Develop Marketing Mix Strategy
The marketing mix is often crucial when determining a product or brand’s offering, and is often synonymous with the four AS: price, product, promotion, and place. In the next level of the report, a [email protected] Cleansing Lotion is assessed using above said four As and with the sales ; marketing methods, Improvement and strategies Methodology The report was prepared with data collected by visiting Swiss boogieing Pet Ltd, discussing with dermatologist and talking to the pharmacist , patient etc. In addition to that, information and data collected from internet, brochures, article etc. Which Is Understanding marketing mix and the four As
Marketing involves a number of activities. To begin with, an organization may decide on its target group of customers to be served. Once the target group is decided, the product is to be placed in the market by providing the appropriate product, price, distribution and promotional efforts. These are to be combined or mixed in an appropriate proportion so as to achieve the marketing goal. Such mix of product, price, distribution and promotional efforts is known as ‘Marketing Mix’. According to Philip Kettle “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response” .
The controllable variables in this context refer to the 4 As [product, price, place (distribution) and promotion]. Each firm strives to build up such a composition of ups, which can create highest level of consumer satisfaction and at the same time meet its organizational objectives. Thus, this mix is assembled keeping in mind the needs of target customers, and it varies from one organization to another depending upon its available resources and marketing objectives. Let us now have a brief idea about the four components of marketing mix.
The particular marketing variables under each P are shown in below. THE MARKETING MIX Marketing Mix Strategy Using Four Up’s Product A product is seen as an item that satisfies what a consumer needs or wants. It is a tangible good or an intangible service. Selected product – [email protected] Cleansing Lotion In 1947, [email protected] Cleansing Lotion was invented by a pharmacist as a safe and simple formula with which to mix dermatological remedies. By 1964, it was recognized by dermatologists as a stand-alone skin care product that was gentle enough for all skin types or conditions.
What started as a simple formulation recommended as an effective alternative to traditional soap cleansers is known today s [email protected] Gentle Skin Cleanser. Now, more than 60 years later, our product offerings have grown substantially and we’re leveraging advanced skin care technology to continue to bring you new products to compliment those you already know and love. Much has changed throughout the years, but our promise to you has remained the same: our products will help you restore, protect and maintain your skin’s natural balance.
What is [email protected] brand’s cornerstone? Innovative technology anchored in time-tested truth. That’s why our products are recommended by more dermatologists than any other brand. Healthy skin is what we believe in for people at very age, every stage and every day. Just like it has been since 1947 ? we promise. Every year, nearly 100 children with severe and fatal skin diseases get a week away from stares or bullies and instead experience the childhood Joys of summer camp. It’s a week where kids get to be kids, friends are made and connections last a lifetime.
It is called Camp Wonder. Camp Wonder is free of charge, supported by dedicated is proud to partner with Camp Wonder, providing a generous grant, employee volunteers and gentle [email protected] products both during the camp and throughout the year to help support children’s skin health needs. Our commitment goes beyond a short-term promise with plans to support the organization for years to come. Product differentiation Many products can be differentiated in form, the size, shape, physical structure of a product. Cataleptic has liquid form, 125 ml bottle with tip top opener.
[email protected] Cleansing Lotion is transparent. Feature Most products offer with varying features that supplement their basic functions. In here company should consider these features and whether competitors can copy it. Priorities these features and find the way to provide these information about how consumers can use and get the benefit from the features. [email protected] Cleansing Lotion has following features. 1. Non soap cleanser. 2. Non drying property. 3. Non irritating property. 4. Good moisturizing property. 5. Excellent cosmetic acceptability. 6. Non comedienne. . Non alkaline. 8. Fragrance free. Ingredients Ingredients I Functions I Cutely alcohol I emulsifying agent I Sodium lorry sulfate I skin softening agent Stealer alcohol I thickening agent Purified water I vehicle I Para benevolentness I preservative I Quality There are four types of performance levels. 1. Low 2. Average 3. High 4. Superior [email protected] Cleansing Lotion has superior quality compared with other cleansers. For example- The pH value, fragrance freeness. Skin surface. Good tolerances and are usefully for individuals with any type of skin.
Packaging Packaging plays an important role as a medium in the marketing mix, in promotion campaigns, as a pricing criterion, in defining the character of new products, as a setter of trends and as an instrument to create brand identity and shelf impact in all product groups. This includes all activities of designing and producing the container for a product. [email protected] Cleansing Lotion has ocean blue color pack. Introducing smaller pack sizes Lager pack size is 1040 ml for the customer. By introducing smaller packs like 65 ml and sachets customer can buy it at lower cost at a given time.
It can help to attract more multifarious customers. Price Price is the amount a customer pays for the product. The price is very important as it determines the company’s profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often it will affect the demand and sales as well. The marketer should set a price that complements the other elements of the marketing mix. Pricing should take into account the following factors. 1. Fixed and variable costs. . Competition 3. Company objectives 4.
Proposed positioning strategies. 5. Target group and willingness to pay. An organization can adopt a number of pricing strategies. The pricing strategies are based much on what objectives the company has set itself to achieve. Pricing Strategy I Definition I Penetration pricing I Here the organization sets a low price to increase sales and market share. Once market share has been captured the firm may well then increase their price. I Skimming pricing I The organization sets an initial high price and then slowly lowers the price to make the product available to a wider market.
