ESTABLISH AND ADJUST THE MARKETING MIX
- a) Global Kitchen appliance market
Global kitchen appliance market is growing at a high rate and this rise in the sale of kitchen appliances is due to the increase in modernization. Kitchen appliances designed with the view that it will ease the functioning of kitchen. Kitchen appliances operate its functions by using gas or electricity. These appliances used for cooking food, cleaning of kitchen utensils and for the purpose of storage. Beside electricity, cooking fuel, solar and renewable energy also play vital role in the function of kitchen appliances. The ranges of appliances vary from expensive appliances to reasonable ones. From the past decades, market data shows that kitchen appliances are becoming popular mainly due to increasing disposable income and the change n living standard of life. Technological advancement is the main reason behind this growth in the sale of kitchen appliances. Effectively function and easy to handle appliances are the main appliances, which are the need of the hour. However, the major concern about the kitchen appliance market is the massive consumption of energy by the kitchen devices.
According to the global kitchen appliance market that the market segmented which is based on types, product structure, application and geography. The main factors that affect the kitchen appliance market are:
- Technological advancements
- Increasing heath consciousness
- Energy consumption
- Quality product at lower prices
European kitchen appliances market shows a major change by increasing the sale of kitchen appliances and this is mainly due to advancement in technology. Households appliances market in Europe shows that the market is segmented mainly by product and this product involves the small household appliances and major household appliances, by distribution channel, this includes offline and online distribution, and by region , this region is segmented by targeting market of Germany, France, Italy, UK and the rest of Europe.
This study under consideration mainly deals with the online sale of kitchen appliances in Europe. The study deals with the company, which is new in this business of kitchen appliances and hence the company is under pressure of establishing its business. The company mainly operates through online.
Online sale of kitchen appliances is different from that of offline sale and this is because consumers mostly opt for the offline sale when it comes the question of purchasing kitchen appliances. But there are consumers who go for online buying and this is due to the fact of saving time of purchasing and at the same time to obtain discounts on products. Now for the company, which is new in this arena of selling online kitchen, appliances must include some strategies into its marketing process. Thus for setting up these strategies company must follow the current trend of the market. The market of kitchen appliances shows that market is segmented with respect to various factors, which is discussed earlier. Thus the company must follow these segmentations of the market before pursuing its sale.
- b) The company can acquire the information about the marketing trend based on the kitchen appliance market by following the strategies, which are adopted by major sellers in Europe kitchen appliance market. Company can opt to gather information from the report based on Europe market for kitchen appliances.
- c) Company can use the marketing skills for creating awareness for the consumers about the launch of the company which deals with variety of kitchen appliances. Company can use the social media marketing for creating awareness about the company. This step will help the company to spread its launch not only in specific regions but globally also.
- d) Company can use different skills of promoting the products and this skills will have to be developed by taking into consideration about the fact that the company deals with the kitchen appliances. As it has been observed that with the globalization and modernization, technology advancement is taking place and this advancement is not a stable one since advancements are taking place continuously thus with technology advancements all things should change its outlook in order to match the modern world , kitchen appliance is one of that thing that is developing day by day. Thus for the company to promote its products must take into its purview that marketing skills that deals with the technology of the products, its concerns about the healthy techniques used by the products and so on.
- e) Marketing mix used by the company must include the factors that help to understand about the product in a better way. Thus, the company must include the price segmentation of different products, product segmentation with respect to specifications of the product, place of distribution of the product it mainly shows that the company is operating online and promoting of the product, and these promotions used by the company must include the unique features of the products and its benefit sides.
- f) Service marketing is also important for the company to follow since this will help to convey organizational and brand message to consumers. Service marketing here are that should be followed are products, promotion, pricing and physical evidence.
2) Marketing mix that the company is following are price, product, place and promotion. With respect to different mixes company will create its strategies to meet its required goals.
Price- The price of kitchen appliance varies from brand to brand. These prices however does depend upon the working of the appliances, it is mainly set up by following the different specifications of the product. This specifications of the products ranges from variety of selections.