A NIVEA CASE STUDY: THE USE OF THE MARKETING MIX IN PRODUCT LAUNCH Question # 1: Evaluate the product strategy of NIVEA ( How it is good, different and unique from others). ANSWER: The first step to build any successful mix is to understand the market. NIVEA is one of those brands which use their research knowledge and understanding in developing a new product. NIVEA uses focus groups to listen to consumers directly and gather data from consumers through variety of research techniques and even through product testing. NIVEA has a competitive advantage over other brands as they all are usually problem focused and offer medicated solution but it is one of those brands which understand what its targeted audience wants.
Nowadays all companies need to deliver value to their target market and build strong customer relationship in order to have a successful ascendance. Businesses may choose to operate under five competing concepts: the product concept, the production concept, the marketing concept, the selling concept and lastly the holistic marketing concept. The most important step when deciding to advertise your company is to think outside the box. Being creative and open will help you advertise in the best way possible in order for people to keep in mind your
(Strength point)This point helps the company to gain many opportunities and face problems that threaten the company.Samsung strives to develop its products annually until it gets an excellent reputation for consumers in the market and the credibility and passion of staff for their work and diligence significantly helped to produce a product desirable in the market heavily. (Weakness point) that the lack of mental strength will lead to weaknesses this is important in helping the company to improve the problem and set goals in points that need to develop and improve performance where the price of products compared with competitors. Example whenever a new electronic product has high quality and different features the price will be expensive and the rich layer is the one you will use the products. (Opportunities) exploit the strengths of the company will increase their chances; it is natural that the company has a lot of competitors. The company will continue to analyze opportunities for success, growth and development.
Through this competitive advantage Tesco has led to profit growth. The company can reduce costs and also reduce price because price ad service most important things to company which is they are extremely slick logistic organization. Many companies strive to holds the cost leadership. Like Tesco have advantage in holds the cost leadership. To maintain cost leadership, Tesco can strive to have the lowest costs in the industry and offer its products and services to a broad market at the lowest prices.
Whether it is residential, healthcare or sustainable energy, a practice must demonstrate a clear understanding of the specific market’s needs, develop the skillset required to satisfy such needs and effectively communicate this message back to the public. Murray (2012) emphasises the importance of having the right “communication strategy” in place and knowing what form of media to generate the right kind of publicity to a wider public. According to Murray (2012) the success of Le Corbusier, Norman Foster, Nicholas Grimshaw and other successful architects was their understanding of their client base and relevant media. The above architects published vast quantities of books, brochures and journal articles that used the “right images, right text in order to communicate their message across, to maximise the benefit to the practice” (Murray, 2012). Reinholdt (2015) supports this argument that having an understanding of the media of the market is crucial as “Each one says a little about the things each demographic values the most” (Reinholdt, 2015 p53) and understanding the media allows architects to “Craft your band to attract these people, and design your market strategy to appeal to their sensibilities”(Reinholdt 2015 p53).
Companies are now focusing on such of a group that are mostly small, but are highly influential, those are known as brand evangelist, and they embrace the brand in every possible way, publicize their highly positive experience to other consumers and eventually discourage other to try competitors brands (McConnel, & Huba 2003) .Brand evangelism is basically amalgamate of brand adoption and brand advocacy, which is defined as the active behavioral and vocal support of a brand including actions such as purchasing the brand, disseminating positive brand referrals, and convincing others about a focal brand by disparaging competing brands (Matzler et al. 2007). With a paradigm shift from 4Ps Marketing to Relationship marketing, a number of researcher have emphasized on adopting relationship marketing techniques (Gummesson 1994; Vargo, & Lusch 2004). Researcher fined that the positive or negative word of mouth marketing can change the consumer’s perception about the product (Becerra & Badrinarayanan., 2013). Defined that satisfied consumer become evangelist and do always positive word of mouth and recommending the brand to others to use (Rashid & Ahmad, 2014).
Marketing is considered as one of the crucial parts of an organisation to increase the market share and promote the company towards sustainability. The advertisements are essential for the organisations, as this enables companies to convey their messages that they want to offer to their targeted customers (Bilkey, 2015:76). There are several ways of marketing communication that are considered being the most effective one. In this case, it can be stated that traditionally marketing was mainly done through making advertisements on televisions, leaflets, magazines. However, with the passage of time, it was observed that the techniques of marketing have changed a lot.
This ability to deliver customized products to each consumer’s requirements at the cost of near mass production is the Holy Grail of retailing. Giving customers the opportunity to have a product anywhere they want it, any way they want it, and any time they want it, resonates extremely well with consumers. The number of mass customized products is gradually increasing as are the personalized services, and this is what we call Mass Personalization. By 2025, retailers must be able to support a highly various set of orders and distribution channels in keeping up with mass customized products and delivery methods. Except for traditional retail outlets, kiosks, Customers will want to order with their own computers and mobile phones and perhaps as-yet-unimagined channels.
And having done that, he helps them communicate more effectively. The only way to see the world through the eyes of a consumer is to get to know your target market. Once the target market is analysed, the needs and wants of the consumer will become clear and relevant. A brand needs to build authentic relationships with its customer this is where a strategist comes in to develop relevant, consistent and effective messages through the right channels. The way to do this is to define the brand and make it easily distinguishable from the next, the brand needs to be likable and memorable, the brand should be meaningful to its consumer this will create value, a brand must evoke positive emotional/personal experiences for the consumer this.
To explain the promotion mix that I will use for “Chai pe Charcha”, is as below : Firstly, to understand the promotional mix, it is one of the 4 P’s(Product, Price, Place, Promotion) of the marketing mix. It consists of public relations, advertising, sales promotion and personal selling and direct marketing. To imagine, we are an organization trying to go global or expand. We have carefully planned how your business will enter the new market, have we developed the right product or service, and believe you can offer it for a price that will be profitable. However, until we actually get to the real action and start selling our product, we need to take care of one important part of our business without which our business would not actually function, namely, our customers.