Information and Marketing Mix- Vivah

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Added on 2019-09-16

Information and Marketing Mix- Vivah

Added on 2019-09-16

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VIVAH: LOCATION STRATEGY 1A PROJECT REPORTONVIVAH: LOCATION STRATEGY

Vivah: Location Strategy 2Table of ContentsQuestion 1. Information and Marketing Mix...................................................................................3Question 2. Competitive Advantages and Disadvantages...............................................................4Question 3. Other Sites....................................................................................................................5References........................................................................................................................................6

Vivah: Location Strategy 3Question 1. Information and Marketing MixVivah has been able to place its products in the market successfully through its unique marketingstrategy. With the changing market trends, Vivah must also develop a new marketing plan in order to retain its existing customers and develop new customer base. To become acquainted with the latest marketing trend, Vivah must seek information about its competitors and customersin the market. This would help the brand to understand the need and requirements of the customers and then cater it accordingly. A feedback form could be provided to every customer tounderstand how they perceive the current services of the company.Marketing Mix: 4 PsMarketing mix is one of the marketing tools being used by the companies to achieve their marketing goals and objectives (Baker & Hart, 2016). Product, price, place and promotions are the 4 Ps of marketing mix that assist in the development of marketing plan (50Minutes, 2015). ProductVivah offers a range of jewelry products that include earrings, bracelets, necklace and rings for the age group of 35 – 55 years of ladies. Now, Vivah could launch a product range that would cater to the young audience of age group 16 – 24 years’ ladies. Vivah could develop trendy earrings, bracelets and rings that are preferred by the college students. Once the young girls are attracted towards the Vivah jewelry, the company could also bring forth products such as pendants, trendy chains, bracelet watch, hair accessories and other accessories of girls. PriceThe new range of products would be developed for girls of the age group 16 – 24 years. In order to attract large number of college girls, Vivah must offer jewelry at very affordable prices that these girls can buy. Since girls of this age group are either dependent on their pocket money (from parents) or part time job, therefore, they cannot afford high prices for their accessories. Thus, economical pricing strategy must be applied here as per the need and requirement of the customer (Baines, Fill & Page, 2013).

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