Characteristics of the Companys Products and Services - Assignment Example

Braaap Organisation Name Institution Professor Course Date Braaap Organisation Braaap Organisation is a firm located in Australia that deals with manufacturing of motorcycles. The company is driven by the desire to make accessible and enjoyable motorcycles. Brad Smith established the firm in 2008 (Braaap, 2015). The initial vision was to make first-rate motorcycles with unique features and affordable to users. The company wanted to create first-class motorcycles that would compete with the American made race bikes. The Braaap brand is the only motorcycle products with a lifetime warranty in the world. Braaap has developed to a motorcycle producer compelled by a zeal for riding. The firm’s mission is to get more individuals engaged in the firm’s sport and establish novel motorcyclists. In the competitive motorcycle market, Braaap as an emerging brand must try to establish feasible marketing strategies and up its game in order to win a competitive edge. The focus of this report is to establish and adjust the market mix of Braaap organisation. 2. Characteristics of the Company’s products and Services and their significance to the Market Braaap organisation provide a variety of services and products to accomplish the needs of its extensive customer base. The firm’s range of motorcycles includes road range, electric range, 2016 MX range, kids, Street Superlite, the Braaap Silent and Mercury Cafe Racer (Braaap, 2015). All these products hold distinct features that suit the need of every customer. The product matches customers’ unique needs and preferences. The major characteristic of the company’s products is its brand name. The brand name is unique and easier to recall. The firm has online stores that are convenient for customers and that bring products closer to where they are needed. The firm also offers free bike riding lessons and test rides to customers aimed at ensuring that riders ride with the right technique, control, braking and throttle. Besides riding lessons, Braaap products and services hold unique features that include flexible financing and payment modes, lifetime warranty, built for adult and customisations. These services are aimed at outdoing other motorcycles’ manufacturer and help the firm to win a competitive advantage. The company hold special adult rides in mind that the firm works to fulfil their wants and needs. As a result, the firm has established a learn-to-ride programme, the Braaap life club, in-store ride nights and lifetime coaching. The flexible mode of payment ($3 a day payment plans) enhances the affordability and accessibility of motorcycles to scores of customers. The rent-to owner policy allows clients to own motorcycles and pay in instalments. More importantly, customisation is a key feature of the firm’s services where customers are offered the prospect to select from a wide range of accessories and colours as well as personalise their products to match their taste and preferences. 3. Policy and Pricing Variables Braaap’s pricing policy is founded on manufacturer and dealership prices. This includes the Braaap’s overheads that determine the ultimate price displayable in-store and online. These prices include the entire product within the company’s brand that range from motorcycles, spare parts, helmets and clothing to mention but a few (Braaap, 2015). The firm offers a long-standing interest-free lay-by that enables customers to get the products on demand wand make a full purchase later. The pricing policy of the company makes it easier for customers to purchase the firm’s products and in turn deliver value to customers. 4. Effects of Promotional methods, Channels of Distribution and Customer services Promotional Method Promotional methods entail the techniques employed by a firm to create awareness of its products and services to customers. Advertising is one of the means that a firm can utilise to establish publicity. According to Payam (2012), modern advertising has become a low-cost with fast access to customers. Braaap promotes its services and products locally and internationally through conventional and modern promotional methods. The firm uses modern technology to promote and advertise its products and services (Braaap, 2015). The firm’s website and embedded videos accessible online promote the firm’s products and services. Other forms of promotions employed by the firm include franchise prospect information, high-quality pictures and contact forms that help in creating awareness of the firm products and services. The increased publicity increases sales and helps the firm to attract and win a large customer base. Channels of distribution Distribution channel entails the path through which services or good travels through from the producer to the consumer. It can include the Internet, wholesalers, distributors and retailers. Braaap’s channels of distribution are in-store and online. Customer service Customer service is the advice or assistance offered by a firm to its customers. It is an exceedingly essential component aimed at upholding constant customer relationships essential for continued growth of a company (Armstrong, Adam & Kotler, 2014). Braaap understands that the firm needs customers for it to progress and to win a competitive advantage. As a result, the firm employs exceptional customer service. The firm focuses on providing high-class customer service through the provision of quality, affordable and accessible products and services. Speedy information concerning the firm’s services and goods is provided on demand. Customers are served by resourceful and experienced staff who are well educated and trained. This helps the firm to retain and win an extensive market share. 