This is a solution of Unit 4 Marketing Assignment Help in which we discuss Developing business
Task 4 Marketing Mix in different context
4.1 Plan and present marketing mixes for two different segments in consumer markets for new product.
Marketing mixes for the different segment in consumer market for new product are as follows:
Marketing Mix for demographical segment: The age factor of the demographic segmentation is considered. The marketing mix is as follows:
- Product: the product includes healthy foods and drinks, products with low sugar or low calories.
- Price: the penetration pricing policy could be used at the initial level of product life cycle.
- Place: the customer can get the product from malls, restaurants, departmental store, super markets etc (Wilson, Daniel & Donald, 2002).
- Promotion: advertisements in TV, newspaper etc.
Marketing mix for Psychographic segment: the lifestyle factor is considered in this segment. The marketing mix is as follows:
- Product: the product with low sugar and low calories.
- Price: price of the product should be based on the premium pricing strategy as the customers of this segment will have high spending power.
- Place: “Appy foods and drinks” need to place the product in bars, Jims, clubs, malls, restaurants etc.
- Promotion: advertisements in newspaper, advertising campaign etc.
4.2 Illustrate the differences in marketing this product to businesses rather than consumers.
There is a huge difference in the marketing of the product to business rather than consumers as the business buyer has complex nature than consumer and more educated then consumer. For example in the case of “Appy foods and drinks”, if the company is looking for the business buyer then it has to keep its sales forces up to dated about the information system of the industry such as numbers of competitors, the special quality of the products etc. while selling the product to the customer direct, the sales person only need the information about the product (Yuan & Han, 2011). The nature of the buying process of both (the business buyer and customers) is totally different as the business buyer needs the large quantity of the product and consumers demands less quantity of product. The numbers of consumers are very much in the comparison of the business buyers.
4.3 Show how and why international marketing differs from domestic marketing
The difference in the marketing of the product domestically and internationally is mentioned below:
- While marketing the product within the boundaries, “Appy foods and drinks” would be already aware of the taste, culture of the customers while in marketing the product internationally, the organisation needs intensive researches on the taste and need of the customers.
- The political, economical, social conditions are different in international market. Even, “Appy foods and drinks” has to face the many challenges in international environment of market in the comparison of domestic market (Zhang, 2012).
- Nature of the customer, buying behaviour and pattern are totally different in international marketing.
- Culture and ritual also plays a very important part while market the product internationally.
Healthy food and drinks are the needs and demand of the customers as now they are being more health conscious. In the above report, the marketing process for the healthy foods and drink is explained along with benefits and costs of marketing orientation. The strategies such as segmentation, targeting, and positioning, pricing, distribution are also explained. The effect on “Appy foods and drinks” is also highlighted if the company decides to sell the product to business buyer or in international market.
Becerra, M., Santaló, J., & Silva, R. (2013). Being better vs. being different: Differentiation, competition, and pricing strategies in the beverages industry. Marketing Management, 34, 71-79.
Huang, R., & Sarigollo, E. (2012). How brand awareness relates to market outcome, brand equity, and the marketing mix. Journal of Business Research,65(1), 92-99.
Kim, J. H., & Hyun, Y. J. (2011). A model to investigate the influence of marketing-mix efforts and corporate image on brand equity in the Marketing. Industrial Marketing Management, 40(3), 424-438.
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