Information and Marketing Mix- Vivah

Added on - 16 Sep 2019

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VIVAH: LOCATION STRATEGY1A PROJECT REPORTONVIVAH: LOCATION STRATEGY
Vivah: Location Strategy2Table of ContentsQuestion 1. Information and Marketing Mix...................................................................................3Question 2. Competitive Advantages and Disadvantages...............................................................4Question 3. Other Sites....................................................................................................................5References........................................................................................................................................6
Vivah: Location Strategy3Question 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 inorder to retain its existing customers and develop new customer base. To become acquaintedwith 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 thecustomers 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 theirmarketing goals and objectives (Baker & Hart, 2016). Product, price, place and promotions arethe 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 forthe age group of 35 – 55 years of ladies. Now, Vivah could launch a product range that wouldcater to the young audience of age group 16 – 24 years’ ladies. Vivah could develop trendyearrings, bracelets and rings that are preferred by the college students. Once the young girls areattracted towards the Vivah jewelry, the company could also bring forth products such aspendants, 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 orderto attract large number of college girls, Vivah must offer jewelry at very affordable prices thatthese 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 thecustomer (Baines, Fill & Page, 2013).
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