5. Braaap’s potential customer base and pressure points for success in reaching them Customer base refers to a group of clients who repetitively buys goods and services from a given firm. Braaap’s customers include both young and old people with a passion to ride and make a difference in society through riding. The points for the success of reaching the firm’s potential customer base include the development of the long-term relationship between the customer and dealer. The firm also offers a cash flow positive guarantee to dealers that ensures that certainty, opportunity and confidence among dealers (Braaap, 2015). More so, the firm can reach out to the potential customer base through its social responsibility projects. The staffs that include passionate young persons with a desire to make a difference and inspire to create an experience via motorcycling helps in reaching out to the firm’s potential customer base. Proper engagement of the potential customer base and recognising them will helps in reaching a wider customer base. 6. Component of Marketing Mix Marketing mix entails the mixture of aspects that a firm can control to influence customers to buy its products and services. The components of the marketing mix include price, place, promotion and product. According to Stone (2001), the marketing mix lies at the core of identifying a firm’s marketing strategy. Braaap’s marketing mix includes product, price, promotion and place. The firm ensures that it manufactures high quality, affordable and accessible products to its customers. Braaap focuses on customer needs and preferences when designing its products. In addition, customers are allowed to customise their products in the sense that they can choose from a range of colours and select features that they would want added in their motorcycles. Braaap embraces the modern trend in electronic automobiles to ensure that customers are provided with products that match the current technological trends. For instance, the Silent Electric comes with first-rate components and tracking devices and trails. As regard, price, the company ensures that customers can afford their desired products through rental pay arrangements and the ($3 a day payment plans). To promote its affordable products, the company uses the modern technology to create awareness of its products to the target customers. As regard, place, Braaap uses online and in-store distribution channels to ensure that the products get to where the consumer needs (Braaap, 2015). More so, the firm’s products come with a lifetime warranty and flexible payment plans. The firm makes online submissions to its dealers and ensures that customer’s demand for the firm’s products is constantly met. The four components of the marketing mix are closely linked and are very crucial to the customer base because the customers need the high-quality motorcycles, at the right price, in the right place and with the right promotion. 7. Braaap External environmental factors and effect on the marketing mix The external environment of marketing allows marketers to predict possible incidences from the external environment that can impact a firm’s products, pricing policy, promotion and distribution. The uncontrollable external environmental factors that influence Braaap’s marketing mix include competitors, customers, suppliers and distributors, demographic factors, technological shifts, government policies and social forces. Competitors both local and international may affect the pricing policy, promotion and distribution of the products. They may also prompt the firm to add distinct features that would make the firm’s products distinct from those of the competitors. Suppliers, particularly those supplying raw materials may prompt price changes depending on their charges for raw materials. Customers may prompt product, price, promotion and distribution changes to suit their needs and wants. Technological factors can affect the product design and pricing while rules and regulations in Australia affect product quality, packaging and design as well product pricing and distribution (Jain, 2009). Demographic shifts impacts product pricing and distribution (Kotler, Burton, Deans, Brown & Armstrong, 2012). Apparently, scores of young people are joining motorcycle riding and this would prompt an increased demand for motorcycles. 8. Customer priorities and preferences and the impact Even though there are other motorcycle manufacturers that supply the country with motorcycles and minibikes, Braaap products are special and hold a competitive advantage because they are affordable and easier to customise. As a result, Braaap brand has grown to be popular in the country and around the world, and are highly recognised. The products are pocket-friendly and the payment is flexible while their speedy customer service keeps customers returning to make purchases. 9. New products or services against marketing objectives, target market characteristics and desired positioning Marketing objectives refer to achievable goals set by a firm when promoting its services or products to potential consumers. If new products would be offered, effective marketing objectives are paramount. The effective marketing objectives must be specific, measurable, achievable, realistic and time specific (Ferrell & Hartline, 2012). Braaap’s main precedence would be to attract new customers and retain an extensive market share aimed at promoting the firm’s productivity and profitability. The new products would be focused to young people and therefore the company would want to attract more young people into purchasing the firm’s products. As a result, the target market includes young people who desire fashionable products that match the latest technology. To meet this demand, the company must recruit resourceful persons who would help the firm attain the demand of the expanding customer base. The firm should ensure that their marketing policy meets the SMART goals characteristics. The firm should position its products to the target consumers who are the young people. Braaap should focus on product differentiation as its desired positioning strategy. Product differentiation explains how a firm’s products are different from that of its competitors and how it is important to use the firm’s brand. 