Let us start the Omega Marketing Mix: Omega SA is a brand that is well known across the globe mostly for its premium watches. People generally connect these watches with the social status.
Product, Price, Place, Promotion — Essay Sample Marketing decisions made by a company when shaping a suitable proposition for the potential customer can be organized into four major groups.
These are Product, Price, Place and Promotion. The actual meaning of those four is creating the right product, selling it at the right price and in the right place, with the use of the most effective promotion possible.
When being in the process of bringing some particular product to the market, the organization is supposed to make choices concerning the product that will eventually influence the effectiveness of a chosen strategy.
The choices that are made concerning the product can be: To define what the product is supposed to represent questions may be asked like: What requirements does it satisfy? How and where will the customer exercise it?
What does it look like? How is it different from the one product of your competitors?
It is no secret that each person pays a lot of attention to the price of the product being bought. Each customer weights benefit the product is to bring versus its cost in order to make a wise decision.
It is also important to mention that while all the other three aspects of marketing mix are costs, price is the only one which creates sales revenue. The possible decisions marketer is making concerning the price are: The questions that can be asked in order to understand the pricing element better are: What is the value of the product or service to the purchaser?
Is the client price sensitive?
What discounts should be proposed to customers, or to other particular segments of your market? How will your price contrast with that of your competitors?
Delivering the right product to the proper place at the right time requires creation of a distribution system. Once again, the choice of convenient distribution methods depends greatly on present circumstances. Understanding of this particular element of the marketing mix can be obtained if giving answers to such questions as: Where do buyers search for your product or service?
In what kind of stored do they look for the product? How can you contact the appropriate distribution channels? What do you competitors do, and how can you benefit from that? It is concerned with presenting customers with information needed to make a decision.
The fact is that, even though being sometimes extremely costly, promotion can increase the sales significantly, so that advertising and other costs are spread over a larger output.
If being properly organized and successfully implemented, promotion can be extremely cost-effective. These are the questions that can be helpful when defining this particular element of marketing mix: Where and when can one get across your marketing messages to the target market?
How will you reach your audience in the most effective way possible? When is the best time to promote?
Is there seasonality in the market? How do your competitors promote their product and how can it influence your promotional strategies? Let's get your assignment out of the way.To sum up, according to my assessment of the research of the result, OMEGA did well in the promotion part of the marketing mix and that is the reason why OMEGA can stand erect in the watch market for a long time to come.
Marketing Mix: Product, Price, Place, Promotion – Essay Sample Marketing decisions made by a company when shaping a suitable proposition for the potential . proposal of marketing?
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Marketing Mix of Omega analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion). Omega marketing mix explains the business & marketing strategies of the brand.
OMEGA Ladymatic is a high-end market product, which is worth up to ten thousand on average price. However, most inexpensive and medium-priced watches used mainly for timekeeping are electronic watches with quartz movements. If the price of OMEGA Ladymatic is changed suddenly, it will stimulate the market and consumer demand a lot.
Essay: Essay’s marketing mix Every company has a different technique or way that contributes to their success. For some, it is the way they advertise their products/services and for others it is way the product/service is presented to the customers.