The objective is to skim profits of the market layer by layer. I Competition pricing I Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher I Product Line Pricing I Pricing different products within the same product range at different price points. I Bundle Pricing I The organization bundles a group of products at a reduced price. Common methods are buy one and get one free promotions or Bogy’s as they are now known. I Premium pricing I The price set is high to reflect the exclusiveness of the product.
I Optional pricing I The organization sells optional extras along with the product to maximize its turnover I Cost Based Pricing I The firm takes which they would like for profit to come to their final pricing decision. I Cost Plus Pricing I Here the firm add a percentage to costs as profit margin to come to their final pricing decisions I [email protected] Cleansing Lotion pricing objective is to get the maximum current profit. Pricing strategy is Cost Based Pricing. Volume 125 ml pack- wholesale price 897. 00 ELK and retail price at 104. 00 ELK Competitor prices (consider only prescription based cleansers)
Company I Product name I Volume I Price I Inconsiderate phonologies I cosmos oversimplification’s loomi100m1150ml | 2507. 001063. 001100. 00 | Discount This is providing a discounted price for the customer base during the seasonal period. Allowances This includes giving extra volume of the lotion for the same price. Bonus scheme can be introduced for wholesale customers. * Buy 10 get 1 free. * Buy 50 get 5 free, * Buy 100 get 10 free Payment Period or Credit Terms 30 day credit period for wholesale buyers Place Place refers to providing the product at a place which is convenient for consumers to access.
Various strategies such as intensive distribution, selective distribution, exclusive distribution and franchising can be used by the marketer to complement the other aspects of the marketing mix. Most producers don’t sell their goods directly to the final users. Between them stands asset of intermediates performing a verity of functions. These intermediates constitute marketing channels. Marketing channels are set of interdependent organizations involve in the process of marketing product or service available for use of customers.
Channels Typical Channels in Business-to-consumer (BBC) Markets Level 3 Level 4 Level 5 Cataplexy has 4th level channel Transport Distribution Method [email protected] Cleansing Lotion is imported from Galleria India Pet Ltd under trade mark license from Switzerland. It imported by Swiss boogieing Pet Ltd. From the port mainly transported to the main stores in Colombo 13. After that distributed to main distribution centers in all over the island, Facilitating the distributing centers to distribute the product among other wholesalers and retails customers in their respective areas Coverage Main distribution centers.
Sylvania Colombo 06 Engorged Neighbor Rattrap Salutary Candy Bandleader Japan Optimum Promotion A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organizations promotional mix strategy can consist of: Types of promotion Types of promotion I Explanation I Advertising I Any non personal paid form of communication using any form of mass media. I Public relations I Involves developing positive relationships with the organization media public.
The art of good public relations is not only to obtain favorable publicity within the media, but it is also involves being able to handle increase in sales short term. Could involve using money off coupons or special offers. I Personal selling: I Selling a product service one to one I Direct Mail I Is the sending of publicity material too named person within an reconsideration mail allows an organization to use their resources more effectively by allowing them to send publicity material to a named person within their target segment.
By personalizing advertising, response rates increase thus increasing the chance of improving sales. Listed below are links to organization whose business involves direct mail. I Internet Marketing I Promoting and selling your services online using various forms of online marketing techniques such as banner advertisements, videos or social media. I Sponsorship I Where you pay an organization to use your brand or logo. This organization usually has a high profile so that you know that your brand will be seen by a large audience.
Most common use of sponsorship is with sporting events. I Sponsorship Populating the Product among Doctors [email protected] Cleansing Lotion is to be as a medicine for skin diseases. So it is necessary to promote the product among doctors; dermatologist and general practitioners. We will be sending a trained team of medical representatives to introduce the product. Promotional Stationary Chemist promotions Along with the promotion among doctors it is necessary to make the [email protected] Cleansing Lotion available at pharmacies for the customers buy.
So a team of skilled sales representatives will be sent to all leading pharmacies in the respective areas where doctors’ promotion is done. Bundled Promotions Sponsorship – Display name boards Special wholesale Prices Sales representatives for famous beauty parlors As skin cleanser it is necessary to promote it among people who are interested and concerns about maintaining such quality skin. Beauty Parlors are one such place where we can find our potential customers.
Product display cabinet at beauty parlors Personal Selling This includes the trained marketing staff talking to potential customers in person and marketing the product. Super Market sales girls with Product Samples Public Relations Public Awareness As [email protected] Cleansing Lotion can be used as a regular skin cleanser general public awareness is a must. This can be done through a public relations team educated about a product. Lobby promotions (Liberty Plaza, Majestic City, Candy City Center) Demonstrating how to Use the product ; Let Customers use it Mobile vehicle T-shirts for Salon staff Public relationships
Organizing events camps for skin care Sales Outlet in every exhibition at BENCH Internet marketing This includes marketing the product over the Internet and viral marketing through social media. Maintaining a web page with information about our product Maintaining fan pages and banner advertisements on backbone, twitter Email campaigns Sales Promotion Seasonal offers This is giving something extra for free to pamper the existing customer as well as to attract new customers. Free facial cotton with every bottle Cleanup for some ‘nth buyer Raffle draw Advertising TV Advertisements During popular tell dramas
Conclusion There are a lot of products out in the market that claim to help people in taking proper care of their skin. These products range from acne creams, cleansers and scrubs, among others. Of course, there are only a few of them out there which can actually lay claim to what’s been advertised. Some of them, as a matter of fact, may be filled with false promises of cleansing your skin and avoiding further breakouts when they actually don’t cater to all skin types. This means that there’s a chance that someone with skin allergies may experience worse results than intended, further damaging their skin.