Essay Color Key

Free Essays
Unrated Essays
Better Essays
Stronger Essays
Powerful Essays
Term Papers
Research Papers





Marketing Mix Example

Rate This Paper:

Length: 1792 words (5.1 double-spaced pages)
Rating: Red (FREE)      
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

1. Read following paragraph and explain the process this firm might go through to reach this specific marketing strategy - how and why this company reach to use this decision. Also explain results this firm may get from using this specific marketing strategy. In addition, recommend any modification of strategy based on SWOT analysis.
Bakery chain Tous Les Jours introduces two varieties of "Kim Yu-na bread,” named after the popular Korean figure skater. The flavors, chosen by Kim herself, are the sweet potato and cream bread, and the kaya bun. The company said that the proceeds will go to various charities selected by Kim. The bread will be sold nationwide.
■ how this company reach to use this decision
they must go through this procedure to decide specific strategy "market situation evaluation â†' SWOT analysis â†' specifications of marketing objectives â†' to choose marketing strategy(considering 4P's) â†' to prepare action programs and budgets
 
a. first step :market situation evaluation
tous les jours would have analyzed their market what really it is, what they face and so forth.
for example, nowadays young people like students tend to eat instant food (like bread) instead of meal more and more. as a result, the sales amounts of those kind of industry increase rapidly.
additionally, sociocultural trends are changing. that is, there happen to be some trends that regard social contribution or charity as their responsibility. they also might think they need to appeal the young generation who is main customers in that industry.
to sum up, marketing situation will be evaluated ahead of described specific strategy
 
b. second step : SWOT analysis
â†' what is strength
- tous les jours has a famous and popular brand name which can appeal the customer
- the customer thinks that company is good at customer service and has a clear circumstance.
- they have many retail outlets which spread out nationwide and so on
 
â†' what is weakness
- their price is a little bit more expensive than other local stores' because of franchise fee
- they have kind of unfamiliar name for korean people.
 
â†' what's opportunity
- customer's preference(need) is changing into instant food, especially young people.
- korean people think our food that is harvested in our agricultural areas is nutritive and safe.
- nowadays, social responsibility of the company is emphasized such as contributions, environment-friendly product and so on.
 
â†' what's threat
- there are many competitors like local stores and multinational stores.
- they can encounter food-polluted problem if they don't control their suppliers.
- bread is easy to go bad.
 
information obtained from the market situation evaluation is effectively structured through a SWOT analysis as mentioned.
 
c. third step : specifications of marketing objectives
- they would build their specific goal to achieve measurably such as sales amount.
- they will introduce their social role like charities
 
d. to choose of market strategy
in this case, I think SO strategy (strength and opportunity) is chosen.
and they also will narrow down marketing strategy specifically using marketing mix process
for example,
young students who like kim you-na, famous young skater are considered as target markets. similarily, tous les jours has chosen to position two kind of breads as kim yu-na's taste and linked to charities. finally, two kinds of bread will be considered as the breads that make the sports improve and do charities in their young customer.
accordingly, tous les jours'marketing mix include 'the product' which is made to attract young people and which is uniquely kim yu-na's taste, 'place' provided through tous les jours's outlet which spread out nationwide, 'pricing' that the young people can afford to buy the breads, promotion strategy that reinforce their own positioning strategy using famous sports idol, kim yu-na.
 
■ results this firm may get from using this specific marketing strategy.
to sum up, through this strategy, two kinds of bread will be considered as the breads that make the sports improve and do charities in their young customer. tous les jours also can increase in sales and proceeds. moreover another sort of breads that they carry make sales more as a synergy effect because the customers who visited don't purchase just one bread.
 
■ recommend any modification of strategy based on SWOT analysis.
in this case, the objective of marketing strategy is to build good image by SO strategy.
I think it is good. but I want to recommend one thing with threat component of SWOT. nowadays most of food industry is forced to open food additives in order to reveal whether some food is good to eat or not. but bread is not mandatory to open their information. I think that's big problem in relation to trend.
to remove risk about food problem, to notify this company's food is good and nice hygienically and also to prevent some problems, tous les jours had better choose things which deprive of threat, food-polluted problem.
2. Today we live in an environment of global warming and high oil prices, which demands energy efficiency.
Choose any firm which is currently operating in a market, and develop marketing strategy which is applicable to that specific firm in relation with above statement. 
a. first step : market situation evaluation
the customer's need is changing into environment-friendly product. that means the customer forces the producer produce cost(energy)-efficient items because the globe grow warmer and warmer and the people are threatened by green house effect.
and also the company is forced to observe laws in relation with environment by international institutions. in addition to these fundamentals, there are many competitors to search for escape hole.
 
b. second step : SWOT analysis
â†' what is strength
- Samsung Electronics has a enormous brand power
- there are many international distribution channel including retail outlets.
- the company gives the customer first-level of service (consumer's thought)
- they have first-level of technology to produce and adapt to the change.
 
â†' what is weakness
- their price is a little bit more expensive than competitors' products
- their product need much energy cost to work
 
â†' what's opportunity
- environmentalism is being another theme in the business.
- nowadays, social responsibility of the company is emphasized such as contributions, environment-friendly product and so on.
- consumer taste for product is changing into green product, energy-effective product.
 
