Marketing mix

My target market is very large because it will consist of lodging companies. For example, hotels, taverns, resorts, cruise lines, etc. Anything along the lines of housekeeping is who I am marketing to. As long as you have a door and housekeeping, you are include in our market niche. I am aware that the more specific you get about your targeted market the more accurate your sales and market efforts will be, but my company can satisfy the needs of a low cost hotel to luxurious hotel. The goal is…

Our world revolves around needs and wants from the time a person is born. The needs and wants of humans are continuing to evolve as time goes on. Marketing has continued to evolve since its inception in the late 1950s trying to keep up with the desires of the consumer (Bethel University, 2017). For instance, lipstick has evolved from a waxy, hardening, peeling material that made your lips feel like cracking which was the case with Covergirl Outlast Lip stain to a long-lasting, rich color, with a…

Costing and pricing methods reviewed Cost-orientated pricing Many small businesses determine their basic price based on their costs. The idea is to set your price high enough to cover your costs and still make a profit (Van der Walt et al., 1995). Cost-plus pricing Many small businesses use this method. Here you determine the cost of the product and then add a set percentage to the cost for the profit margin. This method is popular and easy to use. Assume you are the manufacturer of steel…

Segmentation and targeting There are 4 segmentation bases in marketing. They are • Geographic segmentation • Demographic segmentation • Psychographic segmentation • Behavioral segmentation Demographic segmentation Siddhalepa Company chooses the demographic segmentation as their main segmentation base. According to that base they are mainly concerned about the gender and age. According to the age Siddhalepa segments its products for small children and for elders. They consider about the age…

I. Item Description Many say that there cannot be life after death, but with the Bios Urn, ‘death’ is objectionable. The Bios Urn is a decomposable urn made from “coconut shell, compressed peat, and cellulose” which is used to encase the cremated remains of both humans and pets (Navarro). The dimensions of the Bios Urn measure at “16 x 16 x 33 cm”, have a capacity of five point eight pounds, and features a medium, which is utilized to grow trees and plants with the use of the cremated remains…

In this research, the authors propose a scale of second-hand shopping motivations. Guiot and Roux reveal 4 categories of shoppers, which are Regular shopper, thrifty critics, polymorphous enthusiasts and nostalgic hedonists. Furthermore, they evaluate the function of these shoppers’ motivations and its implication for designing and retailing strategies. Prior to their study, the authors explore the historical context of second-hand market. In short, they assert that second-hand consumption grew…

Compare and Contrast a Four Ps of Marketing Versus the Value Approach The four Ps (product, promotion, place, and price) are focused on two different sorts of approaches, the traditional marketing and value. Marketing has changed quite a bit since the four Ps were established in the 1950s. Therefore, the four Ps had to adapt to meet what today’s consumers and economy need. The four Ps are a very easy process to follow. Product is what you are selling, promotion is how to portray the product to…

In order to know whether the new technology could satisfy customers, the model Technology Acceptance Model is going to be used to find out the reason. TAM was firstly developed by David(1989), which is used to study consumer’s acceptances to the new technology. There are four variables in this model: perceived usefulness, perceived ease of use, attitude toward using, and behavioral intention to use. Fig. 2.1 Technology Acceptance Model (David, 1989) According to David(1989), perceived ease of…

The CVF model has four dimensions and is categorized by internal-external and flexibility-control. The internal orientation focuses on the integration of activities, development, coordination and collaboration. The external part focuses on the market, what is possible with the latest technology, what competitors are doing, and what customers seem to want. Each company, depending on what arena they operate in, will lean more towards internal or external than the other but it is necessary to…

Advertising Budget is the amount of money which has to be spent on advertising for a brand to promote it, help reach its target audience and rake in profits for the company. But before the advertising budget is decided upon for a company, one has to take a note of the favourable and unfavourable market conditions which will have a direct impact on the advertising budget. The following are the conditions that have a direct impact on the advertising budget. 1. Frequency of the Advertisement This…