Some of the important components of product six are as follows:
Answer In terms of the marketing mix some would say that pricing is the least attractive element. Marketing companies should really focus on generating as high a margin as possible. The argument is that the marketer should change productplace or promotion in some way before resorting to pricing reductions.
However price is a versatile element of the mix as we will see.
The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased.
These companies need to land grab large numbers of consumers to make it worth their while, so they offer free telephones or satellite dishes at discounted rates in order to get people to sign up for their services. Once there is a large number of subscribers prices gradually creep up.
This is a no frills low price. The costs of marketing and promoting a product are kept to a minimum. Supermarkets often have economy brands for soups, spaghetti, etc. Budget airlines are famous for keeping their overheads as low as possible and then giving the consumer a relatively lower price to fill an aircraft.
The first few seats are sold at a very cheap price almost a promotional price and the middle majority are economy seats, with the highest price being paid for the last few seats on a flight which would be a premium pricing strategy.
During times of recession economy pricing sees more sales. However it is not the same as a value pricing approach which we come to shortly. Price skimming sees a company charge a higher price because it has a substantial competitive advantage. However, the advantage tends not to be sustainable.
The high price attracts new competitors into the market, and the price inevitably falls due to increased supply.
Manufacturers of digital watches used a skimming approach in the s. Once other manufacturers were tempted into the market and the watches were produced at a lower unit cost, other marketing strategies and pricing approaches are implemented.
New products were developed and the market for watches gained a reputation for innovation. They form the bases for the exercise. However there are other important approaches to pricing, and we cover them throughout the entirety of this lesson.
This approach is used when the marketer wants the consumer to respond on an emotional, rather than rational basis.regardbouddhiste.coming strategy!!
As soon as one hear the word “Nirma” the first thing that strikes almost everyone is the decades old jingle “Doodh si safedi Nirma se ayi..”.Apart from that low-cost has become synomous to regardbouddhiste.com was the invention of Karsanbhai Patel,a chemist from Gujarat who worked for the Department of Mining and.
This is the SWOT analysis of Nirma. Nirma Detergent is a successful brand of washing powder that is hugely popular in India. The brand which was introduced in the year in India redefined the meaning of washing powder in the Indian market.
Actually the 4 P's is an older view of Marketing which focuses on the seller. A more customer based approach is to focus on the 4 A's which include Acceptability, Affordability, Accessibility and. Marketing Mix MKT/ May 23, Niesce Upshaw One of the major factors of modern marketing is the development of an effective marketing mix.
The marketing mix is made of the four P’s, Product, Price, Place, and Promotion. The Important factors comprising the Macro Environment of Marketing are Demographic, Economic, Socio-Cultural, Natural, Technological and Political-Legal. Influence of each factor shall be discussed in detail in the following parameters.5/5(1).
- Hiren K Patel, CMD, Nirma Consumer Care Ltd.
(Nirma's marketing arm) Introduction In the early s, when Nirma washing powder was introduced in the low-income market, Hindustan Lever Limited (HLL) 1 reacted in a way typical of many multinational companies.