10. Marketing mix and organisational, strategic and operational marketing objectives Braaap’s organisational marketing objectives include augmenting awareness of its product to the target market, provision of information regarding the brand features besides augmenting its market share (Doole & Lowe, 2005). The firm’s strategic or long-term marketing objectives are to augment its sales linking through its world-class product. The firm wishes to continue upholding customer-dealer long-term relationships and provide cash flow guarantee that increases confidence, opportunity and certainty among dealers and customers. Operational marketing objectives refer to daily, monthly or weekly marketing activities that facilitate implementation of larger strategic objectives. The firm pays attention to the correct ideas, decisions and choices and continues to enhance its overall performance. The firm's products are designed to meet the current and future needs of the consumers while the pricing, promotion and distribution are aimed at increasing the firm’s revenue besides attracting and retention of an extensive market share. The most appropriate marketing mix for Braaap organisation would include putting a lot of effort on the firm’s products and their functions. More importantly the firm should capitalise on the main areas that make the products more desirable to customers. The marketing mix should include improved packaging and clear operation instructions that will influence customers to purchase the company’s product. This marketing mix will help in differentiating the firm’s products from those of competitors. The product strategy should encompass core components that include product platform, design features and functional characteristics, packaging component that include trademark, price, quality and styling, and support services component that include repair and maintenance, installation instructions, spare parts and other services. 11. Performance of the organisation’s products and the tested components Evaluation and monitoring are crucial elements of product management as they offer a link amid product planning and execution. While evaluation centres on products goals and outcome, monitoring centres on outputs and activities. Braaap is an emerging brand that is doing quite well in the motorcycle market. The 2016 MX, the Braaap Silent, Braaap Street Superlite 125cc and Mercury Cafe Race among other firm’s products are functional and hold all the essential features that enhances the experience of the customer (Braaap, 2015). The quality of the company’s product is world class. The Braaap Silent hold a Chromoly frame with strengthened frame body and neck that create sufficient strength to keep the motorcycle moving. The rocking upside telescopic front, plush fork oil, heavy-duty springs and flexible rear shock provides the customers with a smooth ride. The brakes and engine of the Braaap motorcycles are exceptional. However, the electric motorcycles should be tested to see whether one could easily conduct an automatic battery swap when the battery runs out and continue riding. 12. Evaluate the implications of altering one or more components of the marketing mix in response to market factors and consumer response According to Harris and Botten (2008), altering one or more components of the marketing mix affects most, if not all, other components. For example, the quality of advertising may require to be increased when the selling price of the product has increased. If the features of the Braaap electric motorcycle changes to include an automatic battery swap when the battery runs out, the price of the product and its production must be affected. Every component of the marketing mix must change as the marketing environment changes. When the product features are enhanced for the quality purpose, the price goes up and so is the promotional cost. 13. Adjust components of the marketing mix in response to text results ensuring that the final mix meets, budget requirements, organisational objectives, operational marketing objectives and desired market positioning. The Braaap mission is to make motorcycling more accessible and enjoyable The firm’s objective is to ensure that it develops world-class, accessible and affordable motorcycles that compete with American race bikes. In this regard, adding features that would allow an automatic swap of the battery will uphold the firm’s strategic objectives as well as its desired market positioning. Apparently, the desired market positioning for Braaap product include a product differentiate strategy that sets apart the firm’s products from those of the competitors. Although the change in product features due consumer response and market factors such as demand will in some way strain the firm’s budget, the changes will bring long-term benefits to the firm. The changes will trigger a rise in the product price; increase demand for the product hence increased sales volume. The changes will also affect the operational marketing objectives. According to Rogers (2001), operational marketing objectives have to do with how a firm marketing is run on a daily, weekly, monthly, quarterly or annual basis. Changes or modification of a product features would instigate increased sales linking and improved scheduling of promotional strategies to create awareness of the new product features to the consumers besides increasing the product’s market share. References Armstrong, G, Adam, S, Kotler, P.( 2014). Principles of marketing. Australia: Pearson. Braaap.(2015). Braaap. Retrieved from http://www.braaapmotorcycles.com/about Doole, I., & Lowe, R.(2005). Strategic marketing decisions in global markets. UK: Cengage Learning EMEA. Ferrell, O., & Hartline, M.(2012). Marketing strategy. UK: Cengage Learning. Harris, D., & Botten, N.(2008). Introductory certificate in making. UK: Routledge. Jain, A.(2009). Principles of marketing. UK: FK Publications. Kotler, P, Burton, S, Deans, K, Brown, L & Armstrong, G.( 2012). Marketing. Australia, Pearson. Payam, H.(2012). Online advertising and promotion: Modern technologies for marketing. Australia: IGI Global. Rogers, S .(2001). Marketing strategies, tactics, and techniques: A handbook for practitioners. UK: Greenwood Publishing Group. Stone, P.(2001). Make marketing work for you: Boost your profits with proven marketing techniques. USA: How To Books, Ltd. Read More