This is a solution of Unit 4 Marketing Management Assignment Help in which we discuss Developing business
Marketing Mix for Kids:
Product: The product is “Mint Based Antioxidants Drink”. The speciality of this new product which would attract the kids is the mint flavour in the drink.
Price: Price of the product is set according to the penetration strategy as the customer can get the product as very reasonable price (Liou, et al 2011)
Place: The product will be available in the supermarkets
Promotion: Advertisement on TV is the best medium to attract the kids especially on the Cartoon Channels
Marketing mix for Millennial Customers
Product: The product is “Mint Based Antioxidant Drink”. Antioxidant as an ingredient of the new drink will attract the Millennial Customers.
Price: Millennial customers could go for bulk buying which would cost them lesser (Kim & Hyun, 2011)
Place: Online availability of the product and delivery to the offices and home would be suitable.
Promotion: Sport stars and celebrity endorsements and social media marketing.
The process of Business to Business marketing management and Business to Consumer marketing are little different. In case of marketing a consumer, the Appy Food and Drinks would have to separately identify the needs and wants of the individuals and try to incorporate all of them in the marketing plan. On the other hand, marketing to business could be a more general approach.
Another big difference in the marketing approach to the consumers and business lies in the thinking of the target customer. Individual customers might make the decisions on the basis of their emotions while the businesses think rationally before finalising any deal (Huang & Sarigollo, 2012). Hence, a more detailed and formal plan is needed to market the product to to businesses instead of individuals.
The process of marketing the products to the businesses takes time and many rounds of interactions are needed while the individuals’ behaviour of “let’s give it a try” is easier to get the first customer.
Appy Food and Drinks is a well known brand in the domestic market but the company goes international it would take time to establish a brand value in the new market. This gets tricky when there is already tough competition in the market with good quality. At this stage, Appy Food and Drinks would have to provide a good reason to the customers to buy its product instead of a local quality product (Becerra, Santaló & Silva, 2013).
Another big difference in the domestic and international environment of market is that Appy Food and Drinks already knows the needs and wants of the customers and the products are developed accordingly. Marketing these types of products is easier as compared to market the products to the international customers as the company is unaware of their needs and wants.
Appy Food and Drinks has a tremendous opportunity to grab the Millennial Customers through its quality products as the company already has the products which are healthy and ethical and pitching these products to these Millennial Customers would be easy. It could also generate huge revenue and increase its customer base by introducing a new product “Mint Based Antioxidant Drink” which does not have much competition in the market as of now.
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