Question

I have a product I need to market in the Kingdom of Saudi Arabia I wrote most of the main points but it remains only for me:

1. Marketing Mix (4 P’s ) Analysis

Describe each of the 4Ps of your chosen company.

Product or Service

Identify the product or service by what it is, who will buy it, how much they will pay for it and how much it will cost for the company to produce it, why a consumer demand exists for your product, and where the product sits in comparison to similar products/services now available.

Place

Identify the location of the business, why it is located there (strategic, competitive, economic objectives), the expected methods of distribution, and timing objectives.

Promotion

Describe the type of promotional methods that will be used. Identify techniques such as word of mouth, personal selling, direct marketing, sales promotion etc. television, radio, social media and newspaper ads.

Price

The prices of the products or services that reflects the overall company strategy. Should be competitive as well as a reflection of the quality, costs and profit margin.

Here is the description of the product I want to market for:

Mechanical is a relationship from Germany, who bargains in gadgets things. Here as a propelling chief, my thing is an electronic gadget called Eris and Gallelio, this contraption is utilized to give intuition. Here, I will extend the business in Saudi Arabia, subsequently, to this a showing plan is required.

Answer 1

I am although not clear on this question requirement but I understand the Student needs clarity on the 4P's of Marketing Mix and wishes to market his product i.e Electronci gadgets in KSA.

Marketing Mix is ideally a brilliantly coordinated combination of Product, Price, Place and Promotion strategies. These are the four decision-making areas in Marketing.Its purpose is to ensure the creation and execution of a successful marketing strategy; the attempt is to satisfy both the customer and the seller.

Product or Service: Any Electronic gagdets are products in the consumer electronics, gaming, entertainment and financial services markets. However, it is important that company uses a different categorization to properly group its various products. This element of the marketing mix is called the product mix, which identifies the firm’s products or organizational outputs. The following can be the main product lines in product mix:

1. Mobile communications
2. Game and network services
3. Imaging products and solutions
4. Home entertainment and sound
5. Devices
6. Pictures
7. Music
8. Financial services
9. Others

Place: This element of the marketing mix identifies the places or venues that the firm uses to transact with customers, to distribute and deliver products, or to allow customers to access the products

1. Retail Stores in the city market areas.
2. Authorized sellers.
3. Cinemas and media networks
4. Official websites
5. Ecommerce websites liek Amazon.

Promotion: This element of the marketing mix identifies the promotional mix or the methods that the firm uses to communicate with its target customers.

1. Advertising (most significant)
2. Public relations
3. Direct marketing
4. Sales promotion
5. Personal selling

Price : The pricing category can be defined as below:

1. Premium pricing strategy - For high end customers.
2. Market-oriented pricing - This pricing strategy ensures competitiveness, based on the prices of competing products.
3. Value-based pricing - In order to determine the appropriateness of some premium prices, based on actual product value and customers’ perceived value of the products.The strategies in this element of the marketing mix show the importance of high prices to ensure high profit margins and to support a premium brand image.