Name
Roll number
Assignment No#1
Principles of marketing (mgt301)
Suitable mix Marketing
The suitable marketing mix includes individual and groups through Barter system. In the best marketing goods are available on right product, right customer, and right time right price with right promotion.
For example:
HOM Oil Company added a new product in its portfolio business the new item is
- Habit recipe mixes.
- Habib ready to cook.
- Habib plain spices.
- Habib curry king.
- Habib mayo meal.
- Habib tomato ketchup.
- Abeer super basmati rice.
The suitable marketing mix for HOM is four P’s:
· Product
· Price
· Place or distribution
· Promotion
Product
Ø In smaller packages demands of people product must be available at right place and demanding time.
Ø Keep its brand simply by focus on a small number of key brand values.
Ø Product should sell at that place after analyzing that customer needs this product.
Price
Ø Price should be set according to market price.
Ø Set price getting a profit and according to customer satisfaction.
Ø When new product is introduced the price is competitive of similar products.
Ø The technical approach is for profit in business is that the product must be sold on the lower price.
Place and distribution
Ø Advertisement must be important for selling product.
Ø Where the product is sell the place are suitable for selling.
Ø People must be known the product qualities or optimum distribution channels.
Ø Marketers must be looking the product place geographically.
Ø After these marketers must be looking the other distribution or charges like supply chain, army management knowledge, convinces, distribution, or go-dam.
Promotion
Ø Make sure every advertisement, brochure and letter helps reinforce the same message. If you have a logo, use it everywhere, but make sure the quality is consistent
Ø Marketers make its business profitable make notably through sales promotion, advertising, and public relations.
Ø In this option includes magazine ads, billboards, TV channels and radio web sites ads etc.
Ø For promote new item is that get know the media relation and its public relations.
· All this option the other impotent knowledge that is organizing or planning. If the analyzing or developing marking strategies are strong our business of oil mix is getting excellent profit. All the things like planning, place, and promotion and organizing implementing and controlling the marketing trying. After all that approach the HOM mix market is take a high position in the market.