The paper "Importance of Good Marketing Strategy" is a good example of a marketing case study. Product: the company focuses mainly on electrical and electronics products. Some of the notable products mentioned by the case include; Siemens toasters, train, traffic lights and, MRI scan. Overall, the firm manufactures products relating to the following business sectors within the United Kingdom; ICT, energy, healthcare, financial services, and lighting amongst others. Price: it is noted that prices for different Siemens’ related products embrace different strategies especially because of the differences witnessed in currency fluctuations. While it is easier to get cheaper Siemens supplies, the suppliers might not likely enjoy the great length of expertise and high levels of services. Promotion: is the way for which products are marketed within the global consumer platforms.
It is established that Siemens has a higher capacity to engage in media and broadcasting. A perfect example is the core competency the firm shares with BBC on a 10-years deal. Subsequently, in a bid to uplift their respective standards of service, Siemens engages in the employment of on-site contract managers in order to take care of customer-based relationships as well as technologies set in place.
The effective customer relationship technique ensures that each of these customers’ immediate needs is uniquely handled at any given moment in time so that solutions are customized at all times. Place: Siemens operates in more than 190 countries across the globe but has a main headquarter in Germany where strategic decisions are conducted and implemented. In the United Kingdom, the company boasts of another major headquarter with more than 100 offices. It is noted that there are approximately 30 businesses within the firm in the UK and the figure is still increasing with due timeProduct PositioningThis is another significant element of the marketing plan that Siemens has employed extensively with the aim of establishing the perfect way of communicating their immediate product features to the target markets (Aaker, Brumbaugh, Grier, & Dick, 2000).
The perfect communication model helps to showcase the product attributes to customers in relation to their needs, competitive pressures, easily-accessible communication platforms as well as carefully formulated fundamental messages.
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