Wednesday, March 24, 2010

Marketing Mix: Product, Place(distribution), Promotion, Price

"The product is the starting point in creating a marketing mix."-pg.131 Hair Lamb McDaniel-MKTG. Twenty One 42 cologne embraces that motive by using only the finest quality of ingredients around. I believe in quality before quantity, and by selling quality will in turn sell more quantity. From the ingredients to the bottling are all innovative and cutting edge concepts, and with acceptance of the first product, it's success rate, and with after-product market research, we should be able to introduce a product line that reaches out to the customers that were missed by the first product.

Place: Exclusively available at highend department stores, as to not let the place of sale denote it's value. I want our customers to experience class with style, and receive a sense of owning something they cherish and value to the highest degree, not feel ripped off, or taken advantage of.

Promotion: We will promote in-store as with the traditional fragrances on the market, also television ads, magazine ads, billboards, and the internet. Our bottling, for one, will set our product aside all competition on the display rack, creating a buzz by people grazing by. Curiosity from there should relish them into trying the smell, which then, should hook them like a fish, a must grab item.

Price: We are priced to please, as noted, we want to give a sense of value-not too low to where the customer feels cheap, and not to high to compete with those who are price sensitive. I feel around the $75.00 price range accomplishes this. Putting us up there with the best on the market while still being reasonable.

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