Question

The marketing mix elements are quite significant in creating the right marketing strategy and its implementation. illustrate how you would use the marketing mix elements to come up with the right marketing strategy or market offering for your courier service.

Answer 1

Marketing mix is one of the most important type of analysis which should be carried out on organisation to provide a report of the factors which are required to be succeed in the specific market segment.

Marketing mix for the my courier company are as follows

Product

Our courier company offer wide range of products including domestic shipping with availability of prime time as well as quick luggage delivery. Product would be offered in form of different type of shipment including large luggage shipments and smaller packets which are meant to be delivered from door to door. These products and services would also be helpful for our company to diversify our overall product range for every customer.

Price

Pricing of the products would be defined according to the size and shape of the specific shipment. Prime services would be expensive as they deliver the product faster and use faster channels like air shipment. Flower delivery options and economy delivery options would be cheaper than the premium services but the product would be delivered at a slower speed using Road Transport or other slow transport mediums which are less expensive and increase the profits of the organisation.

Place

Initially my courier company would be located at the prime cities of my country. After sometime when the business grew up, availability of the branches 8 4 cities would be expanded to the smaller cities using franchise options. Type of approach would help my courier company to reduce the overall cost and improve the market reach by increasing the network of the delivery availability options.

Promotion

Promotion strategy would include online identification of fast delivery services as well as projector customer feedback on the online and offline portals by keeping the prices low from the competitors. Is projection of the low prices would be conveyed across different mediums such as traditional medium of communication or the online website. Social media would also be used as a tool to create better impact on the customer with the help of the proper promotional tools.

By using and having an understanding of the above determined factors one can easily increase the level of revenue generated from the same market for my courier company. Expansion of the specific strategies would definitely help the courier company to clean the market to increase their overall product diversity and to improve the overall marketing condition.