Creating strategies that meet customer needs

When marketing your product companies need to create a successful mixture of:

the right product

sold at the right price

in the right place

using the most appropriate promotion.

To create the right marketing mix, companies must meet the following conditions:

The product has to have the right features - for example, must look good and function well.

The price must be right. Consumers will have to buy in large quantities to produce a healthy profit.

Products must be in the right place at the right time. Ensure the goods arrive when and where they need is a major operation.

The target group must be aware of the existence and availability of the product through the promotion. Successful promotion helps a company to distribute costs through increased production.

For example, a company like Kellogg is constantly developing new breakfast cereals - the element of the product is the new product itself, getting the right price includes examining perceptions of customers and competitors products and costs production, promotion involves participation in a series of promotional activities such as contests, tasting of products, etc., and instead involves the use of the best possible distribution channels and supermarket chains.The leading product is the central point the energy that marketing should focus. Find out how to make the product, the creation of the production line, providing funding and product manufacturing are not the responsibility of the marketing function. However, it has to do with what the product to the customer. Therefore, marketing plays a key role in determining such things as:

Product appearance - in line with market needs

product function - products must meet customer needs as identified through market research.

The range of products and the way it is used is a function of the marketing mix. The range can be extended or brand may be extended for tactical reasons, such as matching the competition or the restoration of seasonal fluctuations. Moreover, a product can be repositioned to make it acceptable to a new group of consumers as part of a long-term plan.

The price

Of all aspects of the marketing mix, price is the one, which creates sales revenue - all others are costs. The price of an item is clearly a key determinant of the value of sales. In theory, the price is actually determined by the discovery of what customers perceive the value of the item for sale. Researching consumer views on prices is important because it indicates how they value what they want and what they want to pay. Pricing policy of an organization will vary with time and circumstances. Crudely speaking, the value of water in the Lake District will be significantly different from the value of water in the desert.

The place

Although figures vary widely from product to product, about one-fifth the cost of a product is going to get to the customer. 'Place' refers to various methods of transport and storage of goods, and then make them available to the client. Getting the right product at the right place at the right time involves the distribution system. The choice of method of distribution will depend on a variety of circumstances. more convenient for some manufacturers to sell to wholesalers who then sell to retailers, while others prefer to sell directly to retailers or customers will be.

The promotion

Promotion is the communication business with customers. It will provide information that will help them make the decision to buy a product or service. Razzmatazz, rhythm and creativity of some promotional activities are almost oblivious to the normal business activities.

The cost associated with the promotion or advertising of products and services often represents a considerable proportion of the total cost of production of an article. However, success increases sales promotion so that advertising and other expenses are spread over a larger output. Although increased promotional activity is often a sign of an answer to a problem as a competitive activity that allows an organization to develop and build a series of messages and can be very profitable.

The marketing mix Manchester United

What are the main elements of the marketing mix of Manchester United? First product includes providing an excellent football team that plays and wins in an exciting way. However, there are other ingredients of the product, including merchandising such as selling a range of t-shirts and memorabilia. The product also relates to the television rights and own TV channel Manchester United.

In one aspect, the place is Old Trafford, where the matches are played at home, but the Manchester United also played in a number of other places. And, of course, its products are sold worldwide through the club's website and a range of other means of sales. Manchester United sold as a global brand. The club also participates in a number of joint promotional activities, for example by mobile phone company Vodafone. Books Manchester United shirts, programs, key chains and many other items are sold and promoted through its website.

The club has positioned itself at the end of the first category of the market and, therefore, tends to charge premium prices as evidenced by the high cost of a season ticket for league games at home.

Positioning or repositioning of a product - refers to the location of that product in a market, for example by producing a luxury product or anything. Positioning it as a product for younger consumers and older consumers, etc.