â†' what's threat
- marketplace are fully crowded with product as much as growth rate is almost not rising.
- competitors are changing environmentally.
- market place is integrated to one place internationally.
- environmental policy is enforced bys law and institutions
 
c. third step : specifications of marketing objectives
- they build their specific goal to achieve measurably such as sales amount.
- they will appeal the customers they focus on green industry.
 
d. specific market strategy
SO strategy (strength and opportunity) is chosen
and they also will narrow down marketing strategy specifically using marketing mix process
housewives who emphasize on energy efficiency and environmentalism are considered as target markets. and they  positions their new product as environmentally friendly products and energy efficient products
 
accordingly, Samsung Electronics' marketing mix include 'the product' is made to attract housewives who like energy efficiency(especially power-cost reducing refrigerator, and kimchI refrigerator whose doors are divided into cold room and freezing room), 'place' provided through their outlet which spread out internationally, 'pricing' that is a little bit expensive by adding differentiated product which has high-quality to save energy, promotion strategy that reinforce their own positioning strategy.
 
in short, through this marketing strategy, this company's products will be considered as environmentally friendly products and energy-efficient products.  also they can make an increase in sales. 
 
 

3. After news of melamine-contaminated foods throughout the world, consumers are panic and very skeptica about food safety. According to a survey by research company Embrain, 66 percent of 500 Korean employees in their thirties and forties who drink instant coffee or vending machine coffee (both of which contain powdered milk) at least once a week said they changed to other beverages after hearing the news about melamine. Around 47 percent said that they changed to green tea while 17 percent said they now drink fruit juice.
Shinsegae-owned discount store E-Mart said that from Sept. 25 to 29, when the melamine scare was at its height, instant coffee mix sales fell 11.7 percent on-year but that green tea sales grew 5.1 percent.
What would you do to overcome this phenomenon, if you are a marketing manager of a firm which produce instant coffee mix. 
a. first step : to analyze market situation exactly
I think I have to understand what is problem, how our company are directly in relation with this situations (whether our product contains melamine), how much our sales decrease concretely.
 
b. Second step : SWOT analysis for immediate actions.
our company was focusing 'SO strategy(strength and opportunity) for the purpose of sales increase until now. but it's time to change and develop our marketing strategy using WT strategy to protect sales decrease.
I think WT strategy make our company get rid of existing risks.
doing this strategy, I will positively promote our good's safety to the customer by advertising and inviting customers to our factory because first thing we have to do is to make customers know that our coffee has nothing to do with melamine. TV promotion, newspaper, internet can be useful to obtain this objective.
 
c. third step : to gather information pertaining to customers, competitors, channels and public by doing marketing research.
I firstly will do marketing research to catch up with the changes explicitly in this industry. For example, where customer's preference go eventually, what actions will be taken by government like regulation about environment, how our competitors take actions to solve the problem, what our distribution channels want to and so forth. I will do in line with market research process(problem definition -> research design -> data collection -> data analysis and interpretation -> presentation of results)

d. fourth step : by analyzing marketing research data finds four players' movement. the research will include customer, distribution channel members, competitors and regulators. distribution channel is important factor which decide our goods to be sold or not because this situation will be also their problem. by doing research, we will find another opportunity for the long-term  goal. that means we have to catch up with changes of customer behavior and B2B behavior. Of course we have to consider consumer and organization buying decision process

finally, we will find the way by which decrease in sales can be protected.
In the view of short term, we will make efforts to reduce risks that our company face through immediate actions.
Also by understanding and analyzing four players'changes in the view of long term, I'll find new market or niches to improve our sales

-----------------------
Midterm exam : Marketing management

How to Cite this Page

MLA Citation:
"Marketing Mix Example." 123HelpMe.com. 02 Sep 2014
    <http://www.123HelpMe.com/view.asp?id=166254>.




Related Searches





Important Note: If you'd like to save a copy of the paper on your computer, you can COPY and PASTE it into your word processor. Please, follow these steps to do that in Windows:

1. Select the text of the paper with the mouse and press Ctrl+C.
2. Open your word processor and press Ctrl+V.

Company's Liability

123HelpMe.com (the "Web Site") is produced by the "Company". The contents of this Web Site, such as text, graphics, images, audio, video and all other material ("Material"), are protected by copyright under both United States and foreign laws. The Company makes no representations about the accuracy, reliability, completeness, or timeliness of the Material or about the results to be obtained from using the Material. You expressly agree that any use of the Material is entirely at your own risk. Most of the Material on the Web Site is provided and maintained by third parties. This third party Material may not be screened by the Company prior to its inclusion on the Web Site. You expressly agree that the Company is not liable or responsible for any defamatory, offensive, or illegal conduct of other subscribers or third parties.

The Materials are provided on an as-is basis without warranty express or implied. The Company and its suppliers and affiliates disclaim all warranties, including the warranty of non-infringement of proprietary or third party rights, and the warranty of fitness for a particular purpose. The Company and its suppliers make no warranties as to the accuracy, reliability, completeness, or timeliness of the material, services, text, graphics and links.

For a complete statement of the Terms of Service, please see our website. By obtaining these materials you agree to abide by the terms herein, by our Terms of Service as posted on the website and any and all alterations, revisions and amendments thereto.



Return to 123HelpMe.com

Copyright © 2000-2013 123HelpMe.com. All rights reserved. Terms of Service