Analysis Two Environmental Forces Which Are Affected Essay Example

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Understanding the cultural environment is also crucial for marketers since it consists of institutions, basic values, and beliefs that can be difficult or easy to influence. There are core and secondary beliefs that reflect this environment as well which should be reflected in their campaign targeting the desired audience.

Hong Kong has transformed over time from a small fishing village to a financial center where people seek higher quality and more valuable products with noble designs. As part of their marketing program planning, Christian Dior Watches is launching a new limited edition collection of ladies' watches matching this trend by positioning themselves as luxury goods. The worldwide availability for the product on sale is restricted to only 5,000 pieces.This selection of women's watches has been created by a well-known designer who is ranked among the top five globally, and comes with an extended warranty period that has been increased from two years to four years. Christian Dior Watches is presently devising its marketing program to introduce their new product to the market, which requires the four crucial elements of pricing, product, place and promotion for a successful campaign. The pricing strategy plays a vital role in influencing the success of the marketing plan. According to Philip Kotler et al.'s Fourth European Edition, "Before setting price, the company must decide on its strategy for the product." Careful consideration of the target audience and positioning can simplify this pricing strategy. Christian Dior Watches' fresh collection aims at high-income consumers who prioritise features such as benefits, quality and brand name.