high competitive prices of the product are through advertisement. Promotion at this stage targeted towards a small market segment, which is catered towards 15 – 30 year olds looking for alternative foods. (Armstrong et al. 2010). Extensive marketing testing was placed to build product awareness and to educate potential consumers about the product being introduced. This ultimately ensured its place in the lifecycle process with its slow growth...
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...marketing mix, the elements of the promotional mix, the communication process. The communication process has several steps, the goals and tasks of promotion, the AIDA concept and its relationship to the promotional mix, the factors that affect the promotional mix and the concept of integrated marketing communications. First, the role of promotion in the marketing mix. Promotion is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response. Promotional strategy is the plan for using the elements of promotion-advertising, public relations, sales promotion, and personal selling-to meet the firm's overall objectives and marketing goals. Based on these objectives, the elements of the promotional strategy become a coordinated promotion plan. The promotion plan then becomes an integral part of the total marketing strategy for reaching the target market along with product, distribution, and price. Second, the elements of the promotional mix. The elements of the promotional mix include advertising, public relations, sales promotion, and personal selling. Advertising is a form of impersonal, one-way mass communication paid for by the source. Public relations is the function of promotion concerned with a firm's public image. Firms can't buy good publicity, but they can take steps to create a positive company image. Sales promotion is typically used to back up other components of the promotional mix by stimulating...
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...22 Marketing Mix 22.1 Introduction The basic task of marketing is the delivery of product(s) to consumers so that their needs are fulfilled and organisational objectives are also achieved. This involves several important decisions, e.g. deciding about the product or products which should be offered for sale, price of the product, markets where products may sell and the means of communication with the consumer for the sale of the product. All these decisions form part of marketing-mix. In this lesson we shall study about the concept of marketing mix, its components and the relationship among various components of marketing mix. 22.2 Objectives After studying this lesson, you will be able to : explain the concept and characteristics of marketing mix; describe various components of marketing-mix; establish the relationship amongst various components. 22.3 Concept and Characteristics of Marketing Mix The process of marketing or distribution of goods require particular attention of management of business because production has no relevance unless products are sold. Marketing mix, simply stated, is the process 20:: Business Studies of designing and integrating various elements of marketing in such a way as to ensure the achievement of enterprise objectives. The elements of marketing mix have been classified under four heads - product, price, place and promotion. That is why marketing mix is said to be a combination of 4 P’s. Decisions relating to the product include...
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..."Comparative Study of Need Satisfactions in Military and Business Hierarchies," Journal of Applied Psychology, 51 (April 1967 9) Tolman, E. C, Purposive Behavior in Animals and Men , New York: Appleton- Century-Crofts, 1932. 10) Van Raaij, W. F., "Economic Psychology and Marketing," Oslo: Symposium "New Directions in Marketing," 1976. 11) Walster, E. and Walster, G. W. , "Equity and Social Justice," Journal of Social Issues, 31 (Summer 1975). DIARY 1st week 8 packaged salads mix – Greek, Barba Stathis Corn Eggs Tomatoes Potatoes Cauliflower Lemons Oranges Apple juice Yoghurt Total 2% - 1 packet Coffee 1/d kg minced veal Apple Juice Amita Chlorine Azax for Floor Cleaning 2nd week 5 packaged salads mix – Greek Barba Stathis Cheese Rice Yoghurt Total 2% Mushrooms canned Canned Tuna Spaghetti Kitchen Paper Napkins Green Lola 3rd week Pumaro Tomatoe Juice Chicken legs 6 packaged salads mix – Barba Stathis Fish...
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...Product Life Cycle stages, which brings an understanding that products have a limited lifespan. This makes new product development important to ensure their business continues to grow. Product Mix Product mix, also known as product variety, is an example of the total number of lines that a company offers to its customers. For example, a small company may sell multiple lines of products. Other times, the product lines are vastly different, such as diapers and razors. The four dimensions to a company's product mix include width, length, depth, and consistency (Suttle, 2014). In determining product mix, an organization's product determines the comparable quantity of every product it provides. Some organizations may generate an equal percentage of every goods created in demand to its consumers. When an organization wants to expand profits by establishing an ideal product mix to benefit from, it is essential to promote different production effectiveness and satisfy consumer's desires. The most lucrative way to expand a business is with logical product extensions. All products should be an extension of an existing market and be something that will sell to an existing customer base. It should be an extension of an existing expertise and fit into an existing product or service mix (Tracy, 2004). Product life cycle The product life cycle starts with the product design and ends with the declination of the product from the market. Therefore we divide the product life into four...
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...Denisse Esparza Professor Craven Marketing 350 November 21, 2013 The Impact of Marketing in My Life What is marketing? Marketing is an activity. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products to the public. Marketing has impacted my life dramatically because I use a lot the four P’s at work and my personal life. The four “P’s” are Product, Price, Place and Promotion. Society can exist without Marketing, but Marketing cannot exist without Society. Marketing is the management process of anticipating, identifying and satisfying customers’ requirements. There are various marketing tools like advertising, branding, direct marketing, sales promotion, publicity and public relations. These tools help companies make more and larger profit, and satisfy all customers. In this paper I am going to discuss how the Four “P’s” have impacted and changed my life. Product in the marketing mix refers to the item actually being sold. The product must deliver a minimum level of performance; otherwise even the best work on the other elements of the marketing mix won't do any good. I learned that a product should be in good conditions and it should be the best product offered for customers to buy it. For the business, the product should have a variety of colors, sizes, styles, etc. If the business wants to sell a large quantity and make a moderate profit, they should add or change...
