2. In relation to your answers in Part A, identify and discuss the possibilities for varying the marketing mix in relation to the new marketing opportunity. For example, looking at varying the price of the product or service, how would this affect promotion? Provide at least four different examples of how varying a marketing mix variable affects another part of the marketing mix variable.
Marketing Mix Varying How varying a marketing mix variable affects another part of the marketing mix variable
Product Increase company product lines, both business attire and casual apparel, including men and women’ pants, shorts, skirts, dresses, blouses, shirts, sweaters, vests, and more.
Pricy clothing accessories including hats, scarves, necklaces, socks, …show more content…
economic conditions, the political or legal environment, etc?
• Social and cultural forces: social and cultural factors refer to set of values and ideologies of a group, a nation or society . These factors have a significant impact on individual’s buying decision since people have different sets of habits, beliefs and principles which they have developed from their family background.
• Technological changes: these changes have big effects on clothes industry. Mobile technology and social media have changed the way customers share their opinions or show their experiences on purchasing products or services to others. This also gives customers different ways to purchase products and services in which they can buy clothes online through company website
• Demographic factors: this is the most popular of emergency trends that have big impact on company sales. This includes factors such as age, gender, income, occupation, education and nationality. Especially, age and income have significant impact on purchasing company products. For example, people who have greater income will spend more on company high quality products and unique designed …show more content…
Marketing objectives / Target customer characteristics Impacts on the marketing mix
Marketing objectives: build up company brand name
• Impacts on distribution channels: DABC has to develop an image of its products and services in minds of customers with high quality products, sharp tailoring and unique characteristics that make customers are much more likely to remember. In order to do so, company also needs to expand its business on different distribution channels which can be accessible for customers
Marketing positioning: to be the leader in fashion industry
• Impacts on promotion: As most of styles of clothes are priced similarly to company competitors, DABC may need to offer promotion such as vouchers or coupons to its customers. By doing that, company can increase the number of customers, boost sales volume, maximise its profits and therefore take over its competitors within the industry
Target customer characteristics: individual members of the
Marketing Mix Varying How varying a marketing mix variable affects another part of the marketing mix variable
Product Increase company product lines, both business attire and casual apparel, including men and women’ pants, shorts, skirts, dresses, blouses, shirts, sweaters, vests, and more.
Pricy clothing accessories including hats, scarves, necklaces, socks, …show more content…
economic conditions, the political or legal environment, etc?
• Social and cultural forces: social and cultural factors refer to set of values and ideologies of a group, a nation or society . These factors have a significant impact on individual’s buying decision since people have different sets of habits, beliefs and principles which they have developed from their family background.
• Technological changes: these changes have big effects on clothes industry. Mobile technology and social media have changed the way customers share their opinions or show their experiences on purchasing products or services to others. This also gives customers different ways to purchase products and services in which they can buy clothes online through company website
• Demographic factors: this is the most popular of emergency trends that have big impact on company sales. This includes factors such as age, gender, income, occupation, education and nationality. Especially, age and income have significant impact on purchasing company products. For example, people who have greater income will spend more on company high quality products and unique designed …show more content…
Marketing objectives / Target customer characteristics Impacts on the marketing mix
Marketing objectives: build up company brand name
• Impacts on distribution channels: DABC has to develop an image of its products and services in minds of customers with high quality products, sharp tailoring and unique characteristics that make customers are much more likely to remember. In order to do so, company also needs to expand its business on different distribution channels which can be accessible for customers
Marketing positioning: to be the leader in fashion industry
• Impacts on promotion: As most of styles of clothes are priced similarly to company competitors, DABC may need to offer promotion such as vouchers or coupons to its customers. By doing that, company can increase the number of customers, boost sales volume, maximise its profits and therefore take over its competitors within the industry
Target customer characteristics: individual members of the