Marketing Mixmarketing Mix Essay

1. Marketing Research A new growth strategy will ultimately need to be tested by dint of focalize groups, phone surveys and beta tests. Focus groups are sessions where company managers observe consumers through a one-way mirror. A moderator or interviewer will ask the consumers questions related to the companys product concept, including their likes, dislikes and suggestions for the product. This cultivation is usually evaluated later to help tweak the product concept. After focus groups, companies wasting disease phone surveys to obtain a more reliable have about the commercializes reaction to the product. 2. product Positioning Product lay is a best practice strategy utilisationd for both new and existing products. Small companies typically use a power grid when developing a product status matrix.The accusatory of product positioning is to determine which segment of the market to adorn a product. Companies often use two important product variables in a product positi oning matrix. For hot metric grain, these variables may include equipment casualty and time to cook. The product expense can be unhopeful or high, and the time to cook the cereal can be sluggish or quick. Consequently, segments for hot cereal may be low damage/quick to cook, low expenditure/slow to cook, high price/quick to cook or high price/slow to cook. A small company will usually piece its existing products as well as competitive products within the mixed segments. The segment with the least amount of plotting points may indicate an opportunity for the company, as that particular segment is under-served.Place of Distri exactlyion StrategiesDepending on the type of product being distributed there are three common distribution strategies purchasable 1. Intensive distribution Used commonly to distribute low priced or impulse purchase products eg chocolates, soft drinks. 2. Exclusive distribution Involves limiting distribution to a single outlet. The product is usually h ighly priced, and requires the intermediary to place much detail in its sell. An example of would be the sale of vehicles through exclusive dealers. 3. Selective Distribution A small number of sell outlets are chosen to distribute the product. Selective distribution is common with products much(prenominal) as computers, televisions household appliances, where consumers are willing to shop around and where manufacturers call for a large geographical spread.Pricing Strategies1. Penetration pricing hither the organization sets a low price to increase sales and market share. Once market share has been captured the firm may well thus increase their price. A television satellite company sets a low price to get subscribers hence increases the price as their customer musical theme increases. 2. Skimming pricing 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 lay er by layer. A games console company reduces the price of their console over 5 years, charging a grant at launch and lowest price near the end of its livelihood cycle. 3. Competition pricing Setting a price in similarity with competitors. Really a firm has three options and these are to price lower, price the same or price higher. Some firms offer a price matching service to match what their competitors are offering.Promotion Strategies1. Public dealing Involves developing positive dealinghips 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 successfully negative attention. 2. meshwork Marketing Promoting and selling your services online using various forms of online marketing techniques such as banner advertisements, videos or social media. 3. Sponsorship Where you pay an organization to use your brand or logo. This organization usually has a high in dite so that you know that your brand will be seen by a large sense of hearing. Most common use of sponsorship is with sporting events. The 2012 Olympics being held in London is being sponsored by a number of organizations such as Mcdonalds and Coca-Cola as the event will attract a worldwide audience that will run into hundreds of millions.