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...Soft adornment/furnishing has reached a more mature degree at present stage. This statement can be used as illustration of the history of soft furnishing art. Cumming (2004) holds the viewpoint that since the 21st century, with the rapid development of economy and technology, and the continuous improvement of people's aesthetic consciousness, there is an increasing demand for the pursuit of fashion and quality of life. Thus, this opinion can be used as an evidence of supporting the crossover of catwalk fashion and soft furnishing fashion. Also, he believes that rendering of the household life can reflect aesthetic sentiment for people to pursue both fashion and quality. According to Liz Barnes (2013, p. 182), the home consumption capacity can be as high as 200 to 300 billion RMB only in Chinese market for a year. It is benefit for this research to show that the fashion household market is huge. Therefore, it has attracted the attention of the fashion world. According to Donohue (2013), mix and match style is derived from clothing fashion, which means that mix different styles, textures, colours together in clothing wearing to produce an alternative effect....
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...Long John Silvers Marketing Mix Long John Silvers is a fast food establishment that started back in 1969. It started with one restaurant that grew to many more by the 1980's. As they learned how to market their products over the years, they became a well known word around town for their seafood meals that were boasted to be a much better price and deal than going to a real seafood restaurant. In this paper, we will examine the marketing mix and how it effects Long John Silvers. The marketing mix has four main components, product, place, price and promotion. We will examine each one of these mixes and how they pertain to Long John Silvers. The first marketing mix component is product. The product is an important part of the marketing mix and is the basis for any company to offer either a service or product. The product usually goes through a life cycle. The beginning stages where the product is new and not well known yet. The growth phase where there is a dramatic increase in sales and popularity. This is followed by maturity where the product reaches its top out. The last phase which is decline when maybe other companies or the same one invent or rework the product to help take it back around again through the life cycle.(Perner,2008,pp.5) Long John Silvers has made many advances over the years to their menu and have included items that would cater to a wide range of tastes whether it was seafood or not. Many of their products have been around since the inception...
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...* * * Using Perceptual Maps in Marketing * Thorr Motorcycles is a lucrative business that saw downturns in sales and customer satisfaction. The two reasons for the recent drop in sales are that the current target market of people between 35 and 50 years old are aging and are less interested in the lifestyle that Thorr Motorcycles offers and that the younger market of people between 21 and 35 years old have taken interest in less expensive models of motorcycles. To formulate a positioning strategy a perceptual map is created to decide which areas are most important to customers and improve those areas (Apollo Group, Inc., 2004). Several steps are involved in the process. Outlining these steps and analyzing the results of these decisions can help Thorr Motorcycles to regain its former popularity and continue to satisfy its customers to the fullest. Perceptual Map Parameters Perceptual maps provide a visual representation of customer opinions relating to the brand. In this instance four areas that are most important to the customers of Thorr Motorcycles needed to be determined in order to provide the best representation of Thorr Motorcycles with their competitors, Anzai and Espritique, to decide where there is room for improvement. The parameters chosen for this analysis are lifestyle image, quality engineering, price, and services. Lifestyle imaging is an important aspect in the motorcycle industry. Lifestyle imaging constitutes the branding of the product...
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...Marketing Research 16.4 Market Segmentation 16.5 Marketing Mix 16.6 Other Marketing Strategies 16.6.1 Sub-Contracting Exchanges 16.6.2 Tender Marketing 16.6.3 Consortia Marketing 16.6.4 Government Stores Purchase Programme 16.7 Product Life Cycle: Concept and Significance 16.7.1 Stages in Product life cycle 16.8 Marketing Problems of Small-Scale Units Introduction The objective of all business enterprises is to satisfy the needs and wants of the society. Marketing is, therefore, a basic function of all business firms. When a salesperson sells washing machines, a doctor treats a patient or a Government asks people to take their children for getting polio drops, each is marketing something to the targets. Traditionally, small firm owners did not give as much importance to marketing as to other functions such as accountancy, production and selling. Training programmes, enterprise development and the current thrust for competitiveness have now given high priority to promoting marketing awareness among small business owners, and marketing is now assuming its rightful place along with other business functions. Since early 1990s there has been a change in the thinking of businessman from product orientation to consumer orientation. Modern business concerns lay emphasis on ‘selling satisfaction’ and not merely on selling products. The activities have to be coordinated so as to develop the marketing mix, which provides maximum satisfaction to the customers. That...
