Pinch Tattoo Ltd Marketing Mix Strategies - Case Study Example

Pinch’s Marketing Mix Strategies Name Id Course Instructor’s name Institution Affiliation Location Date Pinch’s Marketing Mix Strategies Introduction Understanding the market is basically the root towards achieving the right profit and success in the business industry (Kotler et al. 2015). In order to fully understand the market, the management, and the leadership of the business needs to take the right product put it in the right place with the right price at the right time frame. It is also necessary to make the product well known to the customers to increase the sales volumes and the market share for the company. Pinch Tattoo Ltd has ensured that it remains relevant in the market through the application of various principles of the market mix strategies (The-riotact.com, 2016). The market plan below indicates the best way through which Pinch; a tattoo making company has developed its market mix strategies in the country’s economy through looking at the product, price, place, and promotion activities of the organization. Product The success of the product is realized when its manufacturing process has taken into consideration the needs and the expectations of the customers in the entire market share. The development of a product follows a specific lifecycle and the marketers for any company needs to plan for the product at every step of its development (Osinga et al. 2011). Pinch Tattoo Ltd has identified its customers and has realized the expectations that the customers wants for their products within all ages (Armstrong et al. 2014). They produce the products that have diversity towards ensuring that the different categories of customers are served appropriately in relation to their needs. The company has evaluated the side effects of the tattoos which has greatly affected its usage in the past and in the development of its products; it has ensured that its products does not have the patchy skins, burns and unsightly scares making it to attract more customers. In administering of the products to the individuals, the company has ensured that it provides each individual with the exact information and advice regarding the product to ensure that side effects are not developed. The company that is Pinch provides the service in the product through sourcing of the high-quality laser machines which does not affect the customer on administering of the tattoos to any part of the body. The company also hires trained and qualified employees to help in the administering of the tattoos to the customers without mistake making in the entire process (Fan et al. 2015). The company does not only make the tattoos, but also ensures that it evaluate the color acceptance with the body to ensure that the customers receive that best products and services. The company has ensured that products are made to serve different ages of people through introduction of varied products in the markets. It has realized that the needs for the old do not resemble the needs for the youth hence it has developed products which ensures that consumers benefit from all ages. The company has differential product development with the utilization of the high qualified personnel as well as use of high quality machines in the development of the product making it superior to its competitors (Kotler, 2011). The company has also looked at the problems that different consumers experience in the utilization of the tattoo products and have ensured that it works for the products which will solve the problems of the customers. The development of a product that solve the customers problems means conquering the market as customers always seek for the products that do not only offer services needed, but also the ones that solves their problems just like Pinch Tattoos limited does in their product development and has enabled it to develop in the market (Berthon et al. 2012). Price Price is the amount or value that the consumers are expected to pay for using a given good or service in the market (Becker-Olsen et al. 2011). The pricing that is tagged on a product is what determines the impact that the product will sell in the market. Different customers have different ways through which they perceive the pricing of a product hence the pricing should be done with evaluation of the market. There expectation for a given product that is the customers is the determinant towards the product sell in the market. In most scenarios, when a product is sold at the price that is considered to be of the expectation of the customers then the product will have huge sell in the market than the expectations of the producers. In case the product is valued at a lower price tag by the consumers then for the product to sell it must be valued lower than the expectations. The price of a product determines the demand as the law of demand dictates that the higher the price the lower the demand, Pinch Tattoos Ltd has ensured that it works as guided by the demand theories (Kim and Hyun, 2011). Pinch Tattoos Ltd has evaluated the markets and understood their brand and its integrity which helps them in fixing of the prices (Parlour, Photography, and Tiling, 2016). The company understands the challenges that come with the pricing, as they know that lowering the prices may chase away the customers with psychological notion that the products sold at lower prices imply low quality of services. The company has ensured that its product’s prices remain stable in the market through operating as the major dealers without employing any other broker on their behalves to deal with the product in the market reducing possibility of the middle men raising the prices (Glanz et al. 2012). The company deals with two brands pricing in relation to the quality required and the professionalism of the consumers. Dealing with two brands has ensured that none of the market share is left untouched in the market with relation to the opportunity that it offers to the company. The company operates on branded affordability and branded core value products which are as factors of service need in the market. The branded affordability deals with service provision for customers who are low income earners as well as those in middle income with too much responsibility lowering their operational cost. Brand core value products are offered to the customers within the bracket of high income earning, middle income earnings as well as