Many businesses nowadays need to analyze and use the marketing
mix in order to have changes and improvement to their current business. Nowadays the competition in the current market are rapidly increasing because of the changes in the external environment through time, and the businesses that are active at the current market should keep up and adapt to the changes using the marketing mix in order to keep the consumers interested to the products and services that the business are offering and at the same time satisfy the consumers with their own wants and needs.
The marketing mix has 4 types that needs to be analyze in order to apply it to the business that needs changes and improvement at their present situation. The first type is the product. Product is the goods and services produced in order to be soled by the business to their consumers, product can also be re-positioned to make it more acceptable for a new group of customers. A business should determine what products or services they can offer to the market in order to gain consumers and satisfy them. A Market -oriented business or organization should know and understand the wants and needs of their consumers and target market, and through research the organization will be able to determine what products that they should offer to the market, also through research an organization will be able to identify what products or services needs change in order to meet the wants and needs of their consumers in the market.
The Second type of marketing mix is the price of the products and services that are offered to the current market. Price are determined by many factors such as quality of the products and services that are offered, it is also determined by the competition in the market and one of the most important is how the customer sees the value of the product or services that are offered. There are pricing strategies that a business can apply such as Destroyer pricing, Skimming and Psychological point pricing. The Destroyer pricing type is where the business sets a very low price in order to the drive out the competition in the business, because many consumers nowadays are not only looking to the quality and quantity of the products, consumers always looks at the price, whether the price is worth it for that product or not, and many businesses at present is using the Destroyer price in order to attract and gain more customers and at the same time drive out the competition in the market. The second type of pricing strategy is skimming, this is where the business sells a new and premium product at a high price to gain higher profit. This pricing strategy only applies if the product that is being sold to market is of high quality or it has something unique in the product that can attract customers who will buy it. The last type is psychological point pricing. This type of pricing strategy is more on the psychological impact of the given prices of the products to the consumers, like if the product is priced 99 pesos then it looks better in the eyes of the customer rather than pricing it at 100 pesos.
The third type of marketing mix is the place of the business to the market. Because businesses should not only have the right products and price. A Business should sell the right products at a right price and at a right place. Because there is no point on selling your product even at a considerable price if the business is in a wrong place, then if the business is at the wrong place there would less customers in the market rather than having the business at the right place.
The last type of marketing mix is the promotion of the business of their own products and services to the customers. Promotion does not only inform the customers on what products and services that the business is offering, promotion also persuades the customers to buy and use the products the business is offering to the market. Promotion also should have clear aims and objectives so that the customers can easily understand what products and services that the business is offering and also in order to avoid miscommunication between the business that offers products and the customers in the market.
The brand Nivea is widely known worldwide as a brand that sells different kinds of skin care and beauty products. Through the years Nivea has develop a product line that is called Nivea for Men, this product line is obviously sells products that are specialize for the male consumers. Since introducing the product line Nivea For Men in 1980, the brand Nivea wanted to expand its market to the male consumers and that is the reason why Nivea developed their own marketing plan for their business.
A Marketing plan is just similar to a business plan. Marketing plan sets out how the company will achieve its aims and objectives. Because the aims and objectives of a business or a company informs and also shapes the marketing or business plan. By the time Nivea was developing their marketing plan, Nivea for Men wanted to increase its share of the UK male skincare market. Nivea For Men wanted to develop a marketing plan because Nivea noticed that it needed to expand its current market and the Nivea For Men product line, because men are willing to buy skin care products that are specialized for the male consumers like what Nivea did with its products. On developing the marketing plan Nivea Considered and studied the respond of the consumer expectations and external influences because these are the factors that can affect their marketing plan that Nivea is developing in order to improve and expand their products to the market.
Nivea used marketing strategies and it also studied their SWOT analysis(Strengths, weakness, opportunities, threats) in order to further develop its marketing and business plan. The strengths of Nivea For Men was it has strong brand recognition because it is widely popular in the market for selling skin care and beauty products. Nivea also had a strong marketing campaign because it had enough financial base in order to put a good marketing campaign. Although Nivea had many strengths that can gain more consumers, it also had some weaknesses like if it had the right sales and distribution outlets and also if the product range was still relevant to the target market which are the male consumers. Nivea had many opportunities in the market. Nivea had increase its sales in the market and Nivea for men wanted a greater share of it, and also men at present are more open to different kinds of facial skin care products, so it means that Nivea For Men can sell more products to their target market of male consumers. The Threats of Nivea however was that consumers are more knowledgeable and price conscious , so Nivea have to do many kind of sales promotions in order to gain their target market.