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...Chapter 9 Product-Mix Strategies A product mix is the set of all products offered for sale by a company. A broad group of products, intended for essentially similar uses and having similar physical characteristics, constitutes a product line. Marketing executives can choose from a variety of positioning strategies. For example for some products the best position is directly against the competition. Another strategy is associating the company’s product with (or distancing it from) a product class or attribute. Also certain producers and retailers are known for their high-quality products and high prices. Product-mix expansion is accomplished by increasing the depth within a particular line and/or the number of lines a firm offers to customers. When a company adds a similar item to an existing product line with the same brand name, this is termed a line extension. There are many reasons for line extensions but the main one is that a firm wants to appeal to more market segments. Another way to expand the product mix, referred to as mix extension, is to add a new product line to the company’s present assortment. Under a mix-extension strategy, the new line may be related or unrelated to current products. Improving an established product, termed product alteration, can be more profitable and less risky than developing a completely new one. Another strategy, product mix contraction, is carried out either by eliminating an entire line or by simplifying the assortment within...
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...prof. M. Miščančuk Student: Andreja Andraši (1791/601) Varaždin, 09.04.2010. Varaždin, 09.04.2010. 2 Table of content 3 1. The 4 P's of Marketing in general 4 2. The Marketing Mix 4 2.1. Product Decisions 5 2.1.1. The Product Life Cycle (PLC) 6 2.1.1.1. Introduction 7 2.1.1.2. Growth 7 2.1.1.3. Maturity 7 2.1.1.4. Decline 7 2.1.2. Problems with Product Life Cycle 7 2.1.3. The Customer Life Cycle (CLC) 8 2.2. Price Decisions 8 2.2.1. Pricing Strategies 9 2.2.1.1. Premium Pricing 9 2.2.1.2. Penetration Pricing 9 2.2.1.3. Economy Pricing 9 2.2.1.3. Price Skimming 10 2.2.1.4. Psychological Pricing 10 2.2.1.5. Product Line Pricing 10 2.2.1.6. Optional Product Pricing 10 2.2.1.7. Captive Product Pricing 10 2.2.1.8. Product Bundle Pricing 10 2.2.1.9. Promotional Pricing 11 2.2.1.0. Geographical Pricing 11 2.2.1.1. Value Pricing 11 2.3. Place (Distribution) Decisions 11 2.3.1. Six basic 'channel' decisions 12 2.3.2. Selection Consideration - how do we decide upon a distributor 12 2.3.3. Types of Channel Intermediaries 13 2.4. Promotion Decisions 13 2.4.1. The Promotions Mix 14 2.4.1.1. Personal Selling 14 2.4.1.2. Sales Promotion 14 2.4.1.3. Public Relations (PR) 15 2.4.1.4. Direct Mail 15 2.4.1.5. Trade Fairs and Exhibitions 15 2.4.1.6. Advertising 15 2.4.1.7. Sponsorship...
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...Develop a coherent marketing mix for a new product or service Marketing mix Sometimes referred to as the four P’s of Product, Price, promotion and Place, these are the ideas to consider when marketing a product. The marketing mix provides an excellent framework for developing marketing plans. There are four main parts which are: * Product * Price * Promotion * Place Product A product is something that can be accessible to a market to satisfy a want or need. Products include physical goods, services, experiences, events, persons, places, properties, organisations, information and ideas. It is therefore the mixture of goods and services that are obtainable to the target consumer. Product levels A product can be viewed in three different levels: * Level 1: The core product is the benefit of the product that makes it valuable to someone. * Level2: The actual product is the physical item. Branding, added features and benefits play apart to differentiate the product from competitors offers. * Level 3: the augmented product is additional value beyond the physical product. It normally involves after-sales service, warranties, deliveries, instillations etc. Product range A business always changes and updates its products range and mix. Another important issue is the extent of the mix. If a business does not have a lot products, there is a chance that one will go out of date and damage total sales significantly. However, if there is too much...
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...Programme: | BTEC L3 Extended Diploma in Business | Unit (No. and Name): | Unit 3 Intro to Marketing Part 2 | Start Date: | 18th December 2014 | Deadline Date: | 16th January 2015 | Marking Tutor: | Danielle Vipond | Internal Verifier (Brief): | Tam Baldwin | Brief Verified (Date): | | Internal Verifier (Assessment) | Tam Baldwin | Targeted Criteria: | P1 | P2 | P3 | P4 | P5 | P6 | P7 | P8 | Achieved: | | | | | | | | | | M1 | M2 | M3 | M4 | M5 | M6 | M7 | M8 | Achieved: | | | | | | | | | | D1 | D2 | D3 | D4 | D5 | D6 | D7 | D8 | Achieved: | | | | | | | | | Plagiarism: Work handed in against this brief must be the learner’s own work. Any content not generated by the learner must be appropriately referenced; otherwise it will be taken to be that of the learner submitting it. Any infringement of the College’s Plagiarism guidelines will result in the Assignment not being marked and Disciplinary proceedings initiated. Scenario: | You work for a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products and services. Your marketing agency has a varied portfolio of clients and you have been given a range of business tasks to complete to help maintain their business and that of their clients. | Assessment Tasks: | Number | Task | Criteria Targeted | 1. | * Following your attendance at the workshop for P3 you will be given...
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