Introduction to Marketing Paper Editing Services
For study of the marketing mix, Joe Fresh has been taken. It is a retail chain of affordable and stylish apparel and accessories for both adult and children. The product line is available over the 300 Canadian super markets along with the standalone locations. It was started in the year of 2006. The tagline of the company works as point of attraction for the customer as “Fresh style. Fresh Price”.The main list of competitors of the company includes:
The selectedproduct Developmentfor marketing mix is accessories of women customers of the company and the prices of the accessories will be decided as per the target class of customers of the company. Since the tough competitors exist for the company it will be focus of the company to keep the prices within the buying capacity of the maximum number of the customers of the company. Since the company is dealing through online platforms the products of the company will be available to the customers to the vast areas. For promotion of the product of the company it will be using various effective strategies and social media platforms for effective promotion and marketing of the products. The entire product lifecycle of the product is designed keeping in view the importance and place that is reserved by the marketing mix.
The accessories for the women includes cosmetics, Hats, Scarfs, belts etc. The selected products will go through the various stages in the entire lifecycle. These stages starts with the introduction of the product and with this customers of the products increases on the continuous basis at the stage of growthand on a certain point of time the product stage will be stable i.e. maturity Stageand at this stage company will have to adopt the various strategies and thereby make the necessary changes in the product so that sale can be increase otherwise the sale of the products will decline(Business Case Studies, 2018).
Title:Product Life Cycle of Accessories
Source:(Business Case Studies, 2018).
For branding of the company Emotion strategy can be adopted as it will have more impact over the women customers as it mainly focuses on the trusts, joy, fear, sadness, anger and anticipation. Company will be using these tools for formulating the branding strategy. This strategy will help the company to differentiate the product of the company from the competitors as the branding strategy will be as per the expectations and the emotional aspects of the women only (Joy Fresh, 2018).
Out of the many accessories of the company “Print Squire Scarf” is selected and the prices of it have been $10. Whereas the same squire scarf is available over the competitor companyAmazon and the same is costing $2.95. For making the pricing as one of the component of the marketing mix, company is adopting the strategy of the Price skimming wherein the prices of the company for all the products and services are kept as high to give the impression to the customers of the company assurance about the quality and the brand image of the products of the company. The price skimmingbusiness strategygives the customer satisfaction of the brand and status. It gives the psychological satisfaction to the customers about the affordability and also as a mark of status. The brand oriented customers will be highly attracted by the price skimming strategy and the overall performance of the company will also be improved (Vizard, 2015).
The pricing strategy is the most focal point of the company in attracting the customers. The target customer of the company are the one who can afford high prices to satisfy the need of status symbol or to have psychological satisfaction of having the high quality product by paying high prices. It is general tendency of the customer that the products for which customers are charges less prices are not of good quality and this decrease the level of customer satisfaction (Smriti Chand, 2018).
For making the promotion of the product and services that company renders it uses en number of marketing tools since the promotion is one of the components of the marketing mix of the company. The various tools of the marketing and promotion include advertising under which the mass media communication technique will be used for attracting and promoting the products and services of the company. Public relation will also be used for the promotion of the product and effective and friendly relations will be maintenance with the customers of the company. Promotion design will also be used as a tool of promotion of the product sale in the short term period. Internet marketing is also another effective and most important tool of the promotion of the products and services of the company. Social media will also be used by the company for giving the tough completion to the competitor companies (Learn Marketing, 2018).The promotional tools are used by the company for different purposes like new changes in the product of the company.
The exclusive features of the company are also introduced on the basis of demanding trends of the company. The feature that distinguishes the company’s products from the other competitor is also used for the communication of important message to the customers of the company (Business Dictionary, 2018).
Conclusion and Recommendation
The promotional tools and techniques will be the success deriving factors for the Joy Fresh. The consideration of the marketing mix 4ps must be considered for the promotion of product and services of the company. The marketing tools like promotional strategy, pricing strategy etc. will be helpful for the company in making the competitive advantages. The key marketing mix tools must be used fornetwork designingthe product life cycle of the company. Selection of the competitive strategy also have to be done by keeping in view the role of 4ps and the level of the competition that exist in the trading sector of the company to get the advantage of in monetary and on monetary forms.