Marketing Mix

This article discusses the marketing mix for a new product in the North American market, including the product features, pricing strategy, and customer service options.

Running head: MARKETING MIX
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Marketing mix
Name:
Institution:

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Product
As the North America economy improves and quality of life upsurges, young students and
bachelors incline to expend more time and cash on leisure events rather than performing their
housework (OECD, 2017). By addressing and understanding this need, dry cleaning appliances
will be recognized, offering door to door free supply charge.
The main components of the washer will be Smart Diagnosis, True stream, Touch panel, 16
Motion Direct Drive Washer Dryer, and WiFi regulation with holding volume of between 7kg
and 15kg. The hamper/washer/dryer is built in a manner that when it fills, a programmed clean and dry
rotation starts. The product is transparent and removes orders and sucks in fresh air. It begins to
start washing once the clothes have reached a certain limit it can hold. All the user has to do is
put clothes in and let the basket do the rest. The washer is stylish as it Wi-Fi enabled to help one
monitor it remotely. Once it is finished, it will alert one through email or text message to phone. As
the washer is very delicate, it will be packaged in concentrate and secure container. The container will
have graphic, text as well as label of the products and company’s logo. The label will contain the
company’s name, size of the product, holding capacity in kilograms, colour of the products, and
quantity.
The firm will have a brand name linked with devotion towards its user by offering high-quality
washers. The washers are made in a manner that they are compact in dimensions to occupy less
space and faster on an operation as they are designed with the latest technology (Strauss, Frost &
Sinha, 2014). These qualitative products have power saving mode for longer and better
durability.

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The product is new to North America where this type of innovation does not happen anywhere
else. The product will be offered at $1500, which will be quite affordable for young students and
bachelors. Consumers can select to pay either at the period of delivery or by the once-a-month
credit card billing. The firm will send a statement to each user, listing service charges for their
credit cards for payment, at the close of each month.
Apart from the washers being eco-friendly, the firm also will provide much service option to its
esteemed users. All the products have a limited warranty and come with at least one-year
services free choice. The user can also go for a maintenance contract years.
The washers come with a different FAQ booklet that offers product-related information (Khan,
2014). For any problem, the firm has customer care helpline where one can make a call to a
technician for solving the issue.
A huge range of company’s merchandize will supplement each other and therefore offers a user
with diversity. The company’s logo is of significance as it is distinctive and will communicate
the product’s importance to the consumer. During the business's promotion, the sales personnel
will be able to get a real-time response. Finally, the company will promote their produce through
online platform, and it will be in position to assess the users’ response ratings (Strauss, Frost &
Sinha, 2014).
Price
The company's price estimation must echo the expenditures of the young students and bachelor
due to the targeted demographic. The company intends to have a brand that will earn the trust of
the users through its products and policies. Amongst them is their pricing policy. An exact
pricing plan is supposed to be a gray zone that hovers between the profit maximization and the

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costs undertaken without exceeding the market expectations. For the company to come at a
specific approach, it will set up a unit that decides and evaluates the numerous expenses that
incur during the manufacturing and the possession of the goods by the user. Due to its
established distribution channels and resourceful warehouses, the business will be able to cuts
the price of its products by quite a significant margin (Lovelock & Patterson, 2015).
The product will be offered at $1500, which will be quite affordable for young students and
bachelors. Customers can choose to pay either at the time of delivery or by the monthly credit
card billing. The firm will send a statement to each user users, itemizing services fees and the
charge for the service to their credit cards for payment, at the end of each month.
The company will user price skimming strategy as it will set high price for its innovative washer
before the other competitors such as Samsung and LG come into the market. Additionally, the
customers are willing to purchase top value products due to enough disposable (OECD 2019).
After one year, the business will decide on competitive pricing policy for washers. Even though
there is no competition in North America for washing machine and dryer, the firm anticipates the
competition from Samsung and LG. However, the firm has done enough research to match them
scheme by scheme. In products where the sales will be not high, it will use penetration pricing
(Kotler & Armstrong, 2015).

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References
Khan, M. T. (2014). The concept of'marketing mix'and its elements (a conceptual review
paper). International journal of information, business and management, 6(2), 95.
[Online]. Retrieved on 22 March, 2019 from:
http://ijibm.elitehall.com/IJIBM_Vol6No2_May2014.pdf#page=100
Kotler, P., & Armstrong, G. (2015). Principles of Marketing-Global Edition. Pearson.2nd ed.
[Online]. Retrieved on 22 March, 2019 from:
http://lib.hpu.edu.vn/handle/123456789/23877
Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia. 2nd ed. [Online].
Retrieved on 22 March, 2019 from: https://books.google.com/books?
hl=en&lr=&id=BqyaBQAAQBAJ&oi=fnd&pg=PP1&dq=marketing+mix&ots=eIxQGP
vYGk&sig=UeQlPbejZEFnK_7iH8s06JLCDwY
OECD (2019). Organisation for Economic Co-operation and Development. Canada has high
levels of well-being an d solid growth but trade tensions and housing market pose risks
while inclusiveness could be improved. Retrieved on 22 March, 2019 from:
http://www.oecd.org/economy/canada-recording-solid-growth-but-trade-and-housing-
market-pose-risks.htm
OECD (November 2017). How’s Life in Canada?. Retrieved on 22 March, 2019 from:
https://www.oecd.org/statistics/Better-Life-Initiative-country-note-Canada.pdf
Strauss, J., Frost, R., & Sinha, N. (2014). E-marketing. Upper Saddle River, NJ: Pearson.
[Online].1st ed. Retrieved on 22 March, 2019 from:
https://crom0bld45408.storage.googleapis.com/EgMPfalRb8nnKQe3vj08.pdf

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