Foundations of Marketing Essay Example | Topics and Well Written Essays - 1250 words

Foundations of Marketing - Essay ExamplePrice - Product packaging plays an important role in per unit price of a drinking chocolate brand. The availability of bite-sized, large-sized and a bag of chocolates packaging for world-known brands enables price flexibility and affordability. Using this packaging strategy, consumers can easily avail of the product depending on their consumption skill and budget.Place - Chocolate and confectionery shops ar the foremost selling locus of chocolates. World-known brands are available in retail shops, like supermarkets and convenience stores, for easy and bunch consumption using the distribution channels in efficiently delivering their products to the end consumers. Customised chocolates are sold in chocolate shops. E-commerce also provides a virtual venue in chocolate shopping. While world-class chocolate manufacturers, because of its mass production and distribution method transact in line of reasoning-to-business setup, majority of local ch ocolate shops manage business to individual transaction on the web. Promotion - Global chocolate producers use the push strategy in promoting their products. It is by advertising via the mass media that they are able to promote their product. Local chocolate producers utilise more personalised approach, using promotional offers and the Internet. 2. Positioning Map With this position map, we can see how the separately chocolate firm can effectively execute its marketing efforts. Upon knowing their current position in the business environment they are in, they can have ways to maximize their promotion to this defined segment and act efficiently to this. Let us take the above position map to expound on the benefits of positioning a company. Based on the map above both Cadbury and M&Ms should heavily rely on advertisement... Foundations of MarketingLet us take the above position map to expound on the benefits of positioning a company. Based on the map above both Cadbury and M&Ms sho uld heavily rely on advertisement and other mass promotional schemes to market diversified products that will cater to the different segments in the global market. Their globally known brand names and extensive production capacity brought about by its global chocolate market dominance, they have the edge in doing business on a large scale. In spite of several advantages of marketing segmentation, there are still visible disadvantages of marketing segmentation. One of these is the possibility of rigidity with regards to the variations in the market. Even a minimal shift in the number of population or preferences of customers can create marketing problems, which if not addressed direct can immensely affect the companys marketing campaign. Another problem of concentrating marketing activities in a single market segment is its bother in market expansion. There is a tendency for the firm to be stuck in a single consumer base, which can entail vulnerability to profit loss, curiously i n the currently dynamic business environment. In short, mass marketing minimises a companys susceptibility to inflexibility to the ever-changing market. However, the present marketing campaigns of multinationals which are likely to perform this method because of its capitalization on the benefits of economies of scale, involve the localisation and segmentation of their marketing campaign in a particular country.