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THE MARKETING MIX, BRANDING, PRODUCT:, PRICE =, It can also help attract…
THE MARKETING MIX
The marketinf mix consists of four main factors, known as '4 Ps' : product, price, place and promotion. All this elements are equally important, in fact one incorect choice could mean the fail of the product.
There is actually another P which is the pacaking.
The right packaging can make a product stand out from its competitors with maybe the shapes, packaging material and labelling materials
BRANDING
is one of the ways that companies try to differentiate their business and make it stand out. A brand is the idea or image that consumers have of a particular product on the market.
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An important aspect of branding, is the creation of a brand name:
A good one should:
-help create a positive image for the product
-be easy to say and spell
-be descriptive and truhtful
The difficulties increase when a company exports abroad because translations can create huge problem
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BUT branding can be an issue for for retailers. Some large supermarket create brands for the products they sell (Esselunga---> esselunga top)
PRODUCT:
each product has different elements that distinguish eachother : it can be shape, colour and size.
And this differences can be used to promote the product. Even branding can be used for this cause.
A brand name is a trade name that can be used only by the firm that has registered it.
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PRICE =
The price of the product can depend on interenal factor, such as the cost of production, or external factors like the price of others products. (external are often more important)
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PLACE
It refers to how products are distribuited and the point where they are put on sale to customers.
Companies need to consider hwo and where the target market prefers to shop (traditional or online)
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For example Tesco faced legal threat over marketing its food with fake farm names.
The names are misleading consumers because the meat products are not sourced from these individual farms.
Tesco uses this fictional british names to make its products seem local even though some of the foods are imported from other countries.
For example Mercedes-Benz entered the chinese market under the name 'Bensi' which in chinese means 'rush to die'. So the company quickly cjaged it to 'Benchi' , run quickly as if flying.
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SUSTAINABLE PACKAGING
Many consumers are more sensitive to sustainability issues. As a result many companies began to use a nre packaging methods to reduce environmental impact.
Packing peanuts are a good solution for fragile items and are made from starch. This means thar they are biodegradable and dissolve in minutes.
Unfortunately most packaging are made from plystyrene which cause harm and takes year before it decompose. Can also damage marine creatures.
Dry ice is another good option as an alternative for driven refigeration. It can be used for shipments of perishable items and does not present a new source of emission.
But it can be harmful if coming into direct contact with it.
however this fake brand names end up damaging the real ones.
For example Woodside farm, a pig farm in nottingham, is often confused as a supplier for Tesco because the supermarket chain uses a similar name.