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

Foundations of Marketing - Essay ExamplePrice - harvest-festival packaging plays an important role in per unit price of a 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 harvest-festival depending on their consumption capacity and budget.Place - Chocolate and confectionery shops are the foremost selling locale of chocolates. World-known brands are available in retail shops, like supermarkets and convenience stores, for easy and mass consumption use the distribution channels in expeditiously delivering their products to the end consumers. Customised chocolates are sold in chocolate shops. E-commerce likewise provides a virtual venue in chocolate shopping. While world-class chocolate manufacturers, because of its mass action and distribution method transact in business-to-business setup, majority of loc al chocolate shops conduct business to mortal 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 modify approach, using promotional offers and the Internet. 2. Positioning Map With this position map, we can see how the each chocolate secu cuss can effectively execute its trade efforts. Upon knowing their current position in the business milieu they are in, they can create 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 perspective 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 should heavil y rely on advertisement and other mass promotional schemes to market diversified products that will cater to the varied segments in the global market. Their globally known brand names and extensive production capacity brought to the highest degree 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 inflexibleness with regards to the variations in the market. Even a minimal shift in the offspring of population or preferences of customers can create marketing problems, which if not addressed immediately can vastly affect the companys marketing campaign. Another problem of concentrating marketing activities in a ace market segment is its difficulty in market expansion. There is a tendency for the firm to be stuck in a single consumer base, which can entail vulnerability to profit l oss, especially in 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, pick out the localisation and segmentation of their marketing campaign in a particular country.