Marketing mix for bread and chair Marketing mix for an everyday good Market Segment Product Pricing (Strategies and Tactics) Place Promotion Notes students bread size Universities, College Posters, internet Students are sensitive to size of product parents bread Size and competitors. Homestead Advertisement on television, newspaper, and radio. Parents are influenced by product size and competitors too Young working adults bread Packaging Homestead, near workstations Internet, and advertisement They want value for their money. Bread is a consumable product and can stale if not consumed within the recommend timeframe, thus it has to be sold at a faster rate.
Students engage in physical activities, and get hungry severally. Zikmund, W., & Amico, M. (1989) argued that Pricing of a consumable product should be based on size since students’ purchasing power is low, but they will be willing to purchase in small sizes, thus many units can be sold. Advertisement using social media like Facebook and posters around learning institution will boost sales. Parents will look for bread prices that are competitive, and that will be adequate for the entire family.
Parents are known to be concerned with the current happening in the society. Therefore, using newspaper, television, and television for advertisement, will create awareness. Young working adults like fancy things, therefore, the packaging should be attractive to lure them (Rouffignac, 1990). They look for value for their money and will not resist paying more for what they value. According to (Shove, 2007), this market segment forces Research and Development team to be more innovative by designing and redesigning products.
Use of social media will promote the bread brand, and the product should be close to their reach; places like workstations are recommended because they spend much of their time at work. Marketing Mix for household goods Market Segment Product Pricing (Strategies and Tactics) Place Promotion Notes students Chair Size and comfortability. Universities, College Posters, internet Students are sensitive to size and comfortability of a product. parents Chair Size and competitive. Homestead Advertisement on television, newspaper, and radio. Parents are influenced by product size and competitors too. Young working adults Chair Comfortability, and design. Homestead, near workstation Internet, and advertisement They want value for their money. A chair is a household good and found in all houses, but they do differ in appearance though they serve the same purpose.
A student will require two or three chairs at most because he is not a family person. The comfortability of the chair will take precedence before the purchase. Advertisement using posters around the learning institution will be effective. In addition to that, the use of social media supplements the promotion campaign (Carmody, 2001). The young working adults have disposable cash to spend and, therefore, they will be willing to pay for the x-factor that will make them unique.
Chairs should be designed to be appealing and look unique, having an exhibition near workstation will attract them to purchase even if it is by installment. Parents need to take care of the entire family, and, therefore, will purchase chairs that will not drain them financially. (Miracle, n.d. ), argued that married couples always make a Comparison with other competitors on the basis of product size and price. Newspaper and television are the best forms of promotion for this market segment. References Carmody, B.
(2001). Online promotions winning strategies and tactics. New York: Wiley. Jain, N., Ahuja, V., & Medury, Y. (n. d.). Internet Marketing and Consumers Online. International Journal of Online Marketing, 70-82. Miracle, G. (n. d.). Product Characteristics and Marketing Strategy. Journal of Marketing, 18-18. Rouffignac, P. (1990). Packaging in the marketing mix. Oxford: Butterworth-Heinemann. Shove, E. (2007). The design of products and services. New York, NY: Berg. Zikmund, W., & Amico, M. (1989). Marketing (3rd ed. ). New York: Wiley.