Strategic Marketing: Growing Virtual Reality Headset with Mix

This presentation provides an overview of marketing principles applied to Virtual Reality Headsets, specifically focusing on the marketing mix elements. It discusses product decisions, highlighting the three layers of a product (core, actual, and augmented) and the product lifecycle stage of VR headsets. The presentation also covers pricing decisions, including the psychological pricing policy adopted by Oculus, and explores different pricing tactics like odd value pricing. Furthermore, it examines place decisions, focusing on distribution channels and intensity levels, using Oculus VR's internet-based distribution and exclusive distribution intensity as examples. Finally, the presentation delves into promotion decisions, detailing various promotional strategies and methods used by companies to enhance awareness and generate sales. The content is supported by a list of references, providing a comprehensive understanding of the marketing strategies applicable to the virtual reality headset market. Desklib provides students access to similar solved assignments and resources.

MARKETING
PRINCIPLES
Virtual Reality Headset

Introduction
 The marketing mix is one of the essential
tools for making effective strategies for
marketing and their execution with the help
of operative tactics. This marketing principle
helps in defining the right marketing
strategy for the organization (Richter, 2012).
 The purpose of this presentation is to
highlight the use of marketing mix elements
for framing different strategies for the
growth of Virtual Reality Headset.

Product Decision
 An item that is presented for sale is known as a product. It
could be in the form of a physical item or virtual service. All
the products or services are created at some cost and sold
at a price (Banfield, Eriksson and Walkingshaw, 2017).
 For this presentation, Virtual reality headset of Oculus
Company has been selected.

Three Layers of Product
 Generally, we think that a product is just a
physical item that is offered for selling. However,
the product is comprised of three layers that are
Core Layer, Actual Layer, and Augmented Layer.

Product Life Cycle

Product Life Cycle
 Product lifecycle is comprised of different
stages through which every product goes
through. Different stages of product
lifecycle are introduction, growth, maturity,
and decline (Stark, 2015).
 Virtual Reality headset is presently at the
growth stage due to its unique services
and increasing demand in the market
(West, 2016).

Price Decision
 The quantity of amount demanded by a
vendor of goods and services is known
as price (Wilkins, 2011).
 Oculus has adopted the Psychological
pricing policy for vending its Virtual
Reality Headset according to which
these devices are affordable for every
customer.

Pricing Tactic
 Price is a key factor that has an impact on
the purchase behavior of the customer.
Hence, businesses take help of different
tactics of price, also called as strategies of
pricing that support in increasing profits,
sales and achieve a higher share in the
market (Wilkins, 2011).
 Oculus make use of Odd value pricing to
increase sales and attract more customers.

Place Decision
 A distribution channel is said to be a
chain of intermediaries by which a
service or product reaches to its end
user. It is comprised of retailers, internet,
wholesalers, and distribution (Dent,
2011).
 The Virtual Reality headset of Oculus
VR is distributed with the help of the
internet among the customers.

Distribution Intensity
Level
 The distribution intensity discusses the
level of availability of the product in the
targeted market. The distribution intensity
level the marketer selects is mostly based
on the factors like size of target market,
production capacity, promotion, and pricing
(Lamb, Hair and McDaniel, 2018).
 For the distribution of the Virtual reality
Headsets Company has adopted exclusive
distribution intensity.

Promotion Decision
 In marketing, promotion means a type of
marketing communication utilized to
encourage customers of the product.
The purpose of promotion is to enhance
awareness, generate sales, or increase
brand loyalty (Cellich, C. (2012).
 Oculus VR organizes different
promotional campaigns for
communicating with the customers.

Promotion Strategy
 In order to promote the services and products in
the market, there are different methods present
used by the companies such as advertising,
direct marketing, publicity, personal selling,
public relation, packaging, etc. (Cellich, 2012)