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A marketing plan of imc to increase market share

Product A product is seen as an item that satisfies what a consumer in the target market needs or wants. It is a tangible good or an intangible service. Tangible products are those that have an independent, physical existence.

Typical examples of mass-produced, tangible objects are the car and the disposable razor. Every product is subject to a life-cycle including a growth phase, followed by a maturity phase, and finally an eventual period of decline as sales falls. Marketers must do careful research on how long the life-cycle of the product they are marketing is likely to be and focus their attention on different challenges that arise as the product moves through each stage.

Price The price is the amount a customer pays for the product.

  1. Typical examples of mass-produced, tangible objects are the car and the disposable razor. Providing a price to the consumers is important as it should be affordable to the consumers and at the same time it should bring profit also by increasing sales.
  2. Companies may adopt strategies like lowering the price to penetrate in to the market and once it wins the customer good will tactically it can increase the price either by new brands or improving quality related methods. Where some of these elements adds to the advertising and publishing.
  3. The product or services a company has to decide which will satisfy customers as it is provided as per consumer requirement. Tangible products are those that have an independent, physical existence.
  4. Skimming means to price the product highly to increase profits.

The price is very important as it determines the company's profit and hence, survival. The marketer should set a price that complements the other elements of the marketing mix. Skimming means to price the product highly to increase profits.

Promotion Promotion represents all of the methods of communication that a marketer may use to provide information to different parties about the product. Advertising covers any communication that is paid for.

What is the marketing mix and how marketers use it to increase the market share?

Sales staff often play an important role in word-of-mouth and public relations. Place Place refers to providing the product at a place or places which is convenient for consumers to access it. Place is synonymous with distribution. The product or services a company has to decide which will satisfy customers as it is provided as per consumer requirement.

Providing a price to the consumers is important as it should be affordable to the consumers and at the same time it should bring profit also by increasing sales. Companies may adopt strategies like lowering the price to penetrate in to the market and once it wins the customer good will tactically it can increase the price either by new brands or improving quality related methods. Companies know very clearly that without promotion methods their efforts to reach desired target will be in vain.

Innovating new techniques for promoting goods is important as it usually done through advertisement in the medias, bill boards, exhibitions, trade fairs and other events. Choosing the right place is important as it should be easily accessible to the consumers and convenient for the companies to do its activities effectively.

DistributionThe promotional mix consists of a number of elements, including: Where some of these elements adds to the advertising and publishing.