Impact of the Application of the Marketing Mix on Consumer Behavior
17 Pages4452 Words51 Views
Added on 2021-05-31
Impact of the Application of the Marketing Mix on Consumer Behavior
Added on 2021-05-31
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Running head: MARKETING
MARKETING2Table of ContentsIntroduction.................................................................................................................................................3Marketing strategy.......................................................................................................................................3Market segmentation and target market...................................................................................................3Positioning approach...............................................................................................................................4Impact of the application of the marketing mix on consumer behavior.......................................................4Ideas for the products and Services.........................................................................................................5Different levels of product.......................................................................................................................5Pricing strategy........................................................................................................................................7Distribution strategies..............................................................................................................................8Promotion strategies................................................................................................................................8Role of marketing in embedding principles of sustainability, ethics and social justice within an organization Submission............................................................................................................................11Conclusion.................................................................................................................................................13References.................................................................................................................................................15
MARKETING3IntroductionThis report presents the marketing strategy such as market segmentation, target market, and poisoning approach. It also discusses the impact of using marketing mix on the purchasing behavior of customers. This report also evaluates the ideas for products and service. It also demonstrates the product, price, and place and promotion strategy. It also explains the extended marketing mix strategy for the company. In the last, it explains the role of marketing in implementing the principle of ethics, sustainability, and social justice. Marketing strategyMarket segmentation and target marketDonalds Choco Company selects a particular market for boosting the revenue in the Australian market. This company deals in varieties of chocolate such as organic chocolate, Unsweetened Chocolate, dark chocolate and milk chocolate. Market segmentation has categorized into homogenous subgroups. This segmentation can be effective to choose the target market, which has similar traits, requirements as well as desires. It could be accomplished by using distinct marketing mix strategy. The main segmentation could be categorized as demographic, geographic, behaviouristic as well as psychographic (Armstrong, Kotler, Harker, and Brennan, 2015). Target market of Donalds Choco Company can be segmented on the basis of the following factor: Geographic segmentationDonalds Choco Company will choose the different urban areas of Australia to sell their product. Since, in Australian urban areas, customers create more demand for dark chocolate hence there
MARKETING4could be chances of increasing the customer’s demand towards product of Donalds Choco Company. Demographics: AgeDonalds Choco Company will target the customers of different age groups such as 20-24 and 25& above. These age-groups of customers will highly purchase dark chocolate as compared to other chocolate. However, these age-groups of people make effort to compare the quality and price of the product and also gives preference to healthy chocolate. As a result, the company should make the premium quality products as well as price sensitive policies for target customers. This innovative product would be beneficial to meet the needs and requirements of customers due to superior quality as well as affordable price (Goworek and McGoldrick, 2015). Target market The innovative product also leads the customers with respect to Donalds Choco Company as it will provide the affordable range of products in the chocolate market and also delivers the healthy product to customers. Therefore, the target market of Donalds Choco Company for this innovative product is young people who want healthy lifestyle (Sheth, and Sisodia, 2015). As a result, it is leading opportunity to beat the competition in the Australian chocolate industry. Positioning approachDonalds Choco Company will focus on customers who make the desire for a healthy lifestyle in the Australian market. It will deliver the fresh as well as quality products as it has higher demandin the marketplace in the present scenario. It will create the positive picture amongst the customers by making innovative healthy chocolate and giving the added value to customers. As aresult, the targeted customer will be ready to pay a high price for buying the dark chocolate (Jha, Saini, and Kaur, 2017). This innovative product will create a unique image and pull the attention
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