The Extended Marketing Mix Assignment Example | Topics and Well Written Essays - 2000 words

The Extended Marketing Mix - Assignment Example In order for customers to recognize your product, it is required to differentiate your product to highlight it in the eyes of the customer. Differentiation can be done on any basis; depending on what is more highly rated in your potential customer. The company on since it started working in 1981 has been focused on providing the best quality for their product. Crosland employed the method of carefully manufacturing various electronic goods such as amplifiers, tuners, record disks, cassette players etc and imported speakers from a relatively smaller shop and branded them with their own name. Since it relied on quality and produced specialized electronic equipment; they differentiated their product on this basis only. They provided quality services to their customer; the price was not their competitive factor. Distribution patterns are considered extremely important in marketing because no matter how beautiful and penetrating the marketing activities are, if the product is not available to the consumers when they ask for it, they will probably move to another product and start using it. Many products have failed due to the failure of the company to address the problem of proper and timely distribution of the product in the areas where there is extensive demand. The company under consideration was not paying enough attention to the changing marketing tastes and the ever changing consumer tastes and therefore, has started suffering in profits. The company had attained their advantage by providing quality products. However, because the world is becoming fast paced and the changes that are usually taking place in the minds of the consumers have dented the demand for their products. People are asking for more innovative products which are being provided to them by other competitive companies w hich have employed just in time production methods so that they stay in complete cohesion with the demand for their different products. The methods of the competitors have made them the market leader. Therefore in order to get their strategic advantage back, they need to employ such distribution methods that the consumers get timely availability of the product as and when they demand it. The improvement in their distribution channel should be done so that they can increase their customer base by increasing the customer satisfaction and convenience. They should improve their inventory management by increasing the introducing the just in time methods of inventory management; this method leads to quality improvement. Customers get better product in time and eventually they will be attracted to use the company's products due to timely availability and quality. As the company is already competing based on their quality, a little improvement in distribution patterns might help them in inc reasing the quality of their products and services to a much greater extent. Another strategy that they are using is exclusive distribution which in a way hinders the availability of product in all the markets (Elizabeth, 1996). Therefore, this reduces the probability that the customer will come to but the product to the specific shop if considering the current situation when the competitors are providing with better products. 3. Pricing Strategies Price is one to the most important and the basic variable that marketing managers