for different celebrities in various fields within the market share. Sometimes the two branding is done by the company to fulfill and develop the consumer needs and satisfy the consumers with different price perceptions (Martin and Goodell, 2013). Pinch has ensured that they evaluate the prices and the kinds of services provided by the competitors’ then fix their price in relation to the competitors’ prices. The company also ensures that it offers discounts to the customers on a given amount of goods utilization ensuring that prices are greatly reduced attracting more customers to the company (Gordon, 2012). The company also ensures that they include additional costs such as taxes by spreading them to the entire products provided by the company. Promotion The existence of the product in the market does not mean the consumers knowledge regarding the product. Consumers’ need to be informed of the existence of the product in the market to ensure that they receive proper knowledge regarding the product before making decision on utilization of the good or service. Different promotion methods ensure that the products are easily known in the market to ensure positive move towards the company’s growth. Communicating the companies’ ideologies and products to the consumer ensures that sales volumes are increased as it creates an appealing knowledge to the consumers. It is necessary for the marketers to use the appropriate channel to provide every detailed information and ideas regarding the products (Bernhardt et al. 2012). Pinch has ensured that its products are well communicated to the customers through evaluating the market target for their products and determining the exact promotion method to apply in the market. The company has realized that most of the consumers for their products are online and have actively engaged on website activities to attract their customers. The online promotion method is done on pop-up and on daily basis since the demand for their products is never seasonal but available throughout the seasons (Fan et al. 2015). The company’s website is already on the good run with the creation of new home page and navigation which ensures that there is online reservation capability to serve all the customers questions and needs. The website and online services has been designed to provide the services with the goals being to convey high quality message, provision of proper direction of the company location and offer instant changes to the reservations online. The communication is mainly done to the adults ensuring the right audience is identified in the products promotion. With the increase in the number of television users within the country, the company has ensured that it advertises the products through the television to capture more customers. They promote the product through TV channels by ensuring that they include all the positive information regarding the product as well as the additional services within the company (Bernhardt et al. 2012). Personal selling as a means of sales promotion has been developed by the company in ensuring cooperation within the community. The practice has ensured long term relationship with the customers as they ensure direct contact with the individuals and consumers of their services. Through the attraction and development of good relationship, the company has developed strategic utilization of their relationship with the customers. Pinch has also ensured the utilization of the public relation activities to make known their products in the market. Pinch has presented itself as a supportive member of the community through participation of the various local activities. This has made the company to conquer more market and introduce the customer loyalty for their products in the economy. The focus of its promotion has remained to create new market and provide services which helps improve the image of the company. Place Every business incurs cost in every aspects of distributing its products and this call for the management evaluation on the best way of reducing cost. The transportation and delivery of the product to the consumers creates additional cost to the goods and services. The choice of the distribution system determines the type of cost that the company will incur in serving the customers. Pinch has developed the place strategies by locating their premises in the convenient and good places within the country. This has ensured easy accessibility to their products for every individual within the country. Their accessibility has also reduced the expenses that the consumers incur in finding their premises for the utilization of their resources. The company has ensured the location for its products are well known through the direction that they provide on the website concerning the services of the company (Wymer, 2011). The company offers the contact details which help their customers to determine the exact location of the premises providing easy accessibility. Pinch has its offices equipped with every required tool for the consumers’ usage making it easier to find the services everywhere. The company has ensured that its places of work are made up of two sectors which deal with the different types of individuals such as the workplace for dealing with the old and the workplace for dealing with the youths. The idea ensures that there is distinction in the services offered and even pricing for the products irrespective of their provision at the same location (Fan et al. 2015). Conclusion The paper has looked at the different market mix strategies that have been used by Pinch Tattoo Ltd in conquering the market. The paper’s main focus has been on the 4Ps which are important in the market development which included the product, place, price, and promotion. Form the discussion; it is clear that every element of the 4ps must be critically evaluated to ensure that the market is well taken care of. The company has operated effectively and every other company should try to emulate the strategies of Pinch to remain relevant in the market. References list Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia. Becker-Olsen, K.L., Taylor, C.R., Hill, R.P. and Yalcinkaya, G., 2011. A cross-cultural examination of corporate social responsibility marketing communications in Mexico and the United States: Strategies for global brands. Journal of International Marketing, 19(2), pp.30-44. 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