Marketing Mix in Different Context
Marketing mix consists of different elements like product, price, place and promotion. Here, all aspects associated with products are explained. The current presentation is based on the new product of Appy Foods and Drink. This product has been developed by taking into account the expectations of Millennial. Furthermore, presentation covers marketing of products and services to business as well as consumers.
Planning and presenting the marketing mixes for different segments in consumer markets Product- The new product of Appy Foods and Drinks will be “Healthy height enhancing drink�.
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This product is made for high income group that consists with a bit higher standard in terms of calories and fats. Product made for kids has almost same ingredient but have small variation and accordingly, prices differ.
Continued... Price-The product can be offered with moderate prices that means neither high nor low. Product as per the high income group will be offered at ￥120. This price is applicable for the customers above 10 years also.
Kids segment lies under high income group will be offered with the product at ￥100.
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•Cont... Place- Healthy height enhancing drink will be offered to buyers in retail stores. Appy Foods and Drinks' own store will also provide healthy height enhancing drink. ⚫
Promotion- Print media as template will also be distributed in schools and colleges. Social media will be used to raise awareness related to unique product. ⚫
Illustrating differences in marketing of height enhancing drink to business rather than to consumers Marketing of product in case of consumers require high emotional appeal which is not mandatory in businesses. Businesses require relatively less time in taking purchase decision where consumers need extensive time because they make comparison between available alternatives. The buying process in businesses is quite different from that of consumers.
•Cont... To business - Appy Foods and Drinks tries to build information relationship with its customers by focusing on their changing preferences. To consumers - On the other hand, businesses establish formal contract for long term buying process.
Cont‌ To business - Consumers are attracted through the help of effective promotional strategies To consumers - Businesses just need detailed information related to quality, price and manufacturing of products.
Differences in international and domestic marketing Trade barriers⚍
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Appy Foods and Drinks needs to follow the regulation imposed by UK government related to trade barriers among countries. In the same, goods and services tax imposed by government tends to affect the pricing decision at domestic level.
However, at international level, company needs to keep the same regulation in mind while marketing the products.
•Cont... Following issues are raised in marketing of products and services at domestic and international level⚫
Regulatory framework
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Impact of external factors
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Cultural barriers
CONCLUSION The aforementioned report concludes that domestic and international marketing are different from each other. It can also be said that consumer marketing requires relatively high efforts in comparison to businesses. Marketing mix must be designed with clear focus on target customers so as to launch the product in market in a successful manner.
•REFERENCES • Balmer, J. M. T., 2011. Corporate marketing myopia and the inexorable rise of a corporate marketing logic: Perspectives from identity-based views of the firm. European Journal of Marketing. 45(9/10). • Greenberg, P., 2010. The impact of CRM 2.0 on customer insight. Journal of Business & Industrial Marketing. 25(6). Pagla, M. and Brennan, R., 2014. The development of brand • attitudes among young consumers. Marketing Intelligence & Planning. 32(6).
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