MARKETING MANGEMENT

Assignment

Assignment

Executive Summary

Marketing Mix by definition is, “having developed a strategy, a company must then decide which tactics will be most effective in achieving strategy goals. Tactical marketing involves creating a marketing mix of four components is product, price, place, promotion—that fulfills the strategy for the targeted set of customer needs” (Marketing Mix Planning, 2008). The first element of the marketing mix is the product. The product is the good or services that the business is trying to sell. When businesses are selling the product, they have to discover to which whom the product is going to target (Bruner, Hensel & james, 1992, p.47).

The main thing, which includes in any product, is functionality, appearance, quality, packaging, brand, warranty, and services or support of the product. The product has two elements, which are tangible and intangible. Tangible are those things that customers can touch, see, feel, smell, or taste, for example a burger and fries. Intangible are elements that are not touched by the senses, for example price, or the organization making the offering. JD sports introduce their products without having any market survey; they just work collaboratively with their suppliers in introducing new brands and fashion of sportswear, which get fame easily.

Price includes the list price, discounted price, provisions, financing and leasing options. These are the elements, which a customer pays; which includes direct costs as well as indirect costs. The cost must be worthwhile enough for the customer to make the purchase. The pricing strategy that JD sportswear adopted is to buy the product material in bulk which lowers their cost of buying as they get discounts on it. Secondly, JD continuously improves the proper usage of the material in an efficient manner, which reduces their product wastage.

Place consists of channel members, channel motivation, market coverage, locations, logistics and service levels. The place is where a customer receives the service, program or product. The consumer buys all the resources including the place of delivery. The placing strategy that JD adopts is that it creates such an attractive environment in its retail outlets, which persuade every potential customer to buy their products. JD places it products on the puppets of sportsmen, which creates a good impression on their customer. JD also places its products through online selling.

A promotion comprises all forms of interaction you use to communicate the advantages of your proposal to the target markets. Some, such examples are advertising, personal selling, public relations, message, media, budget, and word of mouth, which are considered as a powerful promotion. JD promotes its products through above the line and below the line promotion.

Key Areas of Research and Sources

Today, many of the companies are approaching social media networks such as face-book, twitter to target a large audience at a time in a cheap way. Organizations are also advertising their products through sending emails no matter they are local or international users. In addition to this, organizations adopt this marketing strategy to compete with their competitor in the ...