Nivea developed a good marketing strategy in order for their marketing plan to improve more. Nivea For Men set SMART objectives(Specific, Measurable, achievable, realistic) in order to develop its marketing plan. Nivea also used many kinds of promotion, like using sports like football in order to expand its promotion to the market. It created a strong brand affinity because Nivea was able to have a consistent connection with the male consumers, because as we know Football is the most popular sport in UK, so it means that many people are watching football games and in those football games Nivea is doing its promotions and advertisement in order to attract and gain consumers in the market. The last thing that Nivea did for their marketing plan was to evaluate. Because through evaluation Nivea can focus more
on improving and introducing new products to the market in order to gain more consumers and achieve its goals and objectives.
Through the years marketers are always trying to identify which are they going to improve in order to gain more interest, whether they are going to improve their current products, or are they going to focus more on the wants and needs of the customers in order to satisfy them and keep them interested on the products and services that they offer. Today many businesses starts to fail or slow down because of the wrong marketing strategy, which is focusing more on the improvement and innovation of the products and services that many businesses are offering at present, rather than focusing on the needs and wants of the customer at their present situation , meaning businesses should be more customer oriented with their business rather than product oriented, because whatever happens with your current business the customers are the one going to buy and use your products to satisfy their unlimited wants and needs ,and they are the one who is going to keep your business going because obviously if the business has no customer to serve then the business will eventually fail.
There is no point if the business keeps on focusing on improving and innovating the current products that they sell to the market if the customers are not going to buy and use it because it does not satisfy their own needs and wants, unless if the products and services that you are offering is already good and the customers continue to buy it and they suggest that it can improve or they need innovation with the products that you are offering to the market , then that is the time to give more focus to the current products and services that the business is offering but at the same time the business should keep in mind that it should be for the improvement of customer satisfaction and still it should be customer oriented.
The customer oriented business should not limit itself with the products and services that they are offering just because they focus more on the customers ,and not giving much attention to their current products anymore. The business should also continue focusing on their products that it is offering so that there will be more opportunity for the business to satisfy the needs and wants of the market that they are in. Because customers needs and wants changes through time depending on their current situation like; their income, work, lifestyle and many other factors that affect their current needs and wants. So the business should be flexible in keeping up with the current market and also so that they can adapt to the changes in the market and add and improve their current products so that even with the changes that happens they can still satisfy the customers and they can sell their product and services to the market.
Marketing has changed through time and as we all know marketing is about creating customer satisfaction and interest, but now we find that the customers are used to be the chap that you sent the bill to frequently a distributor, agent, or dealer, but very rarely the actual end user. And in the past years the pre occupation of the business with the customer increasingly has been formulated in terms of an end rather than in terms of means and the basic conditions that must be satisfied, and through the years the end user or customer was the exclusive problem of the dealer and not the manufacturer because the manufacturers felt that they had the ability to look at the trade structures as a group of institutions for hire , and also the users are the one who will dictate the adjustment of prices even the productions because it will determine on what the current market would accept.
The Manufacturer should also consider the packaging and styling of the product because this will be the external appearances that the customer will first notice on whether the product has good quality and appearance, in other words the packaging should be customer oriented. In the 1930’s Manufacturers studied the economies of scale, economists explored marginal concepts for setting the volume of production, and the government tried to prevent the large and efficient firm from sinking its smaller adversaries with the lowering of the price, and the idea of producing the same product for less cost turned out to be a large driving force for economic growth.
In the 1940’s it was all about making the same product cheaper, so it means there was a price cut in the products that are produced, and it added more competition because the producers are focusing on making and improving the old product better in order to have a new product to sell to the market, and because of the competition the competitive endeavors was attacking someone else’s status quo. The competitiveness in the market made the income of the workers increase than productivity, and the competition was more focused on bringing new products to sell to the market, and the result of this will be better for the customers because of the cheaper but newly improved products.
This time many business men complained about the problem of predicting the customer’s behavior has been made more difficult because of rapidly rising discretionary income. Few businesses at this time seem to be able to risk of staying in a single market with a single product, because the consumers needs and wants changes from time to time depending on the current situation of the consumer in the market. So businesses at present should plan on adding new products that will satisfy the consumers and at the same time create interest in the market. And when it comes to preparing plans, businesses are troubled by its inability to bring its identity in order for the market to see entirely its unique resources, and the whole market environment of which they are part of.
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