Marketing

Marketing

Marketing

Introduction:

In this report we are going to launch a new perfume by the pop star Lady Gaga in the market . In this report I am going to discuss all the important factors that shoubd be considered while marketing this perfume in the market.

Discussion

Product, price, place, promotion are the maost important factords while marketing this perfume…these are the 4 P's, otherwise known as the marketing mix. Amarketing manager's goal should be to make conclusions considering the marketing mix that rotate round the customer. As noted previously, if the befitting decisions are made concerning the marketing mix, then the business will create a perceived value in the marketplace, creating a demand for its products and services.

It should be noted that when consumers accept as true that one company's merchandise is the best on the market, that business utilized its devices and resources to conceive the best likely marketing mix and developed a positive answer in the target market. (Calantone 2004)The marketing mix should be consistently reviewed and revised to meet the changing needs of the consumers. If a business becomes complacent and doesn't reconsider its marketing blend for revisions required, other businesses will surpass it in the future and the demand will shift. It is critical for marketing managers to have a clear comprehending of the 4 P's, what their customers desire and need, and how to translate the data obtained into usable data. (Schmidt 2000)

The first P' is product. The product is the substantial, personal merchandises and/or services that a business offers to buyers . There are numerous merchandise founded conclusions that marketing managers need to address when working out the best marketing mix. (Prahalad 2003)

The second P' is pricing. When marketing managers make pricing conclusions, they should take into concern the company's yearned earnings margins and ...