Question

Choose a consumer and a business-to-business market (a product or service) of interest. After

reviewing the numerous marketing mixes presented and other sources you might find relevant,

develop what you believe would be the most appropriate mixes for each of the markets you have

chosen. In each case, explain what perspective does each element within your mixes represent?

Justify why you believe your marketing mixes are the best. How do they differ? How do the

differences between mixes suggest different strategies? In each case, explain what it is you are

fundamentally

offering

.

Provide a detailed explanation for each of the above questions.

Answer 1

What is Marketing Mix ?
Marketing Mix can be defined as the set of sequential actions that a company can execute in order to sell or position its product or services.The Marketing Mix revolves around the Famous 4P's of Marketing and the near correct combination of these 4P's can evolve as a Marketing Strategy which in turn fulfills the Organization's Business strategy .

What are the 4P's of Marketing ?
• Price - The Value at which the Organization is ready to sell (Note: Sometimes it can be debated it is Value at the customer is ready to Purchase)
• Product - The Goods or Services which is being sold
• Place - The Point of Sale or the actual location where the selling is made
• Promotion - The Set of tools or Activities used to position the product in the minds of the Consumers
Having known the fundamentals let us move on to the Application of the Marketing Mix (i,e devise a Marketing Strategy) in Consumer Market and Business to Business Market.

Consumer Market - Anti Aging Cream for Women

Introduction - A top FMCG company decided to introduce a New Anti Aging Cream for Women under its Beauty and Care segment. The Compnay expected 20% of the Revenue should come from its New Anti Aging Cream for the FY and it had decided to devise a New Marketing Mix of its Upcoming Product .
Road to Marketing Mix startegy - The Company had many options in its table but the foremost things what it needs to be done is postioning of the New Anti Aging Cream for its Target Customers.The Company after intial research found the Target customers are in the age group of 30-45 .The Company beleived and Adopted the Following Marketing Mix to postion its Brand
Product - The Product was positioned for the women in the age group of 30-45 .The Need of this product is to make the women of the age group to look beautiful rather than medicated product that address thier skin problems.
Price - Having said the company aims at the 20% of revenue should come from this New Anit Aging Cream , the company has postioned the price of the product in a Premium Category.The Reason for Positioning Higher price is the Product main USP was Anti Aging Factor and the spending pattern if women is high for beauty products
Place - The Company decided to sell the products through Super Market and Retail outlets Channels where they have the presence of their exiting product lines
Promotions - The Company had adopted promotions through 2 different routes 80 % of the promotions where Print Media in All Leading Women Magazines and 20 % of Promotions where in TV Commercials

Bottomline - This Startegy of Marekting Mix seems to be an effective than other combinations becasue the Product is postioned as the Beauty Enhancing Products rather than medciated product to addrss the skin problems. Due the Stong positioning of the product towards beauty it is Priced in a Premium category since women will be ready to spend on beauty enhancements. The Place of selling is through Super Markets and retail Outlets as the Women tend to Shop in the weekends and major part of the promotion is in the Women Magazines which they read upon. This Marketing Mix Suggest a New Business Model for their New Anti Aging Cream which Focus towards Higher end Women Cosumers between Age Group of 30-45

Business to Business - Laptop Selling through a Distributor

Introduction - A Company has a specific business model to sell his pre-cofigured or in other words Make-to-Stock model of laptops through its specified or authorized distributors

Product - A product Catalog will be provided for every month to the distributors on the new launch of the products and specifications across all models. A Sample or a demo machines will be provided to the Distributors On-Demand basis

Price - The Price will be postioned in accordance with the Payment terms from the Distributors .If the distributors are ready to pay on cash and carry ,the price can be postioned accordingly . Price Break can also be used as on of the parameter while price postioning

Place - The Success of the Laptop Manufacturer is mostly depend on the sucess of his distributor in the B2B model and hence a Strong Sales and Distrbution pattern has to be framed for the B2B Channels. Sales and Distribution involves Educating the Sales Force of Distributors

Promotions - Trade Promiton activites in the Print Media and TV Commercials to showcase the Distributor Names while screening the Laptop Advertisments.

Bottomline - This Strategy of Marketing Mix will be effective since the Product being sold is given with its specitcation to the Distributors before the launch and Price is distrbuted through Price break funcations across it various brands.This Pricing strategy gives a additonal benefit for the distributor to buy more.The Laptop Manufacturer also focus on educating the Distributor Sales force about its product on its own place which increases tge morale of the distributors and giving the name of the Distrbutor in TV commercials and Print Media as Autorized Distributors will imporve both the reach of the Laptop Manufacturer and also the Distributor ,This Marketing Mix will frame Business Startegy called as WIN-WIN solution