The paper "Effectiveness of the Marketing Strategy" is a great example of a Marketing Case Study. The marketing mix is different types of choices that a company has to make during the process of introducing a product in the market McDonald (1991). It involves the use of the elements of a marketing plan. These elements are product, price, place, promotion, people, performance and process which are commonly known as 7p’ McDonald (1991). These seven elements are customized until a suitable combination that suits customer needs is found. At times the product can be substituted by presentation.
The P’ s are used to help a company to make strategic decisions which are necessary for the smooth running of the company. The first P is the tangible unit or services that a company wants to distribute in the market. The 2nd P is the amount of money a company is willing to offer its product to consumers in exchange for money. The pricing is very crucial since it affects if consumers will buy the product or not. For example if the price is too low the consumers will view the product as of sub-standard quality and if it’ s too high few consumers will be interested in purchasing the product (Cant, 2006).
However, it's challenging to decide on the pricing strategy since some customers believe that cheap is expensive and others believe that expensive goods are the best. The place where a company decides to sell its product has an impact on the marketing mix as well as the company itself (Beri, 2008). The location may be virtual (e-malls) or physical (supermarkets). Promotion involves making the product to be known by the public so as to raise awareness of its existence.
The elements of promotion are advertising, public relation, sales relation, and personal selling. It is advisable to begin promotion before introducing a product to the market so as to arouse curiosity in consumers. Promotion determines the target market and the product positioning McDonald (1991). This is among the most important P’ s since it affects the first three P’ s. If the promotion is effective the prices and distribution points increase due to increased brand equity. The first four P’ s are the main elements, however; we cannot fail to include the other P’ s since they are also essential in ensuring the success of the market mix (Groucutt, Forsyth & Leadley, 2004).
The people are the ones who ensure the product is successful at the same time they can tarnish the product’ s image. The performance involves measuring the strategic and financial goals if they are realistic and achievable. The process involves the methods used to offer a service/product to consumers. These processes are handling sales, order processing and customer support McDonald (1991). The aim of Nespresso Company was to become the excellent coffee providers in the world.
They came up with a boutique where they could meet clients and show their products as well as experience on lifestyle. They changed the idea of coffee by uplifting it into a luxury and personalizing it (Lorat, 2009). The main elements of the Nespresso brand are its logos/shapes, images, and its general layout.
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