It include things such as: packaging, quality, warranties, branding and after- ales service. Product lifestyle: Introduction = high cost, no sales Launch = high expenditure on promotion and product development Growth = sales increase Maturity = sales stabilizes, less expenditure on promotion needed Decline – sales decline, extension strategies can be adapted or the product withdrawn Extension Strategies are used to increase or maintain the sales.
They include: modifying the product reducing the price adding a feature promoting to a different market sector The Britain’s company extension strategies is to buy a new brands like Tango room Beaches and that’s how they got the Pepsi and JP, then they added Robinsons, Orchid Drinks, Aqua Libra and Puddles brands. It will developed the company and increase by buying brands like JP and Pepsi. JP and Pepsi are the most recognizable and their are number one in Uk . Britain planning to launch a Tango variant called Tango Clear without sugar, which was designed to attract older customers as a healthy product.
Place – Place is also known as channel, distribution, or intermediary. It is the mechanism through which products are moved from the manufacturer to the nonuser. The Britain company using business to business strategy and distribution channels are: manufacturer -? wholesaler – retailer – consumer and manufacturer – retailer – consumer. Britain does not have own shops to sell product like Manufacturer – Consumer. Price – This refers to the process of setting a price for a product, together with discounts. The price need not be monetary; it can be exchanged for the product e. G. Time, energy, or attention.
Methods of setting prices optimally are in the domain of pricing art. Promotion – This includes advertising, sales rumination, including promotional education, publicity, and individual selling. Branding refers to the assorted strategies of promoting the product, brand, or company. AID By following it the company can do successful promotion of the product. It contains: A = Attention = Interest D = Desire A action The Britain’s promotional methods may depend what type of promotion may attract the biggest number of customers. The company wants to get as much targeted audience as its possible and sell as many products as they can.
Product mix and individual products If you understand how to manage the product life cycle for individual products, then you will be in a better position to manage the firm’s entire product portfolio to ensure that the overall mix of products generates the highest possible returns for the firm. Products entering decline must be balanced with products that are in their growth and maturity phases. This is the only way the firm can maintain stable levels of overall sales and profits. Individual product life cycles must complement one another. Britain produces Pepsi, fruit shoot, tango, pup, Purveys etc .
Coca cola is producing high quality and attracting customers. So both companies are famous due to high quality production and price. The product mix is often crucial when determining a product or brand’s unique selling point (the unique quality that differentiates a product from its competitors). Some suggestions for Britain: Provide good taste Reasonable price Satisfy their customers High quality production at reasonable prices Distribution Channels Distribution channels moves products and services from businesses to the consumers and to other businesses.
A path through which goods and services low in one direction. A distribution channel can be as short as being direct from the vendor to the consumer or may include several interconnected intermediaries such as wholesalers, distributors, agents, retailers. Each intermediary receives the item at one pricing point and moves it to the next higher pricing point until it reaches the final buyer. The juice which is manufactured by Britain can also be purchased from retailers such as Tests, Sad, and Ginsburg. Pricing Methods A method adopted by Britain to set Its selling price.
It usually depends on the Meany’s average costs, and on the customer’s perceived value of the product in comparison to his or her perceived value of the competing products. Different pricing methods place a varying degree of emphasis on selection, estimation, and evaluation of costs, comparative analysis, and market situation. For example when Britain sets a price, firstly they should ask is, can everyone afford that price? So, Britain should maintain their prices according to the product and also the company should adopt the skimming strategy. This means charging a higher price for the new product for a limited erred of time.
Promotional Methods Shown are ways to promote the product of Britain: Advertising Public relations & sponsorship Personal selling Direct marketing Sales promotion If Britain chose a high quality product for their customers, their customers wants and needs would be fulfilled which would create a good relationship between Britain and the customer. The main factor that would affect Britain’s decision of product mix and individual product is increasing Britain’s profit margin. The main effect of the distribution is that if Britain sell their product room manufacturer to consumer it is the most efficient methodology for doing business.
The main effect of the pricing method is for Britain to have their products reasonably priced to keep their customers happy. The main factors on the promotional method would have a positive effect on business so therefore an increase in profits. The importance of the following in Marketing: Process – is important to deliver marker quality service. Services being intangible, processes become all the more crucial to ensure standards are met with. Process mapping ensures that your service is perceived as being bendable by your target segment. Having an established, step-by-step way of doing things.
How the process takes place? How it is working? Such as distributing from one place to another. The Britain company be ensure if their product is fresh, well packed and has good quality for responsible price for their customers. People – is crucial in service delivery. The best food may not seem equally palatable if the waitress is in a sour mood. A smile always helps. Intensive training for your human resources on how to handle customers and how to deal with contingencies is crucial for your success. The impact that people can have on marketing cannot be underestimated.
And it’s most obvious; this element covers the sales and customer service staff who have a direct impact on how the product is perceived. Britain taking care of the staff working for their company. Company need to train staff to ensure that they will deliver the best service or do the best job in Britain company. Britain’s staff need to be capable of delivering quality on time which means they need to be highly trained and co-ordinate, as do the process. The physical Environment – sends important signals to all of the hospitality organization’s stakeholders, but most importantly to customers, according to their ages, needs etc.
It is the process where we can know about all the physical matters of the company like what the infrastructure of the company is and what kind of physical product they use for the packing of the product. In case of Britain Its customer service in the shops and everywhere where Britain company product is selling. The physical environment may not be important pr Britain’s customers but if their factories are poorly maintained, this can have adverse effect on the overall staff morale.
